Global Shrink Packaging Market Size Grows at a Steady CAGR of 6.8%

Introduction

Straits Research released its highly anticipated report, “Shrink Packaging Market Size & Outlook, 2026-2034”. According to the study, the market size is valued at USD 12.67 billion in 2025 and is projected to expand to USD 22.67 billion by 2034 registering a compound annual growth rate (CAGR) of 6.8%.

Market Dynamics

The growth of the global shrink packaging market is primarily driven by rising demand for efficient, durable, and sustainable packaging solutions across industries such as food and beverages, pharmaceuticals, and consumer goods. The market is benefiting from innovations in biodegradable shrink films and recyclable plastics, aligning with global sustainability goals and corporate environmental commitments. Increasing demand for lightweight packaging that ensures product protection and reduces logistics costs is further propelling market expansion.

However, fluctuating raw material prices and environmental concerns over plastic waste management challenge market stability. Regulatory restrictions on single-use plastics in regions like the EU also pressure manufacturers to innovate toward greener alternatives. Despite these challenges, the market presents strong opportunities through smart and temperature-sensitive shrink packaging for pharmaceuticals and perishables. Such advancements highlight the market’s shift toward intelligent, eco-friendly, and performance-driven packaging solutions, positioning shrink packaging as a critical component of next-generation logistics and product safety systems.

Key Highlights

• By Packaging Type: According to Straits Research, the shrink filmas rollstock and bundle film segment held the highest market share of 42.2% in 2025.
• By Material: The Polyethylene (PE) mono-polymer films segment is estimated to register the fastest CAGR growth of 7.4%.
• By End-Use Industry: The Food and Beverage category dominated the market in 2025 with a revenue share of 55%.
• Regional Insights: North America dominates with over 38.8% share, driven by a large installed base of food and beverage manufacturers, high per-capita packaged consumption, and rapid e-commerce penetration.

Competitive Players

1. Amcor
2. Sealed Air (CRYOVAC)
3. Berry Global
4. CCL Industries
5. Fuji Seal International
6. Klöckner Pentaplast (KP / Klockner-Pentaplast)
7. Mondi
8. Huhtamaki
9. Avery Dennison
10. Winpak
11. Sonoco
12. Coveris (listed twice in the original request)
13. Taghleef Industries (TI)
14. Multi-Colour Corporation (MCC)
15. Fort Dearborn
16. Trident (packaging converters)
17. Sleever (Sleever International)
18. PDC International
19. Siegwerk

Recent Developments

Segmentation

1. By Packaging Type
   1. Shrink film
   2. Shrink sleeve
   3. Shrink bags
   4. Tamper bands/shrink seals
   5. Shrink wraps for multipacks
2. By Material
   1. Polyethylene (PE): LDPE / LLDPE
   2. Polyvinyl chloride (PVC) shrink film
   3. Polyolefin blends / multi-layer films
   4. Oriented polystyrene (OPS) / PETG shrink sleeves
   5. Specialty barrier films
3. By End-use Industry
   1. Food and beverage
   2. Personal care and cosmetics
   3. Pharmaceuticals and healthcare
   4. Home and household products
   5. Industrial goods