Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Shrink Packaging Market Research Report - Global F | Page 3

Global In-flight Advertising Market Research Report: Forecast to 2023
Global Shrink Packaging Market Information Report by Material (Linear Low Density
Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC) and
others), by Product (Hoods, Labels & Sleeves, Wrap, and Other), by Application (Food
Packaging, Beverages, Paper & Textile Products, and Others) and By Region - Forecast
To 2023
Market Scenario
On the basis of regions, global shrink packaging market is segmented as North America,
Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific dominates the global
shrink packaging market. It is expected to be the fastest growing region for the market.
Rapid growth in food and beverage industry in this region driving the growth of the
market. Increasing demand for consumer goods in the region mainly due to high
population is also fuelling the growth of the market. Additionally, availability of raw
materials and low labor cost are the factors have the positive influence on the growth of
the market. North America is also expected to contribute significantly during the forecast
period. Increased consumption of beverages fuelling the growth of the market.
Global shrink packaging market has been segmented based on material, product,
application and region. On the basis of material, the market is segmented as Linear Low
Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC).
Low Density Polyethylene dominates the material segment of the market. Majority of
shrink film is LDPE. LLDPE is expected to be the fastest growing material segment. PVC is
a dense material. It is considered to be a common material in India, when clarity is an
important selection criterion, particularly for consumer packaging. This is because it is
relatively strong, inexpensive and has a good shrink ratio. Based on product, shrink film
hoods are expected to register highest growth rate. The growth is expected to be driven
by increasing demand for hoods in industrial packaging and consumer goods packaging.
On the basis of applications, the market is segmented as food packaging, beverages,
paper & textile products, and others. Beverages segment dominates the application
segment of the market. Increased consumption of beverages across the globe driving the
demand of beverages.
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