Stretch Packaging Market is predicted to grow at a CAGR of 5.71% by 2030
During the forecast period, the stretch packaging market is predicted to increase at a CAGR of 5.71 percent. Food and beverage sector expansion and global pharmaceutical industry growth are two important variables impacting growth.The worldwide packaging business is moving toward more efficient and faultless packaging solutions. As a result, there has been a rapid increase in the supply of new stretch wrap machines and the substitution of shrink wrap machines with stretch wrap machines on the global market. Stretch films' future in the packaging sector isn't just about incorporating more connecting technologies.
Goals including robust and durable packaging and product safety and barrier qualities will necessitate technological breakthroughs. Bio-based materials are anticipated to play a crucial part in this, allowing stretch filmmakers to meet their sustainability targets. Stowage and distribution markets, as a result of increased retail commerce and imports and exports between regions, all contribute to the worldwide stretch films packaging market's growth. On the other hand, Stretch films are less moisture resistant than shrink film and hence provide less climatic protection. Biodegradability has also developed as an environmental concern, hindering the stretch film market's growth to a greater level. As a result, governments in various nations have begun to support bio-based technologies, creating an opportunity for market participants to create a biodegradable stretch film.
The prominent players in the stretch packaging market include Bemis Company, Inc. (U.S.), Berry Global, Inc. (U.S.), Amcor Ltd (Australia), Sigma Plastics Group, Inc. (U.S.), AEP Industries Inc. (U.S), DUO PLAST AG (Germany), Unnati Industrial Corporation (Inda), U.S. Packaging & Wrapping LLC (U.S.), and Grafix Arts (U.S.).
Stretch packaging is used where goods should be tightly held together and secured for transportation.
Global stretch packaging market has been segmented based on material, application and region. On the basis of material, the market is segmented as Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC). Low Density Polyethylene dominates the material segment of the market. Majority of the end users use LDPE for stretch packaging. LLDPE is expected to be the fastest growing material segment. PVC is a dense material. It is considered a common material in India, when clarity is an important selection criterion, particularly for consumer packaging. On the basis of application, the market is segmented as food & beverages, industrial product, consumer product, and others. Food & Beverages segment dominates the application segment of the market. Increased consumption of food & beverages across the globe, drives the demand of beverages.
The report for Global Stretch Packaging Market of Market Research Future comprises extensive primary research findings along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.Recent Development
Mar 2022 A private equity-backed Swedish business has purchased a £30 million revenue stretch-film producer based in Telford. Eurofilms Extrusion, joining the Trioworld Group, serves customers in the distribution, beverage, food, and industrial packaging industries. Eurofilms has made significant progress in recent years, assisting the safer transportation of products on the UK and European highways. The impressive array of innovative items and excellent customer service are impressive. The company has made significant investments, and management concentrates on growing the product offering to clients.
Mar 2022 DUO PLAST and BASF have launched the first stretch film appropriate for use in potentially explosive atmospheres by equipping DUO EX-TRA with the static dissipative polymer Elastostat. Due to the static charge, conventional stretch films are not allowed for volatile regions, and pallets must be resealed before entering. Elastostat, a dissipative polymer based on TPU (thermoplastic polyurethane) from BASF Polyurethanes GmbH, has been added to DUO EX-TRA, a PE blown film created by DUO PLAST.
|Market Size||2030: Significant Value|
|CAGR||5.71% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bemis Company, Inc. (U.S.), Berry Global, Inc. (U.S.), Amcor Ltd (Australia), Sigma Plastics Group, Inc. (U.S.), AEP Industries Inc. (U.S), DUO PLAST AG (Germany), Unnati Industrial Corporation (Inda), U.S. Packaging & Wrapping LLC (U.S.), and Grafix Arts (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||
The CAGR of the stretch packaging market is 5.71%.
The eminent players operating in the stretch packaging market are Bemis Company, Inc. (U.S.), Amcor Ltd (Australia), Berry Global, Inc. (U.S.), Sigma Plastics Group, Inc. (U.S.), DUO PLAST AG (Germany), U.S. Packaging & Wrapping LLC (U.S.), AEP Industries Inc. (U.S), Unnati Industrial Corporation (Inda), and Grafix Arts (U.S.).
Rising demand for packaging solutions that require goods to be held tightly together is likely to augment the stretch packaging market.
The segments of the stretch packaging market based on material are Linear Low Density Polyethylene (LDPE), Low Density Polyethylene (LLDPE), and Polyvinyl chloride (PVC).
The application based segments of stretch packaging market are food & beverages, consumer product, industrial product, and others.