Over the forecast period (2020-2027), it is predicted that the market for stretch and shrink film will expand at a strong CAGR.

The factors driving growth of the Stretch and Shrink Film Market includes growing consumption for ready-to-eat food products and frozen meals, rising demand for lightweight material for industrial packaging, launch of superior stretch and shrink films such as linear low-density polyethylene (LLDPE) and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufactures, expansion of the e-commerce industry, increasing popularity of packaged food products, rise in the number of domestic and international manufacturers and rapid urbanization, are some of the additional factors supplementing the Stretch and Shrink Film Market Size. In addition, the increasing investments by major companies on research and development, strategic partnerships between organization and growing population growth rates, are further contributing towards the market growth.

However, growth of the Stretch and Shrink Film Market is hindered due to variations in the prices of raw materials.

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

Based on Resin, the LLDPE segment is predicted to expand at a remarkable CAGR during the forecast period

Increasing use of LLDPE in the packaging of liquid containers, owing to its enhanced shelf-life features, is pushing growth of the segment.

Based on Product, the Hoods segment is projected to capture the largest market share over the forecast period

Stretched hoods are available in different sizes of loads, provides support to goods, and protecting them from all weather conditions, are some of the factors propelling segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

Growing demand for frozen food products across India, China and South Korea, rising adoption of advanced technologies by manufacturers, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Developments

• In 2020, Berry Global Inc, entered into partnership 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, through 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.

Market Segmentation

Segmentation by Resin

• LLDPE

• LDPE

• PVC

• Others

Segmentation by Product

• Hoods

• Sleeves and labels

• Wraps

Segmentation by Application

• Food & beverage

• Industrial packaging

• Consumer goods

• Pharmaceutical

Segmentation by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

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