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Shrinkage may refer to:
- Shrinkage (accounting), the loss of product inventory
- Shrinkage (statistics), a technique to improve an estimator
- Shrinkage (fabric), a common problem when laundering garments
- Shrinkage (casting/molding), slight dimensional reduction brought about by the reduction in volume of the cast or molded material as it cools and solidifies. When shrinkage of a part will present fitting problems, e.g., interchangeability, the casting pattern/mold cavity is made slightly larger.
- Slang term referring to human penis size, particularly when the penis and scrotum contract in response to chilling
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