Northbrook, IL 60062 -- (SBWire) -- 10/05/2023 --According to a report by MarketsandMarkets titled "Shrink Plastic Film Market for Beverage Multipacks by Type (Printed, Unprinted), Application (Alcoholic beverages, Water, carbonated soft drinks), Container Type (Can, Bottle, Brick), Multipack Size (3x2, 4x2, 4x3, 6x3) & Region - Global Forecast to 2025," the market was valued at USD 2.5 billion in 2020 and is projected to reach USD 3.0 billion by 2025, with a compound annual growth rate (CAGR) of 3.5% in terms of value. This growth is attributed to the increasing demand for bottled and canned products, which has led to a surge in the shrink plastic film market.
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The report comprises 129 market data tables, 60 figures, and an in-depth table of contents, providing comprehensive insights into the Shrink Plastic Film Market for Beverage Multipacks.
Unprinted shrink plastic film is expected to witness significant growth during the forecast period. These films are cost-efficient and are preferred for beverage transportation due to their sealability, making them suitable for small and medium-sized enterprises (SMEs).
In terms of application, the water segment dominates the shrink plastic film market for beverage multipacks. Beverage companies, including water and carbonated soft drink manufacturers, utilize shrink plastic films for packaging due to their functional and advertising advantages. The Asia Pacific (APAC) region is witnessing increased demand for processed beverages, further boosting the market for shrink plastic film.
Europe holds the largest share in the shrink plastic film market for beverage multipacks as of 2019, with Asia Pacific expected to exhibit the highest growth rate. The increasing demand for ready-to-drink products and on-the-go beverages in Europe is driving the market, and consumers' shifting consumption habits have led to a surge in demand for carbonated beverages and packaged water.
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The report includes a study on marketing and development strategies, as well as product portfolios of leading companies in the industry. Key players mentioned in the report include Amcor Plc (Switzerland), Coveris Holdings Sa (Austria), Ceisa Semo (France), Clondalkin Group (The Netherlands), RKW (Germany), Berry Global Inc (US), Plastotecnica SpA (Italy), Clearpack Group (Singapore), Sarkina (US), and Baroda Packaging (India).
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Shrink Plastic Film Market for Beverage Multipacks to Reach $3.0 Billion by 2025, Driven by Rising Demand for Bottled and Canned Products
Shrink Plastic Film Market for Beverage Multipacks by Type (Printed, Unprinted), Application (Alcoholic beverages, Water, carbonated soft drinks), Container Type (Can, Bottle, Brick), Multipack Size (3x2, 4x2, 4x3, 6x3) & Region - Global Forecast to 2025