Stretch and Shrink Film Market

Stretch and Shrink Film Market Overview

While shipping products outs, various commercial packaging methods are widely available in the market. Among them, stretch wrapping is used for the collection of products such as pallets. It is a tightly wound plastic film, intended to bind many boxes. The stretch film secures load from getting damaged during transportation. Shrink film is a loose film of polyolefin plastic wrapped around the product and then heat is applied to the product, which shrinks the film to confirm the product size.

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Major Stretch and Shrink Film Market Drivers

The major factors accelerating the growth of the global stretch and shrink film market includes the high demand for packed food and beverages and numerous exceptional advantages over the conventional packaging. In past years, transporting goods from one place to another was a challenging task as transferring of products used to end up in product damage. However, with time methodologies have changed and simplified. Currently, for the transportation of products, stretch and shrink films are used for product wrapping.  They help in saving the wrapping time of employees in comparison to tedious hand wrapping. Along with fast wrapping, the packages are wrapped accurately without any loophole. Through wrapping machines, it is assured that no space in the product is remained unwrapped in order to avoid product damage. Thus, multiple benefits of stretch and shrink films over conventional methodologies or procedures enhances the growth of the market. Moreover, changing lifestyles of individuals are shifting their focus toward packaged food and beverages, which are easy to consume. This has increased the production of ready to eat foods and beverages, which has surged the adoption of stretch and shrink films for safe deliveries.

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On the basis of resin, the market is segmented into LLDPE, LDPE, PVC, and others. Among these, the LLDPE is expected to observe a higher CAGR during the forecast period. Low Density Polyethylene (LLDPE) is used for its superior impact, higher tensile strength, and puncture resistance. The strong demand for packed food has increased adoption of LLDPE as food packaging films are required to have high-performance film structure that is less permeable to enhance shelf life and flavors. It is also used for packaging of liquid containers, majorly for paperboard and paper packaging.

Based on products, the market is segmented into hoods, sleeves and labels, and wraps. Among these, the hoods segment would lead the market during the forecast period. The stretch hood film is basically adopted for the transportation of goods. The film is resistant and available for all sizes of loads, it provides firmness and support to goods, and protect them from any weather condition. Thus, the enhanced benefits of stretch hood film are resulting in increased adoption across the globe.

On the basis of application, the market is segmented into food & beverage, industrial packaging, consumer goods, and pharmaceutical. Among these, the food & beverage industry would lead the market during the forecast period. This is attributed to the increasing demand for packed foods including processed food, frozen food, bakery products, and others.

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Regional – Segment Analysis

Based on the region, the Asia Pacific is expected to lead the market during the forecast period owing to the increasing technological innovation in stretch films. Moreover, the increasing number of export and import of goods would boost the growth of the market in the region.

Top Market Players

The major players in the market include AEP Industries Inc., Amcor Plc., Berry Global Inc., Sigma Plastics Group, Bollore Inc., AAKRITI Packaging, Allied Propack Private Limited., American Eagle Packaging Corporation, AmTopp Films, Inc., and Baoding Enshi Pack Co. Ltd., among others.

Key Developments:

• • In 2020, Berry Global Inc, partnered with Georgia-Pacific Recycling, to create a closed-loop system to segregate, repair, and reprocess post-consumer resin (PCR). With this partnership, both companies would use their expertise to increase domestic recovery of plastics in support of evolution toward a more circular economy.
  • In 2019, Amcor merged with Bemis, a US-based flexible packaging company. With this merger Bemis additional capabilities, strengthened Amcor industry’s value proposition and generated significant value for shareholders. The mentioned combined entity now works as Amcor Plc.

Segments covered in the Report:

The global stretch and shrink film market has been segmented on the basis of resin, product, application, and region. Based on resin, the market is segmented into LLDPE, LDPE, PVC, and others. Based on product, the market is segmented into hoods, sleeves and labels, and wraps. Based on application, the market is segmented into food & beverage, industrial packaging, consumer goods, and pharmaceutical.

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Key questions answered in this research report:

• • At what pace is global stretch and shrink film market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global stretch and shrink film market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global stretch and shrink film market?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various applications of global stretch and shrink film market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Resin, By Product, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	AEP Industries Inc., Amcor Plc., Berry Global Inc., Sigma Plastics Group, Bollore Inc., AAKRITI Packaging, Allied Propack Private Limited., American Eagle Packaging Corporation, AmTopp Films, Inc., Baoding Enshi Pack Co. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Stretch and Sink Film Market by Resin

• • LLDPE
  • LDPE
  • PVC
  • Others

Global Stretch and Sink Film Market by Product

• • Hoods
  • Sleeves and labels
  • Wraps

Global Stretch and Sink Film Market by Application

• • Food & beverage
  • Industrial packaging
  • Consumer goods
  • Pharmaceutical

Global Stretch and Sink Film Market by Region

• • North America Stretch and Sink Film Market (Option 1: As a part of the free 25% customization)

    • North America Stretch and Sink Film Market by Resin
    • North America Stretch and Sink Film Market by Product
    • North America Stretch and Sink Film Market by Application
    • US Stretch and Sink Film Market All-Up
    • Canada Stretch and Sink Film Market All-Up

  • Europe Stretch and Sink Film Market (Option 2: As a part of the free 25% customization)

    • Europe Stretch and Sink Film Market by Resin
    • Europe Stretch and Sink Film Market by Product
    • Europe Stretch and Sink Film Market by Application
    • UK Stretch and Sink Film Market All-Up
    • Germany Stretch and Sink Film Market All-Up
    • France Stretch and Sink Film Market All-Up
    • Spain Stretch and Sink Film Market All-Up
    • Rest of Europe Stretch and Sink Film Market All-Up

  • Asia-Pacific Stretch and Sink Film Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Stretch and Sink Film Market by Resin
    • Asia-Pacific Stretch and Sink Film Market by Product
    • Asia-Pacific Stretch and Sink Film Market by Application
    • India Stretch and Sink Film Market All-Up
    • China Stretch and Sink Film Market All-Up
    • Japan Stretch and Sink Film Market All-Up
    • Rest of APAC Stretch and Sink Film Market All-Up

  • RoW Stretch and Sink Film Market (Option 4: As a part of the free 25% customization)

    • RoW Stretch and Sink Film Market by Resin
    • RoW Stretch and Sink Film Market by Product
    • RoW Stretch and Sink Film Market by Application
    • Brazil Stretch and Sink Film Market All-Up
    • South Africa Stretch and Sink Film Market All-Up
    • Saudi Arabia Stretch and Sink Film Market All-Up
    • UAE Stretch and Sink Film Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Stretch and Sink Film Market All-Up

Global Stretch and Sink Film Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AEP Industries Inc.
  • Amcor Plc.
  • Berry Global Inc.
  • Sigma Plastics Group
  • Bollore Inc.
  • AAKRITI Packaging
  • Allied Propack Private Limited.
  • American Eagle Packaging Corporation
  • AmTopp Films, Inc.
  • Baoding Enshi Pack Co.