Global Stretch and Shrink Films Market to Reach $27.7 Billion by 2030
The global market for Stretch and Shrink Films estimated at US$18.1 Billion in the year 2023, is expected to reach US$27.7 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2023-2030. Hoods, one of the segments analyzed in the report, is expected to record a 6.9% CAGR and reach US$14 Billion by the end of the analysis period. Growth in the Sleeves & Labels segment is estimated at 5.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.7 Billion, While China is Forecast to Grow at 9.7% CAGR
The Stretch and Shrink Films market in the U.S. is estimated at US$4.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.6 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4 Billion by the year 2030.
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