Rising demand for lightweight and environmentally sustainable materials for packaging is expected to propel growth in the stretch films market, finds Future Market Insights (FMI) in a new study.
Increasing demand in ecommerce and food & beverages sector for bulk packaging is expected to drive the market growth. These films ensure strong and time saving packaging, making it a popular product in the market. Increasing caution regarding hygiene and concerns regarding the environment have increased demand for stretch films as they provide air tight packaging and can be recycled or incinerated following usage.
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Key Takeaways from the Stretch Films Market Report
- The stretch films market is expected to grow at a CAGR of 4.7% due to increasing demand for safe and efficient packaging
- South Asia is expected to offer lucrative growth opportunities to the market applications of stretch films in the food and beverages industry continue to rise
- Linear low density polyethylene (LLDPE) will remain the preferred polyethylene due to demand for damage resistant packaging during product transportation
- Demand from the food and beverages industry is expected to grow due to increasing use of stretch films for strong and lightweight packaging
Market Growth to Amplify?
“Durable and Tear Resistant Flexible Packaging Formats to rule”
Flexible packaging is widely preferred due to being cost-effective, durable, and lightweight. Flexible packaging occupies smaller spaces during accommodation on shelves. Flexible packaging formats such as stretch films enhance the aesthetic appeal of the product and can augment product branding, added with durable packaging. Thus, an increasing inclination of product manufacturers towards the adoption of flexible packaging solutions over rigid packaging in primary packaging is observed.
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Who Is Winning?
Companies operating in the market are alternatives to increase sustainability. Innovations and advancements by leading players are intended to gain competitive advantage in the market.
Megaplast introduced ‘Fiber Stretch Films’ that contain 30% PCR content that enable recycling and are an eco-friendly choice.
Barbier Group’s Recyplast is integrated using 20% of real post consumer waste. Their down gauged films display 15% cost reduction.
Some of the key players in the stretch films market are Dow Chemical Company, Norflex, ERGIS Group, Veritiv Corporation, Berry Plastics, Paragon Films, Intertape Polymer Group, AEP Industries Inc., Sigma Stretch Film Crop., Anchor Packaging Inc., Scientex Berhad, Coveris Inc., Smurfit Kappa Group, Vishakha Polyfab, Allen Plastic Industries Co. Ltd., Interplast Group and Manuli Stretch.
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Key Segments Covered in Stretch Films Industry Research
Stretch Films Market by Material:
- Polyethylene (PE)
- High – DensityPolyethylene (HDPE)
- Low – DensityPolyethylene (LDPE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
Stretch Films Market by Manufacturing Process:
- Cast Stretch Film
- Blown Stretch Film
Stretch Films Market by End-use:
- Food and Beverages
- Consumer Product
- Chemicals &Fertilizers
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