Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.3 Billion | USD 3.3 Billion | 4.2% | 2023 |
FrequentlyAsked Questions
One of the major factors driving the growth of the global shrink plastic film market is the fast-proliferating food processing industry all across the globe. The significant hype in the demand for vegetables, fruits, and other packaged food is likely to boost the growth of the global market significantly during the forecast period.
According to the report, the global shrink plastic film market size was worth around USD 2.3 billion in 2021 and is predicted to grow to around USD 3.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.2% between 2022 and 2030.
The global shrink plastic film market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the growing demand from the food & beverage industry.
The global shrink plastic film market is dominated by players like RKW SE, Sealed Air, Plastotecnica Spa, Clondalkin Group Holdings Bv, Ceisa Packaging Sas, Vishakha Polyfab Pvt Ltd, Coveris Holdings S.A., Bemis Company, Inc, Amcor Limited, Berry Plastics Corporation and Aep Industries Inc., among others.
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