Global Stretch and Shrink Film Market is predicted to reach USD 24.4 billion at a CAGR of 5.50% during the forecast period:

Pune, India, June 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Stretch and Shrink Film Market.

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  Market Research Future (MRFR) has published a cooked research report on the “Global Stretch and Shrink Film Market” that contains information from 2022 to 2030. The Global Stretch and Shrink Film Market is estimated to register a CAGR of 5.50% during the forecast period of 2022 to 2030.

  
  

  MRFR recognizes the following companies as the key players in the Global Stretch and Shrink Film Market— Dow, Berry Plastics, Vitopel, Anchor Packaging, Intertape Polymer Group, Bemis Company, Paragon Films, and FUJI.

  
  

  Market Highlights

  
  

  The Global Stretch and Shrink Film Market is accounted to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 24.4 Billion by 2030.

  
  

  The Global Stretch and Shrink Film Market refers to the worldwide industry involved in the production, distribution, and consumption of stretch and shrink films. This type of film is designed to be stretched around items to secure them tightly together. It provides load stability, helps prevent shifting during transportation, and protects items from dust, moisture, and tampering.

  
  

  The global market for stretch and shrink films encompasses manufacturers, distributors, retailers, and end-users across various industries. The rise of online shopping has led to a surge in demand for packaging materials that protect items during shipping and improve the unboxing experience for customers. The market's growth trajectory is influenced by economic conditions, technological advancements, environmental concerns, and changing consumer preferences.

  
  

  Segment Analysis

  
  

  The Global Stretch and Shrink Film Market has been segmented based on resin, product and application.

  
  

  On the basis of resin, the market is segmented into LLDPE, LDPE and PVC. The LDPE segment dominated the market due to the availability of LDPE films for protecting and displaying the product on the shelves in a range of gauges and sizes.

  
  

  Based on product, the market has been segmented into Hoods, Sleeves and Labels and Wraps. The sleeves and labels segment dominated the market. The need for sleeve labels is anticipated to increase as the packaging offers an extra option for the marketing and branding of the product.

  
  

  Based on application, the market has been segmented into Food & Beverage, Industrial Packaging and Consumer Goods. The food & beverage segment dominated the market. Due to the strong demand for packaged foods, such as bakery goods, frozen dinners, snack foods, and ready-to-eat meals. 

  
  

  Regional Analysis

  
  

  The Global Stretch and Shrink Film Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Stretch and Shrink Film Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Stretch and Shrink Film Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Stretch and Shrink Film Market comprises of Middle East, Africa, and Latin America.

  
  

  The North American region has a mature packaging industry. E-commerce growth, increased consumer spending, and a focus on sustainable packaging solutions are driving the demand for innovative stretch and shrink films in this region.

  
  

  European countries have well-established packaging industries with a strong emphasis on sustainability. The market is driven by the demand for eco-friendly packaging solutions and the need for efficient transportation and storage of goods.

  
  

  The Asia-Pacific region is experiencing rapid economic growth and urbanization. This drives the demand for packaging materials in various industries. Price sensitivity, varying regulations across countries, and the need to balance cost-effectiveness with quality are challenges faced by manufacturers.

  
  

  Furthermore, the rest of the world's Global Stretch and Shrink Film Market is divided into the Middle East, Africa, and Latin America.  Latin American countries like Brazil, Mexico, and Argentina have emerging markets with increasing consumption patterns. The packaging industry is influenced by factors such as urbanization and changing lifestyles.

  
  

  Key Findings of the Study

  
  
  
  
  • The Global Stretch and Shrink Film Market is expected to reach USD 24.4 Billion by 2030, at a CAGR of 5.50% during the forecast period.
  
  
  • The Asia-Pacific region is experiencing rapid economic growth and urbanization. This drives the demand for packaging materials in various industries. Price sensitivity, varying regulations across countries, and the need to balance cost-effectiveness with quality are challenges faced by manufacturers.
  
  
  • Based on application, the market has been segmented into Food & Beverage holding the largest market in 2022.
  
  
  
  

  Dow, Berry Plastics, Vitopel, Anchor Packaging, Intertape Polymer Group, Bemis Company, Paragon Films, and FUJI

  
  
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