The compostable shrink wrap market refers to the production and sale of shrink wrap packaging material that is biodegradable and can be composted along with organic waste. Compostable shrink wrap is an eco-friendly alternative to traditional plastic shrink wrap, which is non-biodegradable and can have a negative impact on the environment. The demand for compostable shrink wrap is driven by increasing consumer awareness of the environmental impact of plastic waste and the growing need for sustainable packaging solutions. Additionally, regulatory initiatives aimed at reducing plastic waste and promoting sustainable packaging have also contributed to the growth of the compostable shrink wrap market.
The compostable shrink wrap market includes several players offering a range of solutions, including biodegradable shrink wrap made from materials such as PLA (polylactic acid), PBAT (polybutylene adipate terephthalate), and PHA (polyhydroxyalkanoates). Some of the leading players in the market include BioBag International, Inc., Futamura Group, Jindal Films, and Taghleef Industries. The market is also characterized by ongoing research and development efforts aimed at improving the performance and properties of compostable shrink wrap, including its strength, durability, and shelf life. Additionally, the development of new materials and production techniques is expected to drive innovation and growth in the compostable shrink wrap market in the coming years.
Overall, the global compostable shrink wrap market is expected to continue to grow in the coming years, driven by increasing consumer demand for sustainable packaging solutions and regulatory initiatives aimed at reducing plastic waste.
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Key findings of the Compostable Shrink Wrap market study:
- The report provides a present market outlook on Compostable Shrink Wrap. Additionally, the Compostable Shrink Wrap market share is anticipated to grow with a CAGR of 15% in the forecast period.
- Regional breakdown of the Compostable Shrink Wrap market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Compostable Shrink Wrap vendors in detail.
- Region-wise and country-wise fragmentation of the Compostable Shrink Wrap market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Compostable Shrink Wrap market.
- Compostable Shrink Wrap price, market share, and Trends forecast for assessment period 2021-2031
Compostable Shrink Wrap Market: Segmentation
Based on Material
- PLA (Polylactic acid)
- PHA (Polyhydroxyalkanoates)
- Starch blends
- Other Biodegradable polymers
Based on Applications
- Food packaging
- Industrial packaging
- Personal care & cosmetics
- Agriculture & horticulture
Based on Product Type:
- Unprinted
- Printed
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What makes this Research different from others?
- COVID- Impact analysis- The report includes details of the impact of the pandemic on the Compostable Shrink Wrap market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Compostable Shrink Wrap companies.
- Industrial trend analysis- The research covers recent trends in the field of Compostable Shrink Wrap which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
- Compostable Shrink Wrap Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.
Competitive Landscape
The Compostable Shrink Wrap industry is dominated by some prominent players including
- BASF SE
- Kingfa Sci. & Tech. Co., Ltd.
- Amcor PLC
- International Paper Company
- Mondi Group
- Smurfit Kappa Group PLC
- Greenpack Limited
- Biopak PTY LTD
- Treetop Biopak
- Berkley International Packaging Limited
The competition in the sector is driven by key parameters such as product price, targeted customer base, and strategic marketing. Major players in the market focused on the Compostable Shrink Wrap market innovation by investing more in research and development. Furthermore, the industry players are focusing on the extensive usage of online distribution channels for enhanced cost-effectiveness. The sustainability in the supply chain is a decisive factor for Compostable Shrink Wrap brands leading to an impact on the margin profits of firms.