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The United States & Canada collation shrink films market size is expected to increase from US$ 1,014.8 million in 2023 to US$ 1,451.1 million by 2030. As per Future Market Insights, sales of collation shrink films in the United States & Canada markets are likely to soar at 5.2% CAGR through 2030.
Burgeoning demand for lightweight and moisture-resistant packaging from pharmaceutical and food & beverages sectors is driving the United States & Canada collation shrink films market.
As per Future Market Insights (FMI) analysis, consumers are inclined towards effective packaging solutions with minimal packaging costs. Thus, they always prefer lightweight packaging formats for more profit earnings.
Collation shrink films are made using different plastic materials such as polyethylene (PE), LDPE, and LLDPE. These materials are lightweight and have immense stiffness, toughness, and bundling force to hold together multiple products tightly.
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When compared to the rigid dome container and paperboard folding container, collation shrinks films provide an 81% reduction in packaging weight, which aids in fuel efficiency during transit.
Collation shrink film is a form of flexible packaging, which offers 6 times more product-to-package ratio as compared to the paperboard folding container. These films can tightly hold multiple products together and protect them from external factors.
Not only does collation shrink films reduce the packaging weight but also adds advantages like reduced product shift in transit and a decrease in the breakage of the product and/or product waste.
Collation shrink films are naturally transparent as well as printable. They are available in various thicknesses and sizes which provide the benefit of increased utility, driving the United States & Canada collation shrink films market.
Thanks to numerous benefits, various end-use industries are shifting from traditional packaging solutions to collation shrink films for bulk packaging. This gradual shift is expected to drive market growth to a certain extent.
Key Takeaways from the United States & Canada Collation Shrink Films Market
“Collation shrink film market is being catapulted into new heights in the United States and Canada as these films are lightweight and thin which enables them to take up little to no space in the inventory. At the same time, they offer high-barrier and damage-resistant protection to goods of any size and shape.” says an FMI analyst
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Inclusion of PCR Plastics Solution to Facilitate Market Expansion
Plastic waste is a key challenge for the key players in packaging films. Further, to minimize carbon footprints, government authorities are taking initiatives for limited plastic use.
To reduce the impact of these factors, key players in the collation shrink films market are switching towards the use of PCR plastic for the reuse of plastic scrap products.
Post-consumer recycled plastic is less wasteful than other plastic forms such as PE, PP, PET, etc. It reduces the amount of waste produced and collected and aids the zero-waste revolution. It has several environmental advantages such as alleviating the environmental burden by recycling and repurposing the use of existing plastic.
PCR plastic also reduces the toxicity in the environment, which is caused due to keeping tons of toxic plastic waste out of landfills and oceans. The inclusion of recycled content (PCR) is an important step towards reducing the carbon footprint of packaging.
As per the research conducted by NORTHEAST Recycling Council (NECR), a non-profit organization, the recycled plastic processing capacity in North America has rapidly increased since 2017. This report showed that a total of 15 new and 10 expanding facilities are established in 2017 that will process plastic.
Increasing plastic recycling facilities is expected to create exponential growth opportunities for the United States & Canada collation shrink films market.
Who is Winning?
ITP – Industria Termoplastica Pavese, Armando Alvarez Group, Macchi North America Plastic Machinery Inc., Accredo Packaging, Inc., Transcontinental Packaging, Dow Inc., Berry Global Inc., Pyramid Shrink Film, Plastixx FFS Technologies, Sealed Air Corporation, NOVA Chemicals Corporation, Packman Packaging Pvt. Ltd. are the leading manufacturers of collation shrink films across the United States and Canada.
Key players are working on market strategies such as new product launches, mergers, acquisitions, facility expansions, and partnerships to strengthen their presence across North America.
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United States & Canada Collation Shrink Films Market Segmentation
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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