Global Stretch Films Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The global packaging industry is expected to grow during the forecast period due to widespread applications in industries such as healthcare, food and beverages, cosmetics, and other consumer and industrial goods. Stretch films are highly engineered polythene films used in the packaging of goods.

Data Bridge Market Research analyses that the stretch films market was valued at USD 12.19 billion in 2021 and is expected to reach the value of USD 18.29 billion by 2029, at a CAGR of 5.20% during the forecast period of 2022 to 2029.

Market Definition

Stretch film is a thin plastic sheet that can be used to wrap around products while they are being transported. This is done to help reduce the risk of damage to the products being transported and protect them from the elements. Stretch film can also be used to hold items in place on shelves or to bundle products together. It is made up of two layers: an outer layer that stretches and an inner layer that only sticks when stretched.

Report Scope and Market Segmentation

Stretch Films Market Dynamics

Drivers

• Increasing shelf life of products in the absence of additional logistical support

The stretch films market is expected to grow at a constant pace due to increased R&D activities that result in new products that are more efficient than older ones. The various advantages, such as cost effectiveness, energy efficiency, user-friendliness, and a faster and better option than shrink film products, are actively driving the market growth rate. Increased disposable income, rising demand for sustainable sources in delivery and other food services, increased development of new government policies supporting packaging solutions are all driving market growth.

• The inherent nature of seaweed as a nutrient-rich source of food further supports the use of seaweed in packaging

Rising demand from the retail and hypermarket industries and the growing need for product packaging and the safety of goods during distribution and warehousing are all expected to act as major growth drivers in the stretch films market. Furthermore, the high demand from the electronics and related industries is contributing to the market's growth. The shifting preference for bakery products, ready-to-eat and frozen meals, as well as canned products such as vegetables, fruits, sea food, and meat, is expected to provide lucrative opportunities, fuelling the growth of the stretch films market during the forecast period.

Opportunity

The growing use of stretch and shrink films to replace traditional packaging materials can be attributed to the market's expansion globally. The presence of a number of international and domestic manufacturers in the economy and the increasing penetration of product-based secondary packaging are expected to benefit growth.The demand for LLDPE-based films in the food processing industry is expected to rise due to their high transparency and superior performance as a food contact material.

Restraints

However, rising raw material prices and growing consumer awareness of healthier lifestyles are acting as major constraints to the growth of the stretch films market during the forecast period, whereas biodegradability and recyclability are acting as major challenges to the growth of the stretch films market.

This stretch films market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the stretch films market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Stretch Films Market

To combat the spread of coronavirus, flexible packaging converters are developing packaging solutions that can keep up with the delivery of daily necessities. Stretch film sales for product packaging are expected to rise in order to ensure non-contaminated and safe product delivery to B2B and other consumers. During COVID-19, there were a few challenges for the sales of stretch films. The lack of transportation and logistical services hampered the delivery of raw materials required for the production of stretch films. The government's strict regulations have limited the productivity of stretch films. Stretch film production and sales began picking up due to effective planning by manufacturers and higher authorities, and are expected to reach new heights in 2021-2022.

Global Stretch Films Market Scope

The stretch films market is segmented on the basis of material type, type, product type, manufacturing type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material type

• Polyethylene
• Polypropylene
• Poly Vinyl Chloride

Type

• Hand Stretch Film
• Machine Stretch Film
• Specialty Stretch Film

Product type

• Wrap
• Hoods
• Stretch Labels
• Sleeves

Manufacturing type

• Cast Stretch Film
• Blown Stretch Film

Application

• Meat
• Poultry and Seafood
• Dairy
• Fresh Produce
• Other Foods
• Beverages
• Electronics
• Paper and Textile Products
• Consumer Products
• Others

Stretch Films Market Regional Analysis/Insights

The stretch films market is analysed and market size insights and trends are provided by country, material type, type, product type, manufacturing type and application as referenced above.

The countries covered in the stretch films market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.

North America dominates the stretch films market due to rising retail sales and increased use of stretch films in the region's industries. The Asia-Pacific region is expected to have the highest growth rate during the forecast period of 2022 to 2029, owing to China's large market share in the stretch films market as a result of rapid urbanisation.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Stretch Films Market Share Analysis

The stretch films market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to stretch films market.

Some of the major players operating in the stretch films market are:

• Eltech K-Laser s.r.l. (Taiwan)
• Kurz (Germany)
• Unifoil (U.S.)
• Light Logics Holography and Optics (India)
• Lasersec Technologies Pvt. Ltd.  (India)
• Uflex Limited (India)
• Polinas (Turkey)
• Spectratek (U.S.)
• API  Group(UK)
• Integraf LLC (U.S.)
• Everest Holovisions Limited (India)
• Holostik (India)
• Kama Holdings limited (India)
• Offset Group (Bulgaria)
• Zhejiang Jinghua Laser (China)
• SVG Optronics,Co., Ltd., (China)
• Shantou Wanshun(China).

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