Global Polyolefin (POF) Shrink Film Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

The Polyolefin (POF) Shrink Film Market report overview:

“The global Polyolefin (POF) Shrink Film Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The Polyolefin (POF) Shrink Film Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, and key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global polyolefin (POF) shrink film market report has been segmented based on product, application, and region. Polyolefin is chemically inert and is used for packaging applications in various applications such as food & beverages, consumer goods, etc.

Polyolefin shrink film is a versatile and durable food packaging material. Polyolefin is used as a substitute for polyvinyl chloride in packaging applications owing to its high tensile strength, clarity, and eco-friendly properties.

Market Dynamics: 

Increasing penetration of polyolefin shrink films in food & beverages, pharmaceuticals, consumer goods, and industrial packaging application is a major factor expected to drive revenue growth of the polyolefin (POF) shrink film market over the forecast period.

Moreover, the growing food & beverage industry in developing economies such as India and China is expected to boost the demand for packaging materials, driving revenue growth of the target market. Furthermore, rising demand for secondary packaging in the food & beverage industry is another factor expected to drive revenue growth in the target market over the forecast period.

On the basis of product, the cross-linked segment is expected to account for a significant revenue share in the global polyolefin (POF) shrink film market. Advantages of cross-linked polyolefin shrink film over general polyolefin shrink films such as shelf life, total protection, instant identification, and hygiene are expected to support revenue growth of this segment over the forecast period.

On the basis of application, the food & beverage segment is expected to dominate the global market in terms of revenue over the forecast period. Increasing demand for ready-to-eat food products among the consumers in developed and developing economies is the major factor expected to drive revenue growth of this segment over the forecast period.

Asia Pacific market is expected to account for a major revenue share in the global polyolefin (POF) shrink film market and is expected to maintain its dominance over the forecast period. Growing demand for packaged food and consumer goods in developing economies such as China, India, Indonesia, etc., is expected to drive revenue growth in the Asia Pacific polyolefin (POF) shrink film market over the forecast period.

Moreover, rising demand for secondary packaging for consumer goods in the region is another factor expected to drive revenue growth of the polyolefin (POF) shrink film market in the Asia Pacific. Asia Pacific accounts for the major revenue share of the global polyolefin (POF) shrink film market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively.

The polyolefin (POF) shrink film market in Europe is expected to grow at a moderate rate over the forecast period. Growing demand for polyolefin shrink films in secondary packaging of food and consumer goods is expected to drive revenue growth of the target market in the region over the forecast period.

Market Segmentation and Key Players Operating in the Global Polyolefin (POF) Shrink Film Market:

By Product:

• General
• Cross-linked

By Application:

• Food & beverage
• Industrial packaging
• Consumer goods
• Pharmaceutical

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa