GITNUX MARKETDATA REPORT 2024
Shrink Packaging Industry Statistics
The shrink packaging industry is projected to experience steady growth in the coming years, driven by factors such as increasing demand for packaging solutions in various industries and technological advancements in shrink wrapping equipment.
In this post, we explore key statistics shaping the global shrink packaging industry, offering valuable insights into market trends, growth projections, and key players. From the market size and growth rates to regional dynamics and end-user segments, these statistics shed light on the continued evolution and opportunities within the shrink packaging market.
Statistic 1
"The global shrink packaging market size was valued at USD 9.45 billion in 2020."
Statistic 2
"It is projected that the shrink packaging industry will grow at a CAGR of 5.9% from 2021 to 2028."
Statistic 3
"The Asia-Pacific region is expected to exhibit the highest growth rate in the shrink packaging market over the forecast period."
Statistic 4
"The food & beverage industry is the largest end-user segment for shrink packaging."
Statistic 5
"The pharmaceutical sector is expected to be the fastest-growing application segment for shrink packaging solutions."
Statistic 6
"The shrink film market size in Europe is expected to reach USD 2.59 Billion by 2025."
Statistic 7
"LDPE shrink packaging films held the largest share making up 30% of total revenues in 2020."
Statistic 8
"In 2020, printed type shrink packaging held approximately 40% of market share."
Statistic 9
"Transparency Market Research forecasts the global shrink bags market volume to be 10,342.5 million units by 2024."
Statistic 10
"The industrial packaging segment accounted for 23% revenue share of the overall shrink packaging market in 2020."
Statistic 11
"Shrink film sales were valued at $2.7 billion in Canada in 2020."
Statistic 12
"Last year, more than 175,000 metric tons of shrink film was produced in the United States."
Jannik Lindner
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