Global Compostable Shrink Wrap Market, By Material (PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), Starch blends and Other Biodegradable Polymers), Product Type (Unprinted and Printed), Applications (Food Packaging, Industrial Packaging, Personal Care and Cosmetics, Agriculture and Horticulture), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Compostable Shrink Wrap Market
The compostable shrink wrap market is expected to witness market growth at a rate of 18.4% in the forecast period of 2021 to 2028 and is expected to reach USD 2510.3 million by 2028. Data Bridge Market Research report on compostable shrink wrap market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the popularity of compostable shrink wrap is escalating the growth of compostable shrink wrap market.
Compostable shrink wrap is known to offer a cost-efficient packaging solution to the manufacturers and originates as a solution to the industry trend of hassle-free and transparent packaging of the product and offers.
Major factors that are expected to boost the growth of the compostable shrink wrap market in the forecast period are the attributes such as adhesiveness, bio-degradability and easy recyclability. Furthermore, the rise in the food and beverage industry is further anticipated to propel the growth of the compostable shrink wrap market. Moreover, the growing need for packaged foods is further estimated to cushion the growth of the compostable shrink wrap market. On the other hand, the rise in the expenses of compostable shrink wrap in comparison to other non-biodegradable options is further projected to impede the growth of the compostable shrink wrap market in the timeline period.
- In addition, the promise of brands to offer fresh products to the consumers will further provide potential opportunities for the growth of the compostable shrink wrap market in the coming years. However, the performance of the compostable shrink wrap against heat resistance, air, water and oxygen against the non-compostable shrink wraps might further challenge the growth of the compostable shrink wrap market in the near future.
This compostable shrink wrap market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on compostable shrink wrap market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Compostable Shrink Wrap Market Scope and Market Size
The compostable shrink wrap market is segmented on the basis of material, product type and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of material, the compostable shrink wrap market is segmented into PLA (polylactic acid), PHA (polyhydroxyalkanoates), starch blends and other biodegradable polymers.
- On the basis of product type, the compostable shrink wrap market is segmented into unprinted and printed.
- On the basis of applications, the compostable shrink wrap market is segmented into food packaging, industrial packaging, personal care and cosmetics, agriculture and horticulture.
Compostable Shrink Wrap Market Country Level Analysis
The compostable shrink wrap market is analyzed, and market size, volume information is provided by country, material, product type and applications as referenced above.
The countries covered in the compostable shrink wrap market report are the U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, rest of the Middle East and Africa (M.E.A.) as a part of the Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the compostable shrink wrap market due to the suitable government policies. Furthermore, the growing need for environment-friendly packaging by the consumers will further boost the growth of the compostable shrink wrap market in the region during the forecast period. Asia-Pacific is projected to observe significant amount of growth in the compostable shrink wrap market due to being the key consumers of packed foods and cosmetics which are main end user industries of compostable shrink wraps. Moreover, the rise in the awareness about food preservation and quality of the products is further anticipated to propel the growth of the compostable shrink wrap market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Compostable Shrink Wrap Market Share Analysis
The compostable shrink wrap market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the compostable shrink wrap market.
The major players covered in the compostable shrink wrap market report are S.R BIO PLASTIC, Packman Packaging Private Limited., HUBEI HYF PACKAGING CO., LTD., BASF SE, NatureWorks LLC, Mitsubishi Chemical Holding Corporation, Corbion N.V., Biome Technologies plc, Amcor plc, Sealed Air, Mondi, Tetra Pak International S.A., IMEX Packaging, Elevate Packaging., BIOPAK, Smurfit Kappa, Green Pack, Treetop Biopak, Berkley., International Paper. and Kingfa Science & Technology (India) Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (M.E.A.) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.