COVID-19 has seen a huge demand for shrink wrap from product manufacturers.
With the recent changes in the manufacturing industries due to the COVID-19 pandemic, several steps have been taken to ensure that various products continue seamlessly. The shrink wrap business has seen tremendous demand with an expected growth of a 5.1% CAGR till 2027.
The demand for shrink wraps stems from the need for products such as food and beverage, electronics, pharmaceuticals, and cosmetics. The COVID-19 pandemic intensity has made an increase in goods to skyrocket due to the inevitable decrease of items in the market. However, the demand for products has seen an increase in an online purchase as more consumers have sought to seek things virtually, curb the rising lack of clients at their physical stores, and reduce the spread of infection. Therefore, the demand for online orders has seen the rise for non-perishable items escalate due to fear of demand extinction, thereby escalating the need for shrink wraps to the product manufacturers.
Shrink wrap packaging is manufactured to bind the product components to prevent spillage and ensure proper storage, especially when shipping and transportation. Shrink wraps consist of a polymer plastic wrap that consists of polyolefin, polyethylene, and PVC, each offering unique characteristics for use in different areas. Polyvinyl chloride is the most commonly used in the industry with a wide range of capabilities in rigid and flexible constructs such as construction industries, software, and automobile use. However, its sustainability poses some disadvantages giving way to polyethylene and polyolefin.
Polyolefin is FDA approved, versatile, and durable. It comes with high tensile strength modifications, preventing punctures, and giving an aesthetic appearance. It is suitable for uses in food, books, and toys, among others. Polyethylene consists of high density, low density, and linear low-density types. Polyethylene, unlike PVC and PO, offers a higher gauge standard.
Shrink wraps vary in different sizes, shapes, shrink ratios, and patterns depending on the manufacturer’s specifications. The packages bound by shrink wraps are wrapped and sealed using a heat machine that glues it together.
The shrink wraps should be manufactured depending on the type of product being packaged, color or labeling required method of packaging, the environment in which the package will be stored, anti-tampering requirements, and product’s transportation. By observing these recommendations, the supplier will be informed of the proper shrink wraps to maintain appropriate standards.
The raw materials used in shrink wraps enable packaged items faster and efficiently and provide a clean and neat final product for use. The presence of polyolefin enables the shrink wrap packaging to be recyclable and easily printed instead of other plastics. The high quality of shrink wraps also allows the user to gravitate towards purchasing items wrapped in them. The components of shrink wraps can be combined with different additives for manipulation in various uses. This can also help in manipulating other appearances, depending on what is being packaged. For instance, shrink wraps can be flattened, tubed, banded, or overwrapped.
The shrink wraps supplier should consider the different variations and constructions of shrink wraps, depending on temperature, force, memory, and sealability.
When determining the cost of shrink wraps, suppliers should consider the projected production levels to identify the type of machine and wrap that will be needed. Therefore, an accurate forecast of the production levels will ensure efficiency and the intended size of the shrink wrap.
The increase in disposable income has seen the shrink wrap market advance to accommodate packaged foods and items. The availability and versatility of shrink wrap to accommodate various items will increase the shrink wrap supply in the coming future.
The growing industrialization and urbanization have positively impacted the shrink wrap industry by enabling items to be dispatched at high frequencies and rapid intervals. Shrink wraps are manufactured in various regions, including Asia-Pacific, Europe, and North America. Countries like China and India are the highest manufacturers and consumers of shrink wraps due to the growing population.
The key players in the industry include Dow chemical company, Amcor Ltd, American Eagle packaging, Deufol SE, Printpack Inc., among others. New entrants in the market should adopt the above practices to stay ahead of the game and gain consumers for their products.
Sustainable changes for shrink wrap suppliers
The shrink wrap industry should employ some distinct changes to enhance sales and manufacturing of shrink wraps in years to come. For instance, modifications to shrink wrap machines should be made to make them more accessible and available to suppliers. This will reduce the shrink wraps’ overall charges, enabling more production and distribution in the industry. The variations in shrink wrap machines include I-Bar sealers, hand impulse sealers, and handheld sealers should also be modified to encourage various suppliers’ usage.
Key players in the industry should also strive to incorporate new and trending designs in shrink wrap manufacturing and prevent hiccups in packaging solutions. For instance, packaging products’ seamless adoption is essential to avoid dog ears, hairs, and ballooning. Using a pre-perforated shrink wrap should also be adopted, dependent on the product intended for its use.
It is also essential for suppliers to ensure their products are sustainable. For instance, adopting sustainable materials by meeting the required standards by not emitting harmful chemicals is vital in the industry takeover.
Suppliers should also strive to ensure their products are cost-efficient to make considerable profit margins. When looking to understand the cost of shrink wraps according to the market specifications, the suppliers should consider the roll costs, gauge length, and different formulations that may decrease wastage.
For instance, corrugated packaging, especially in heavy and large products, can be eliminated by ensuring the shrink wraps are correctly secured. Using the right width film also prevents wastage and enhances the package’s aesthetic. However, this should not seek to downgrade the quality of shrink wrap material but serve to improve functionality while reducing costs.
Suppliers in this industry should always consider their target audience on their design modifications. Conducting due diligence by researching and understanding their key demographics will significantly improve marketing and branding decisions and target the right customers for the products.