The global collation shrink films market is on a trajectory of substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 5.9% between 2022 and 2030, ultimately reaching a valuation of US$ 6.5 billion by the year 2030. Notably, the market is expected to witness a peak Year-on-Year (Y-o-Y) growth rate of 6.6% post-2025.
This robust growth is underpinned by significant revenue-generating opportunities, primarily driven by the increasing demand from industries such as cosmetics, pharmaceuticals, and transport and logistics. These sectors require robust packaging materials, thus contributing to the firm demand for collation shrink films.
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Industry Growth Drivers:
- E-commerce Packaging Surge:
- The booming growth of e-commerce is a significant driver for the collation shrink films market, as these films are widely used for bundling and securing products in online retail packaging.
- Advancements in Film Technology:
- Ongoing innovations in collation shrink film technology, including improved strength, transparency, and sealing properties, are driving market growth by offering enhanced performance and versatility.
- Sustainability Initiatives:
- The increasing focus on sustainable packaging solutions is propelling the collation shrink films market. Films with eco-friendly materials and those designed for recyclability are gaining traction.
- Expanding Retail Sector:
- The growth of the retail sector, especially in developing regions, is contributing to the increased demand for collation shrink films. These films are essential for bundling products for efficient display and transportation.
- Rising Demand in the Food and Beverage Industry:
- The food and beverage industry’s continuous expansion is a major growth driver for collation shrink films. These films provide a secure and visually appealing packaging solution for various products in this industry.
Additionally, collation shrink films offer excellent printing surface quality, positioning them as effective marketing tools, particularly in the printing and publication industries.
Importantly, as environmental awareness gains momentum, consumers are increasingly switching to alternative packaging solutions due to concerns about plastic usage and its environmental impact. In response, key players in the collation shrink films industry are leveraging advanced technology to manufacture these films using recyclable polymers with a minimal carbon footprint. This sustainable approach is expected to fuel remarkable growth in the collation shrink films market over the next decade, aligning with evolving consumer preferences and environmental consciousness.
“Most of the key players are continuously focusing on the development of extra thin collation shrink films, which will offer maximum impact protection to the stored products during transportation. Companies are coming up with the new technologies that will manufacture nearly 10-micron thin collation shrink films, which are stiff and provide a firm grip to the package,” says an FMI analyst.
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Key Takeaways of Collation Shrink Films Industry Study
- As per thickness, 25-50 micron collation shrink films are expected to holds 1/3rd of the industry share during the forecast period
- Linear low-density polyethylene (LLDPE) material segment is expected to gain by 50 bps of current market share, by the end of 2030
- Collation shrink films are mostly preferred for bottles and cans packaging applications, pushing these segments to gain a cumulative worth of US$ 774 Mn by 2025
- Food and beverage manufacturers to remain key end users of collation shrink films and estimated to expand 1.8x of current industry value during 2020-2030
- North America is estimated to remain at leading position with more than 25% market share in 2020. However, East Asia is expected to outbid other regions during the forecast period.
- South Asia market is anticipated to expand by 2.1x of current industry share till 2030, attributing to double digit investment by the key players for manufacturing collation shrink films
- Germany market is anticipated to be highly lucrative as it is poised to represent an incremental opportunity of US$ 24 Mn by the end of 2025 in the Europe region
- Mexico collation shrink films industry is anticipated to expand at a potential CAGR of 7.1% during 2020-2030, owing to increasing number of key players
Removing Downgauging Bottlenecks to Drive Collation Shrink Films Industry
Manufacturers in collation shrink films are focussing on optimizing the quality by enhancing its multi-layer packaging film concept with five or more layers. These multi-layer collation shrink films are relatively stiff and enable extra thin gauges resulting in low wastage and overall cost.
Five-layer collation shrink films offer the advantage of holding force and stiffness over three-layer films, which are often a bottleneck to downgauging in secondary packaging application.
Recently Saudi Arabia-based Sabic Company introduced a multi-layer film solution for beverage collation. The SABIC multi-layer collation shrink films concept is expected to reduce downgauging and production at approximately 10,000 kg/hr. Its Teesside, UK-based plant, is manufacturing such collation shrink films to cater to the demand of efficiency on all fronts.
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Key Segments Covered in Collation Shrink Films Industry Research
By Thickness:
- Less than 25 Micron
- 25-50 Micron
- 51-100 Micron
- Above 100 Micron
By Material:
- Low Density Polyethylene (LDPE)
- Linear Low Density Polyethylene (LLDPE)
- Medium Density Polyethylene (MDPE)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Application:
- Bottles
- Cans
- Books & Magazines
- Cartons
- Others
By End-use:
- Food & Beverages
- Cosmetics
- Personal Care & Home Care
- Transport & Logistics
- Pharmaceuticals
- Printing & Publications
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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