The global stretch film packs market is projected to secure a bearish CAGR of 3.3% during the forecast period, and attain a value of US$ 21,123.5 Mn by 2032. The current valuation of the market stands at US$ 15,312.0 Mn in 2022.
The shipping & logistics sector is growing on the backdrop of e-Commerce industry, wherein consumers ensures the delivery of the products in pristine condition. Stretch film packs is a flexible packaging solution which consists of a corrugated pad to which stretched plastic films is attached. Stretch film packs possess unique properties like lightweight, easy moulding, clarity etc. making it a better choice for packaging of products. The film stretches around the product giving required tension to hold the products securely in place.
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Stretch film pack has barrier properties such as weather proof, dust proof etc. stretch film pack is used to secure and unitize loads. The most common application of stretch film packs is to bundle multiple products together and secure the product over transportation. Stretch film packs offers flexibility in packaging as multiple products can be bundled together. Stretch film packs offers packaging solutions to various industries such as food and beverages, healthcare, electronics etc. Shrink films possess unique properties like lightweight, easy moulding, clarity etc. making it a better choice for packaging of products.
Stretch Films Packs: Market Dynamics
The factors accentuating the market growth of the stretch films packs market are rapid industrialization, rising demand for consumer goods, increase in retail outlets etc. Increased traction of stretch films packs in place of blister packs or clamshell packs tends to drive the market share of stretch films packs. The key features accentuating the market share of stretch films packs is that stretch films packs are not easily punctured by pointed objects and sharp edges, especially during transportation of the products. Furthermore, stretch films packs reduces the packaging volume during transit by using the less films overall helping manufacturers who are seeking for material cost reduction.
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In addition to this, stretch film packs have excellent appeal for product display and offers consumers a convenient packaging solution such as easy to use, lightweight etc. stretch films packs offers flexibility in packaging solutions as multiple products can be packaged simultaneously increasing cost and productivity efficiencies. Stretch films packs eliminates the product damage during transportation, and therefore the manufacturers have been attracted towards the stretch films packs. Moreover, reduced prices of crude oil in developing economies is expected to increase the momentum of stretch films packs market attributed to cheap availability of raw materials.
Stretch Films Packs: Regional Outlook
Stretch film packs market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America is expected to dominate the market share of stretch film packs owing to the consolidation of the manufacturers in the region. North America is followed by Western Europe due to increasing penetration of e-commerce and shipping and logistics in the region. APEJ is anticipated to register the highest growth rate during the forecast period owing to the reduced price of raw materials and low cost availability of labor. MEA region is expected to register stagnant market during the forecast period due to stagnant economy.
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Stretch Films Packs: Key Players
Some of the key players in the field of stretch film pack market are DuPont, Smurfit Kappa Group, Atlas Container Corporation, Berry Global Inc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights : Detailed overview of parent market,Changing market dynamics in the industry,In-depth market segmentation,Historical, current and projected market size in terms of volume and value,Recent industry trends and developments,Competitive landscape,Strategies of key players and products offered,Potential and niche segments, geographical regions exhibiting promising growth,A neutral perspective on market performance,Must-have information for market players to sustain and enhance their market footprint.
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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
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