Analysis of Compostable Shrink Wrap market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The popularity of compostable shrink wrap is spreading worldwide acceptance of these shrink wrap due to their properties like adhesiveness, bio-degradability and easy recyclability. All the organizations claiming to be green organizations using green practices in their product manufacturing as well as packaging, can market their product as environmentally friendly and differentiate it from their competitors.
The growth of the food & beverage industry and demand for packaged foods rising, along with the promise of brands to deliver fresh products to the consumers, gives a boost to the global compostable shrink-wrap market and staggering estimates for the forecasted period.
The environmentally concerned and educated consumer base forms a major part of the population in today’s market, to deliver easy to dispose of and bio-degradable supplies to fulfil consumer needs in the food & beverage industry along with the cosmetics and personal care industry. The compostable shrink wraps are very much useful for manufacturers and marketers to capture market share and also being environmentally friendly with the same solution.
The compostable shrink wrap provides a cost-effective packaging solution to the manufacturers and comes as a solution to the market trend of hassle-free and transparent packaging of the product & offers. The factors like the higher cost of compostable shrink wrap as compared to other non-biodegradable options may affect the growth of bio-degradable wraps globally. Also, the poor performance of the compostable shrink wrap against heat resistance, air, water and oxygen against the non-compostable shrink wraps are major performance-related issues.
With the favourable government policies and demand for environment-friendly packaging by the consumers in the American market, the USA is the major shareholder in the global compostable shrink-wrap market. The European market having manufacturers and consumers opting for sustainable products and packaging over the environmentally harmful products and offerings, and strict laws over usage of harmful plastics make it a developed market for compostable shrink wraps.
The growing food and packaged foods industry in the major countries of Europe indicates a high growth rate of compostable wraps in the upcoming decade. The Asian region with emerging countries like India, China and Malaysia which are major consumers of packed foods and cosmetics which are major end-user industries of compostable shrink wraps. Also, the increased awareness about food preservation and quality of the products are driving the consumer preference towards packaged and shrink-wrapped foods.
The compostable shrink wraps are comparably less popular in the Asian market than compared to the European and North American regions, more lucrative opportunities for the future are offered by the Asian region in the forecasted period. The developing regions of the globe like Middle Eastern and African parts are also moving towards the usage of lesser harmful materials for packaging as well as manufacturing of products. The untapped market with huge potential awaits in those parts of the world offering staggering growth potential for the future of the compostable shrink-wrap market.
Major players providing Compostable Shrink Wrap are
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The report Compostable Shrink Wrap Market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Compostable Shrink Wrap Market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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