Global Vacuum Shrink Films Market: Introduction
Vacuum shrink films are also termed vacuum shrink wraps, which are essentially plastic films. The most commonly used process for wrapping using vacuum shrink films is to hermetically seal the product. Vacuum packaging technology is rapidly gaining market share as one of the most preferred meat packaging technologies. Vacuum shrink films protect the food product from microbes, and enhance the shelf life of the product. Shrink wrapping includes the placing of small vent holes in the shrink film, which allow the film to allow air to escape the package. Hence the package is not completely sealed from external elements. Due to the exposure to oxygen, vacuum shrink packaging gains an edge over its counterpart ‘vacuum skin packaging’, which does not allow exposure to oxygen. Vacuum skin packaging results in a purple appearance of the meat product, due to the unavailability of Oxygen. Since more consumers have the perception of associating the reddish appearance of a food product with the term ‘fresh’, vacuum shrink packaging might witness an increase in preference, during the forecast period. Therefore, vacuum shrink films are anticipated to witness moderate to high growth, during the forecast period.
Global Vacuum Shrink Films Market: Market Dynamics
The global food packaging industry has undergone significant changes in the past couple of decades. Active, smart, and intelligent packaging technologies are expected to significantly gain market share, across the world. Food packaging technologies such as Vacuum Skin Packaging, Vacuum Shrink Packaging, and Modified Atmosphere Packaging are anticipated to become the ideal packaging formats for products such as fresh produce, meat, poultry, and seafood, among others. Several factors are expected to play a key role in the growth of the global vacuum shrink films market. These include, change in consumer preferences in developing countries, and an inclination towards packaged food and case-ready meals. This is a result of increasing ease of access, with growing penetration of modern retail formats. In addition, growth in modern trade, and rising disposable per capita income also contribute significantly to the increasing preference for vacuum shrink packaged food. Rising demand from end markets such as food industry is increasing the demand for multi-layer films. In May 2018, packaging firm Krehalon based in Netherlands rolled out a new line of shrink films brand known as SSL. SSL uses a material that fuses the inner layer of films through vacuum packaging and hot water shrinkage. Therefore, innovative concepts such as this, are expected to continue to shape the global vacuum shrink films market, during the forecast period.
Global Vacuum Shrink Films Market: Market Segmentation
The global vacuum shrink films market is segmented based on type, material type, end-use industry and geography
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On the basis of type, the global shrink film market is segmented into Form-shrink films Single-Layer Film Multi-Layer Film Flow-pack films Single-Layer Film Multi-Layer Film
On the basis of material type, the global vacuum shrink films market is segmented into Polyolefin (PA) Polyethylene (PE) Polypropylene (PP) Polyvinyl chloride (PVC) Others
On the basis of end-user industry, the global vacuum shrink films market is segmented into Food & Beverages Others
Global Vacuum Shrink Films Market: Geographical Outlook
The global vacuum shrink films market has been bifurcated into seven key regions such as North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East and Africa, Latin America and Japan.
Vacuum shrink films are mostly used in packaging of food products such as meat.
Global Vacuum Shrink Films Market: Key players
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Some of the key players operating in the global vacuum shrink films market across the globe can be segmented into three tiers based on their revenue as follows
Tier 1 (Revenue generated from vacuum shrink films > US$ 100 Mn) Flexopack S.A. Winpak Ltd. Sealed Air Corporation Coveris Holdings S.A. Kurehalon Bemis Company, Inc. Mondi Group Bollore Group Amcor Limited Tier 2 (Revenue generated from vacuum shrink films between US$ 50 Mn and US$ 100 Mn) Flavorseal Llc Schur Flexibles KOROZO Ambalaj San.ve Tic A.S.
Tier 3 (Revenue generated from vacuum shrink films < US$ 50 Mn) Buergofol GmbH Uflex Ltd. Premiumpack GmbH
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