Shrink Film for Beverage Multipacks Market: By Test, End User & Geography - Forecast (2024-2030)

Shrink Film For Beverage Multipacks Market Size is forecast to reach $2035 Million by 2030, at a CAGR of 6.30% during forecast period 2024-2030.

Multipacks are generally used for the purpose of wrapping a group of several containers or bottles together in order to sell it as a single unit. They find their application in the packing process of various containers which include alcoholic drinks, soft drinks and dairy products of dissimilar shapes and sizes. This type of packaging also helps in preventing the environment by reducing the plastic use which consequently fuels the demand for shrink films pertaining to beverage multipack applications. This market is regulated and controlled by both established as well as small emerging players.

This type of packaging is light-weight, durable and visually attractive. When equated to rigid packaging, these shrink film beverage multipacks lessen the conveyance expenditures of beverages and are easier to carry. Some of the factors which are all set to boost the growth of shrink film for beverages multipacks include, growing consumption of alcoholic beverages a well as demand for ready-to-drink fruit juices. Major types of shrink films materials commercially available are polyethylene, polypropylene, polyvinyl chloride and more. The report also focuses on different geographic regions and the key countries in terms of changing trends in shrink films for beverage multipacks market in various fields.

The Shrink film for beverage multipacks majorly comprise of three applications forms which include can, bottle and brick. Water and carbonated soft drinks is the major contributing segment in the overall demand for shrink films packaging owing to the constant growth in demand for mineral water and carbonated drinks. Additionally, various designs of bottle wrapping have been introduced which also fuel the growth of this market. Soft-drinks and water are generally packed in bottles and after that shrink film is applied for the secondary packaging. Polyolefins are the most preferred materials for this type of packaging as it biodegrades naturally but over a long period of time. Printed shrink wrap film continues to make headway into all industries, especially where retail point-of-sale is concerned.

Introduction

Shrink film, a thin polymer plastic material, is widely used in packaging, particularly in beverage multipacks, where it securely binds bottles and cans together. This versatile packaging solution has seen significant growth in recent years due to its cost-efficiency, durability, and ease of use. The global shrink film for beverage multipacks market is projected to experience robust growth from 2024 to 2030, driven by increasing demand in the beverage industry, advancements in packaging technology, and growing consumer preferences for multipack formats.

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This article explores the key segments driving the growth of this market, focusing on testing parameters, end users, and geographical trends shaping the forecast period.

1. Market Segmentation

a. By Test Type

Testing plays a crucial role in ensuring the quality and performance of shrink film in beverage multipacks. Various tests are conducted to assess film strength, shrinkage capacity, transparency, and flexibility. The major test types include:

1. Tensile Strength Test: This test evaluates the film's resistance to being pulled apart. Beverage multipacks require strong packaging to prevent tearing during transportation and handling.
2. Shrink Force Test: This test measures the force exerted by the film when heated and shrunk around the beverage cans or bottles, ensuring secure packaging without compromising the product's integrity.
3. Puncture Resistance Test: As beverage containers are often transported in bulk, the packaging must withstand potential punctures from sharp objects. This test ensures that the shrink film provides adequate protection.
4. Optical Test: Transparency is an essential feature for many beverage brands. Optical tests assess the film's clarity, which allows the packaging to display the products inside without distortion.
5. Barrier Property Test: Shrink film is also evaluated for its ability to act as a barrier against moisture, oxygen, and light, which can affect the taste and shelf life of the beverage.

The rising demand for high-performance packaging materials has led to a growing need for advanced testing methods, ensuring that shrink films meet stringent industry standards.

b. By End User

The end-user segment of the shrink film market is broadly categorized into:

1. Soft Drinks Manufacturers: The largest end user of shrink film for beverage multipacks, the soft drinks industry continues to expand due to the increasing consumption of carbonated and non-carbonated beverages. Multipacks offer convenience, especially for large retail purchases.
2. Beer & Alcoholic Beverage Industry: Shrink film has become essential in the packaging of beer and other alcoholic beverages, particularly in cans and bottles. This industry benefits from shrink film packaging because it ensures tamper resistance and prevents damage during shipping.
3. Bottled Water Industry: As the demand for bottled water continues to rise globally, the use of shrink film in multipacks has increased. The water industry values lightweight and secure packaging that reduces transportation costs and minimizes environmental impact.
4. Dairy Beverages & Juices: The packaging of dairy-based beverages and fruit juices in cartons and bottles also makes significant use of shrink films to bundle these products into convenient multipacks for retail.

c. By Geography

The shrink film market for beverage multipacks is highly dynamic, with growth patterns varying across regions:

1. North America: The U.S. and Canada represent a mature market for beverage multipacks, with high consumption rates of soft drinks, bottled water, and alcoholic beverages. North America is expected to maintain steady growth, driven by innovations in eco-friendly packaging and the increasing preference for bulk purchasing.
2. Europe: Europe is another key market, especially in countries like Germany, the UK, and France, where consumers frequently purchase beer and soft drinks in multipacks. Stringent regulations around plastic use are pushing manufacturers to adopt sustainable shrink films made from recyclable or biodegradable materials.
3. Asia-Pacific: The Asia-Pacific region is anticipated to witness the highest growth during the forecast period. Countries such as China, India, and Japan have seen a surge in demand for beverages due to increasing urbanization, rising disposable incomes, and changing lifestyles. The growing popularity of multipacks in the beverage sector is fueling demand for shrink film in this region.
4. Latin America: Brazil, Mexico, and Argentina are leading countries in Latin America where the demand for beverage multipacks is growing. With an increasing focus on reducing plastic waste, Latin American countries are investing in more sustainable packaging solutions, boosting the growth of eco-friendly shrink films.
5. Middle East & Africa: Although a smaller market compared to others, the Middle East and Africa are experiencing steady growth in beverage consumption, particularly in bottled water and soft drinks. The rise in retail chains and supermarkets in this region is expected to increase demand for shrink film multipacks.

2. Key Market Drivers

Several factors are driving the expansion of the shrink film for beverage multipacks market during the forecast period:

• Sustainability Initiatives: Growing concerns over plastic waste have prompted manufacturers to develop more sustainable shrink film options, such as biodegradable and recyclable materials. These innovations are expected to drive market growth as both consumers and governments push for eco-friendly packaging solutions.
• Convenience & Cost Efficiency: Shrink film offers a cost-effective and convenient packaging solution, making it popular among beverage manufacturers. Multipacks are particularly favored by consumers for bulk purchases, fueling demand for shrink film.
• Technological Advancements: Continuous innovations in packaging technology, such as the development of high-performance films with enhanced strength, flexibility, and transparency, are positively impacting market growth. These advancements improve the overall user experience and reduce production costs for manufacturers.
• Consumer Preferences: The shift in consumer preferences toward ready-to-drink beverages, on-the-go consumption, and bulk buying is bolstering demand for shrink film multipacks. The increased consumption of bottled water, soft drinks, and alcoholic beverages is expected to remain a key driver throughout the forecast period.

3. Market Challenges

Despite its growth potential, the shrink film for beverage multipacks market faces several challenges:

• Environmental Regulations: Stringent regulations on plastic use and waste management, particularly in regions like Europe and North America, pose a challenge for manufacturers. The push towards reducing single-use plastics requires shrink film producers to innovate and comply with eco-friendly packaging standards.
• Rising Raw Material Costs: Fluctuations in the prices of raw materials, such as polyethylene and polypropylene, can affect the production cost of shrink films, influencing profitability for manufacturers.
• Competition from Alternative Packaging: The rise of alternative packaging materials, such as paperboard and reusable packaging solutions, presents a competitive threat to shrink film, particularly in markets focused on sustainability.

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Here is a list of the top 10 companies that are leading the shrink film for beverage multipacks market, known for their innovations, market presence, and extensive portfolios in packaging solutions:

1. Berry Global Inc.

2. Sealed Air Corporation

3. Amcor PLC

4. Coveris Holdings S.A.

5. AEP Industries Inc.

6. Clysar, LLC

7. RKW Group

8. Huhtamaki Group

9. Bemis Company, Inc. (Now part of Amcor)

10. Sigma Plastics Group

4. Conclusion

The global shrink film for beverage multipacks market is poised for significant growth between 2024 and 2030, driven by increasing demand in the beverage industry, advancements in packaging technology, and sustainability initiatives. Innovations in testing methods, coupled with expanding applications across different end users and regions, are expected to fuel the market's expansion. However, manufacturers must navigate challenges related to environmental regulations and raw material costs to capitalize on growth opportunities.

By adopting sustainable practices and investing in cutting-edge technologies, market players can maintain a competitive edge while meeting the evolving needs of both consumers and regulatory bodies.

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