The shrink packaging market is expected to grow from USD 12.51 billion in 2025 to USD 21.68 billion by 2034, at a CAGR of 6.30% during the forecast period. The shift towards sustainable packaging is driving the growth of the shrink packaging market. Factors like the expanding e-commerce industry, increased travel, and urbanization are also contributing to its development.
Shrink Packaging Market Key Players
Latest Announcements by Market Leaders
- In October 2024, Clysar president Vicki Larson expressed, “EV-HPG film is everything our stakeholders have asked for in a recyclable shrink film. It delivers the features that have made our Clysar HP Gold film the industry standard for more than 20 years, now in a fully functional recyclable film with recycled content and a reduced carbon footprint.”
Recent Developments
- On 8 June 2025, Film Source packaging revealed the launch of its latest Webbed Shrink Film, which is a brand new product crafted to integrate high-performance power with high-level sustainability. (Source: Packaging Strategies)
- On 17 June 2025, Amcor, which is a packaging solution provider, revealed a sustainable packaging solution for Butterball’s turkey breast servings. The latest Perfex shrink has a built-in handle that lowers the quantity of packaging material used. (Source: Packaging Gate)
- On 2 July 2025, Sensormatic Solutions, which is a top leader in retail solutions profile of Johnson Controls, continued to develop the potential of Shrink Analyzer, which is a cloud-based loss prevention (LP) application. (Source: Ink World Magazine)
- In January 2025, Kite Packaging has announced the addition of four new shrink wrapping machines to its range of product offerings, designed to deliver improved efficiency and reliability.
- In February 2025, Innovia Films, a material science pioneer and major producer of BOPP films, announced the launch of the next generation shrink sleeve which is made of recycling-friendly polyolefin material, it aims to offer more sustainable solution and recyclable material.
- In October 2024, PACK EXPO announced the launch of Next-Generation Recyclable Multi-Purpose Shrink Film with PCR in collaboration with Clysar.
- In October 2024, Clysar at Pack Expo launched the next generation recyclable multi-purpose shrink film with PCR, which is a sustainable solution for brands and retailers over conventional non-recyclable shrink packaging.
In September 2024, Amcor launched the tiniest shrink bag for meat packaging, which will provide a solution for fresh and processed meat.
- In June 2024, Dow and RKW announced the launch and development of recycled plastic resin for shrink films through collaboration.
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