Pallet Shrink Film Packaging Market: SWOT Analysis, and Opportunities

Posted by Kishor on April 24th, 2019

Pallet Shrink Film Packaging Market: Drivers and Restraints

The market for pallet shrink film is anticipated to be driven by growth in the consumption of packaged food and beverages products across the globe. Pallet shrink films are weather resistant, provides the least amount of packaging damage during logistics and transportation are also breathable in nature. These all factors appeal the manufacturers across the globe to use pallet shrink films/wraps and thus drive the growth of the global pallet shrink film packaging market.

However, higher machine cost used in heating shrink films is the major drawbacks of pallet shrink film. Moreover, Biodegradability has arisen as environmental challenges thus hampering the growth of pallet shrink film market to a great extent. As a result, promotion of bio-based materials by governments of various countries has emerged as an opportunity to develop biodegradable pallet shrink film for market players.

Pallet Shrink Film Packaging Market: Regional Overview

Geographically, the pallet shrink film packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).

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The pallet shrink films markets in Europe and North America are rather in a mature stage and are thus likely to lose a considerable share of the global market to Asia Pacific. Key players that currently operate in developed shrink films packaging markets such as Europe and North America are focusing on APAC to grow in revenue by optimally utilizing the resources available in India and other ASEAN countries at a very low rate.

The Asia-Pacific market is projected to develop as the most lucrative market for the growth of shrink film packaging. Asia Pacific region offers lucrative opportunities for players that operate in the manufacturing of pallet shrink films as a result of the rise in investments in the manufacturing sector, increasing disposal income with growing urbanization. This increase is also attributed to the growth in the packaging of food & beverages, consumer products, Electronic appliances and pharmaceuticals products from the developing economies such as India and China.

Pallet Shrink Film Packaging Market: Key Players

Some of the key players that operate in the pallet shrink film packaging market across the globe are AEP Industries Inc., Bemis Company, Inc., Amcor Limited, Coveris Holdings S.A., Sigma Plastics Group, Inc., DongGuan HuaYu Packing co., Ltd., Grafix Arts. Clondalkin Group Holdings BV and Berry Global, Inc