Robust expansion of the e-Commerce industry is underpinning the widening of the shipping & logistics sector. Suppliers of different industry verticals are opting for stretch film packs to package their products. This can be attributed to distinct properties of stretch film packs like easy molding, lightweight, clarity, etc. This packaging is wrapped around the product, thus giving appropriate tension to keep the product(s) intact.
The growth of the global stretch film packs market, with a projected CAGR of 3.3% and an estimated value of US$ 21,820.58 million by 2033, is being driven by the increasing demand for this flexible packaging solution. Characterized by its corrugated pad and unique qualities such as lightweight design, ease of molding, and exceptional clarity, stretch film packs are gaining popularity. However, the market faces challenges from growing consumer preferences for healthier lifestyles and the rising costs of raw materials, which may hinder its growth.
The business growth of stretch film packs is accentuating due to robust industrialization, the surge in retail outlets, and peaking consumerism. Furthermore, rising traction for stretch film packs instead of clamshell packs or blister packs is projected to boost the market share of stretch films packs.
The global market for stretch film packs is experiencing a notable uptick in demand, attributed to its versatility as a flexible packaging solution featuring a corrugated pad. This packaging solution is gaining popularity due to its distinct attributes, including lightweight construction, ease of molding, and exceptional clarity. These qualities make stretch film packs a preferred choice for various industries seeking adaptable and efficient packaging solutions.
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Growth Opportunities
The demand for LLDPE-based films is anticipated to rise, primarily attributed to their high transparency and superior performance as a food contact material. Furthermore, the increasing utilization of product-based secondary packaging is making a significant contribution to the market’s expansion. These trends reflect a promising future for the stretch film packs market.
The growing adoption of stretch films to replace traditional packaging materials is poised to bring substantial growth opportunities for the market. Additionally, the market is expected to receive a significant boost due to the presence of numerous international and domestic manufacturers in the industry.
Key Developments in the Market
- In February 2022, Canada’s federal government authorized the utilization of recycled plastics in stretch films and other products. The Environment and Climate Change Canada (ECCC) and Federal Environment Agency issued a notice that it is planning to draft a regulation for the least recycling content, probably by 2022 end. In general, the government of Canada plans to mandate a 50% proportion of plastic packaging to be constituted of recycled content by 2030.
- In August 2021, C-P Flexible Packaging, which is a flexible packaging vendor, declared that it had acquired Prestige-Pak Inc., a private Wisconsin manufacturer that primarily develops shrink and other film types for the retail food market. With a recent acquisition, C-P Flexible widened its multi-plant manufacturing base to offer robust response and print quality.
- Innovia Films, which is a subsidiary of CCL Industries, introduced a new film in its Propafilm offering of transparent specialty packaging films in November 2021. CHS offers enhanced thermal resistance and contraction properties as opposed to conventional polypropylene films. The new offering is designed to replace traditional outer web films in laminates for applications like lidding and pouches in diverse food markets.
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Key Market Players
- Berry Global Inc.
- DuPont
- Smurfit Kappa Group
- Atlas Container Corporation
- Eltech K-Laser s.r.l.
- Kurz
- Unifoil
- Light Logics Holography & Optics
- Lasersec Technologies Pvt. Ltd.
- Uflex Limited
- Polinas
- Spectratek
- API Group
- Integraf LLC
- Everest Holovisions Limited
- Holostik
- Kama Holdings Limited
Key Segments in the Stretch Films Packs Market
By Type:
- LLDPE
- LDPE
- PVC
- Others
By Product:
- Hoods
- Sleeves and Labels
- Wraps
By Application:
- Wine Packaging
- Crockery Packaging
- Glassware Packaging
By Industry:
- Food & Beverage
- Consumer Goods
- Pharmaceutical
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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