Stretch And Shrink Film Market To Reach $25.16 Billion By 2030

Stretch And Shrink Films Market Growth & Trends

The global stretch and shrink film market size is expected to reach USD 25.16 billion by 2030, expanding at a CAGR of 5.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for the light-weight material for industrial packaging is expected to drive growth for the product over the forecast period. The introduction of superior shrink and stretch film materials such as Linear Low-density Polyethylene (LLDPE), extended Polyethylene (EPE) and High-Density Polyethylene (HDPE) is expected to further strengthen the pallet holding abilities of the films.

In addition, the development of bio-degradable stretch and shrink films by the leading manufacturers in a bid to counter the challenges of film disposal is expected to drive the demand over the forecast period. The demand is also expected to be driven by superior packaging properties such as improved printability, easier application and robust package sealing capabilities of the films. The low weight of the product results in a substantial decrease in the transportation cost thereby elevating the profit margins, resulting in the higher adoption of such packaging materials by the leading end-use industries.

Plastic packaging products are affordable and offer robust barrier properties, which contribute to their widespread penetration in food and beverage industry. With increasing government intervention in plastic product manufacturing, producers operating in stretch and shrink films packaging market are making efforts to offer products using eco-friendly and sustainable raw materials. Growing presence of large-sized packaged food, consumer goods, and pharmaceutical companies with robust penetration of distribution channels in Asia Pacific contributes towards the high market share of stretch and shrink films in the region. Additionally, upsurge in e-commerce sales in the countries of region such as India, China, Indonesia is expected to contribute towards the growth of the market during the forecast period.

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Stretch And Shrink Films Market Report Highlights

• The LLDPE films segment is expected to witness growth owing to increased collaborations undertaken by key companies to develop LLDPE films. The demand for LLDPE is driven by its superior pallet unitization characteristics coupled with increased damage resistance during product transportation

• Stretch and shrink film hoods are expected to register highest growth rate during the forecast period. The growth is expected to be driven by increasing demand for hoods in industrial packaging and consumer goods packaging. Also, ease of packaging achieved by stretch and shrink film hoods are expected to drive the demand for the product over the forecast period

• The food and beverages segment accounted for revenue share of 40.9% driven by the increasing demand for high strength, low weight packaging materials. In addition, ease of packaging material sterilization is expected to further drive the demand for stretch films for food packaging during the forecast period

• The sleeves and labels segment is expected to witness robust growth on account of rising demand for the product in the beverage industry. Also, easier product marketing and branding owing to the ease of application of the labels onto the bottle is expected to attract major beverage manufacturers towards the product segment

• The demand for the product in Asia Pacific is expected to witness growth owing to rapid growth of the application industries such as food and beverage and consumer goods. In addition, growing import and export activities by the developing economies such as India and China are expected to drive the demand for low weight packaging material for pallet unitization of industrial goods

Stretch And Shrink Films Market Segmentation

Grand View Research has segmented the global stretch and shrink film market based on material, product, application, and region:

Stretch And Shrink Film Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Linear Low-Density Polyethylene (LLDPE)

• Low Density Polyethylene (LDPE)

• Polyvinyl Chloride (PVC)

• Other Materials

Stretch And Shrink Film Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Hoods

• Sleeves and labels

• Wraps

Stretch And Shrink Film Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Food & beverage

• Industrial packaging

• Consumer goods

• Pharmaceutical

Stretch And Shrink Film Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

•  Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in Stretch And Shrink Film Market

• Sigma Plastics Group

• Berry Global Inc.

• Paragon Films

• Millennium Packaging, Inc

• Sealed Air

• HIPAC Spa

• Bollore Inc

• Amcor plc

• Italdibipack SpA

• LUBAN PACK

• A-Z Packaging

• FilmSource Packaging

• Atlantic Packaging

• Dow

• Shaktiman Packaging Pvt. Ltd.

• REELEX Packaging Solutions, Inc.

• Klöckner Pentaplast

• Balcan Innovations Inc

• Exxon Mobil Corporation

• Singhal Industries Pvt. Ltd.