Global Stretch Hood Films Market – Industry Trends and Forecast to 2029

Global Stretch Hood Films Market, By Material (Polyethylene, Plastomers, Elastomers, Ethylene Vinyl Acetate, Others), Thickness (Up to 50 Microns, 50-100 Microns, 100-150 Microns, 150 Microns and Above), Application (Ceramic, Tiles and Bricks, Cement, Building Adhesives, Fertilizers, Topsoils and Compost, Pellets, Fodder, Wheat and Cereals, Others), End User (Pharmaceuticals, Cosmetics, Food

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 hood films are anticipated to be in high demand because of how affordable and simple they are to use. The rise of the global pharmaceutical and food and beverage industries is anticipated to have a favorable effect on demand for stretch hood films globally throughout the duration of the projected period.

Global Stretch Hood Films Market was valued at USD 759.88 million in 2021 and is expected to reach USD 1448.70 million by 2029, registering a CAGR of 8.40% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Stretch hood films is a kind of pallet wrapping that entails stretching a very strong stretch film over and around a pallet filled with finished goods. The film is stretched and pulled over the load using a stretch hooder device from the top to the base of the pallet, resembling a hood.

Stretch Hood Films Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growth In Demand for Stretch Hood Films

Stretch hood films are anticipated to have strong demand from a number of industrial sectors, including the food, beverage, pharmaceutical, and cosmetic industries. Stretch hood films are chosen over other wrapping options like stretch wrap and shrink wrap due to their affordability and simplicity of use. The rise of the global pharmaceutical and food and beverage industries over the past few decades is anticipated to have a favorable effect on demand for stretch hood films globally throughout the duration of the projected period. In the world's emerging economies, the cosmetics business has also emerged as a booming sector, and the trend is predicted to continue during the forecast period.

Furthermore, the creation of new government legislation supporting packaging solutions and rising disposable income all contribute to the market's expansion. The expanding demand for sustainable sources in delivery and other food services will drive market value growth. The market growth rate is being actively driven by the several benefits, including affordability, energy efficiency, user-friendliness, and a quicker and better alternative than shrink film goods.

Opportunities

• Research and Development Activities

The market players are largely investing across research and developmental activities which further extends various profitable opportunities to the market players in the forecast period of 2022 to 2029.

• Advancement and Development

Stretch hood film producers have developed a novel process in which the film is transformed into biogas, which is often collected at landfills and converted back into electricity. In addition, they are providing plastomer material alternatives to conventional EVA-based constructions for stretch hood packing. With these stretch hood films, holding power and puncture resistance are improved. As a result, the manufacturers of stretch hood films now have the chance to produce films made of recycled plastic.

Restraints/Challenges

• Hindrances Associated with Plastic

The plastic can harm the environment if it is not disposed of appropriately, being an unfriendly material to the environment. Stretch hood films market expansion will therefore be hampered by a lack of government reforms and plastic recycling technology.

• Availability of Alternatives

Stretch hood films will face competition from traditional packaging alternatives such film wraps, shrink wraps, and containers over the forecast period, which will challenge the stretch hood films market growth rate.

This stretch hood 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 hood 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 Hood Films Market

The recent outbreak of coronavirus had a significant influence on the stretch hood films market. Flexible packaging converters are creating packaging options that can keep up with the delivery of daily essentials in order to prevent the spread of coronavirus. In order to deliver uncontaminated and secure goods to B2B and other consumers, stretch hood film sales for product packaging are anticipated to increase. There were a few difficulties with the stretch film sales during COVID-19. The delivery of raw materials needed for the manufacture of stretch hood films was impeded by a lack of logistics and transportation services. The production of stretch hood films has been constrained by the government's stringent laws. Due to effective planning by manufacturers and higher authorities, stretch hood film production and sales have started to increase and are predicted to reach new heights in 2021–2022.

Global Stretch Hood Films Market Scope

The stretch hood films market is segmented on the basis of material, form, thickness, application and end user. 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

• Polyethylene
• Plastomers
• Elastomers
• Ethylene Vinyl Acetate
• Others

 Thickness

• Up to 50 Microns
• 50-100 Microns
• 100-150 Microns
• 150 Microns and Above

Application

• Ceramic
• Tiles and Bricks
• Cement
• Building Adhesives
• Fertilizers
• Topsoils and Compost
• Pellets
• Fodder
• Wheat and Cereals
• Others

End User

• Pharmaceuticals
• Cosmetics
• Food and Beverage
• Homecare
• Others

Stretch Hood Films Market Regional Analysis/Insights

The stretch hood films market is analyzed and market size insights and trends are provided by country, material, form, thickness, application and end user as referenced above.

The countries covered in the stretch hood films market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the stretch hood films market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rising retail sales and increased use of stretch films within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the burgeoning growth in pharmaceutical industry as well as the rapid urbanization in the region.

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 Hood Films Market Share Analysis

The stretch hood 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 hood films market.

Some of the major players operating in the stretch hood 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 (U.K.)
• 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)