Global Stretch Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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The Stretch Packaging Market report has been segmented on the basis of material type, end-use, and region.
Stretch Packaging Market Overview:
“The Stretch Packaging Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Stretch packaging - highly stretchable plastic film which plays an important role in delivering and transporting to protect the product from damage.
Stretch packaging or stretch films, consists of durable handheld and bulk containers, pallets, shipping racks, dunnage, and other related items intended to be protected the product from harmful environment.
This packaging is designed to promote durability, ease of use, and cleaning purposes. Such packaging is used to safely transport the products throughout the supply chain system and provides efficient and cost optimum transportation, handling, and distribution of products.
Stretch Packaging Market Dynamics:
The growing food & beverage sector coupled with shifting preference toward lightweight and safe packaging solutions is a major factor expected to drive the growth of the market over the forecast period.
The increasing population base, growing disposable income, rising inclination towards packaged food, and the growing trend of urbanization are some of the major aspects, also anticipated to propel the demand for stretch packaging material and drive the growth of the target market.
Moreover, with the flexibility and easy handling features of shrink wrap packaged products, shrink packaging has become a preferred consumer choice in the global packaging industry.
Recent trend shows that global manufacturers increasing expenditures on R&D activities to improve the material handling processes in the supply chain.
Operation costs of the target product have reduced owing to some factors such as the availability of multiple options to choose from, recyclability of these packages, etc., which are anticipated to fuel the market growth over the forecast period.
Other factors such as transparency, suitable display for retail and wholesale products, and ideal for general marketing purposes are creating ample opportunities for growth of the target market.
Stretch Packaging Market Analysis by Segment:
On the basis of material type, the Low-density polyethylene (LDPE) segment is expected to hold a significant share in the market over the forecast period. It is projected to be the most lucrative segment during the forecast period, owing to increasing use in the packaging industry.
On the basis of end-use, the target market is segmented into food & beverage, pharmaceutical, personal care, and others. The Food & beverages segment is expected to register a significant growth rate in terms of revenue over the forecast period.
Stretch Packaging Market Geography Analysis:
Geographically, the global stretch packaging market is divided into major regions which include North America, Europe, Asia Pacific, Latin America and the Middle East, and Africa.
The North American stretch packaging market accounts for the maximum share in the global market owing to increasing consumption and demand for stretch films for ready-to-eat food, along with material innovation.
Moreover, factors such as concerns and awareness for sustainable packaging technologies are also expected to drive the growth of the market in countries in the region. Further, rapidly growing industrialization in emerging countries is expected to boost the market revenue of the stretch packaging market in the Asia Pacific region.
The market in Europe is expected to witness lucrative growth in the near future, followed by North America.
Furthermore, the Middle East and African markets are likely to witness growth owing to rising urbanization coupled with growing disposable income which is projected to contribute to the growing demand for the stretch packaging market.
Global Stretch Packaging Market Segmentation:
Segmentation by Material Type:
- Polyethylene (PE)
- Linear low-density polyethylene (LLDPE)
- Low-density Polyethylene (LDPE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
Segmentation by End-use:
- Food & Beverage
- Personal Care
- Others (Electronics, Paper & Textiles)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bemis Company, Inc.
- Berry Global, Inc.
- Amcor Ltd
- Sigma Plastics Group, Inc.
- AEP Industries Inc.
- DUO PLAST AG
- Unnati Industrial Corporation
- S. Packaging & Wrapping LLC
- Grafix Arts
- Sealed Air
- Paragon Films
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