The stretch hood film market is projected to experience steady growth over the next decade. According to recent estimates, the market size is anticipated to reach USD 1,066.7 million by 2034, reflecting a compound annual growth rate (CAGR) of 2.7% until 2034. In 2024, the market is valued at USD 820.4 million.
Stretch hood films are increasingly recognized for their efficiency and cost-effectiveness in securing and stabilizing palletized goods during transportation and storage. The steady growth of the market is driven by the expanding logistics and transportation sector, coupled with the rising demand for reliable packaging solutions across various industries, including food and beverage, pharmaceuticals, and consumer goods.
As businesses seek to optimize their supply chains and enhance the protection of their products, the adoption of stretch hood films is expected to rise. The market’s growth trajectory underscores the increasing importance of innovative packaging solutions in meeting the demands of modern logistics.
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Besides this, stretch hood film provides improved quality of wrapping. It gives a perfect presentation to the wrapped products eliminating the appearance of folds and creases which is common in shrink wrapping. Most of the consumers are gradually shifting to stretch hood films from tradition packaging and wrapping approaches as these films gives enhanced aesthetic looks, transparency, and gloss to show the contents of the load.
Stretch hood packaging offers great efficiency for securing pallet unit loads. Products packaged with stretch hood films enable maximum coverage as the package is covered horizontally and in transverse directions as per the packaging application.
Who is Winning?
- Sigma Plastics Group,
- Coveris Holdings S.A.,
- Novolex Holdings, Inc.,
- AEP Industries Inc.,
- Integrated Packaging Group Pty Ltd,
- Trioplast Industrier AB,
- Muller Load Containment Solution,
- RKW Group,
- Muraplast d.o.o.,
- Thrace Synthetic Packaging Limited,
- Rosenflex(UK) Limited,
Manuli Stretch S.p.A, Shields Bag and Printing Co., UAB Umaras, Gebr Duerrbeck Kunststoffe Gmbh Limited, Aalmir Plastic Industries, and NPF Polyfilms Pvt Ltd are prominent players in the stretch hood films market. The stretch hood films market is fragmented and the key players in the market hold a 15–20% share in the global stretch hood films market.
Polyethylene stretch hood films are highly sought-after. As per FMI, polyethylene will be used in the production of nearly 70% of stretch hood films produced through 2031. Among end users, the demand from the construction sector also is expected to rise in the coming years.
Key Takeaways of Stretch Hood Films Market Study
- Stretch hood films sales are poised to surge, enabling the market to exhibit 2.8% y-o-y growth in 2021, after a period of setback in 2020
- With manufacturing rising consistently, coupled with the demand for advanced packaging solutions, the U.S. will account for over 88% of sales in North America
- While 2020 proved uneventful, the U.K. market will register a positive 3.7% y-o-y growth in 2021
- Expansion of construction sector will fuel demand for stretch hood films in Japan and South Korea
- South Korea will exhibit higher rate of growth yet China will remain the dominant market for stretch hood films in East Asia
Stretch Hood Films Find Application in Diverse Industries
Stretch hoods machine is one of the latest palletizing technology and offers benefits when compared to other palletizing methods. In recent times, stretch hood films manufacturers have not only improved the packaging technique and quality, but also emphasized on the quality of raw materials used to enhance performance. Stretch hood films manufacturers are continuously working on production of stretch hood films with more elasticity and reduced thickness.
Using stretch hood films reduces plastic consumption by 20%-30% as compared to shrink hoods or stretch film. It encourages manufacturers to grab this opportunity and innovate products which are less harmful to the environment. These films can be recycled easily so it drastically brings down the recycling cost.
Increasing opportunities created by innovative product offerings are anticipated to induce established players to invest in research and development activities to further improve the performance of stretch hood films. Increased load stability and elasticity of stretch hood films have created lucrative opportunities for the manufacturers of stretch hood films to cater to multiple end-use industries such as food & beverage, textile, shipping, and construction among others.
Competitive Landscape:
The stretch hood film market is evolving and competitive, with established global companies, regional manufacturers, and new entrants. Coveris Holdings S.A., AEP Industries Inc., and Atlantis-Pak Co. Ltd. are among the market’s leading competitors, owing to their broad product portfolios, technological expertise, and extensive distribution networks. These industry leaders retain a competitive advantage by continually spending on R&D, providing innovative products, and strategically increasing their global reach.
Recent Developments:
- In February 2024, Charter Next Generation (CNG), a leading sustainable film creator, expanded its Titanium 5™ Stretch Hood film range to include Titanium 5P™ with 20% post-consumer recycled material. The new film has been road-tested and performs as well as or better than traditional film while also helping to achieve environmental goals.
- In February 2023, Berry Global’s flexible films business introduced a next-generation version of its popular stretch hood film that contains at least 30% recycled plastic. This will enable firms to achieve their own sustainability goals while also satisfying the requirements of existing and future British and European plastics packaging laws.
Key Players in the Stretch Hood Film Market
- Coveris Holdings S.A.
- AEP Industries Inc.
- Atlantis-Pak Co. Ltd.
- Muller Load Containment Solution
- Trioplast Industrier AB
- Sigma Stretch Film Corp.
- Thrace Group
- Malpack Corp.
- Integrated Packaging Films
- Malankara Plastics
- Innovia Films
- Malpack Corp.
- FlexSol Packaging Corp.
- RKW Group
- Berry Global Inc.
- Intertape Polymer Group Inc.
- Bollore Group
- Luban Pack
- Manuli Stretch S.p.A.
- Paragon Films Inc.
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Stretch Hood Film Market Segmentation:
By Material:
- Polyethylene
- Ethylene Vinyl Acetate
- Plastomers, Elastomers & Others
By Thickness:
- Up to 50 microns
- 50 to 100 microns
- 100 to 150 microns
- 150 microns & above
By End Use:
- Construction
- Food & Beverages
- Pharmaceuticals
- Consumer Product
- Paper Textile
- Chemical & Fertilizers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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