Stretch and Shrink Film Market: Current Analysis and Forecast (2021-2027)

Stretch and Shrink Film Market: Current Analysis and Forecast (2021-2027)

The Global Stretch and Shrink Film is Expected to Display an Elevated CAGR of ~5% over the forecast period (2021-2027)

The rise in disposable income, surging industrial sector and rapid urbanization sector globally has resulted in more inclination towards spending more on food and beverages, smart products., which is supporting the growth of the mart products including Stretch and Shrink Films. As per OCED, the household disposable income across several countries such as Australia, Austria, Canada, France, and many others witnessed a significant rise during 2018-2019. In Canada, the gross adjusted household disposable income per capita was USD 39,005.5 in 2020, up from USD 35,892.5 in 2019.

The rising replacement of conventional packaging materials with stretch and shrink films can be attributed to the growth of the market. Also, an increase in alcohol consumption contributed to the growth of the market during the historic period. Globally, there has been an increase in alcohol consumption during the historic period. Global beer consumption stood at approximately 188.79 million kiloliters in 2018, up 0.8% from 2017 the first time in four years. Europe is the leading region in terms of beer consumption per capita. The Czech Republic, with 143.3 liters consumed per capita. Beer in the Czech Republic is cheaper than bottled water (typically USD 1 for a half-liter of beer)

Furthermore, the demand for bottled water is also escalating owing to the easy availability of the product and a surge in tourism. For instance, in 2019, 14.4 gallons of bottled water were consumed by Americans, 3.6% up from 2018. Also, the retail dollar sales of bottled water grew in 2019 by 5.2% to and reached $34.6 billion

AEP Industries Inc., Bemis Company Inc., Berry Plastics Corporation, Sigma Plastics Group, Bollore Inc., ExxonMobil Chemical, American Eagle Packaging, Flex Sol Packaging Corp., Barbier Group, Dow Chemical, etc., are some of the prominent players operating in the Stretch and Shrink Film market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst type, shrink film segment holds the major share”

Based on type, the market is fragmented into Stretch Film and Shrink Film. The shrink film segment grabbed the major market share in 2020 and dominated the market. With the growing demand for making the packaging of the product more appealing and classier, the demand for shrink film is on the rise. Shrink film is also used to package your products for display on store shelves while giving them a glossy sheen. Also, the availability of biodegradable shrink film is adding pace to the growth of the market.

“Amongst resin, LDPE segment to grab considerable market share”

Based on the resin, the market is fragmented into PP, LLDPE, LDPE, PVC, and Others. The LDPE segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The factors such as the availability of LDPE films in a variety of gauges and sizes, protecting and showcasing the product on shelves are leading to the greater adoption of these films. contributes toward the increased product application.

“Amongst application, food & beverage segment to grab major market share”

Based on the application, the market is fragmented into Food & Beverage, Consumer Goods, Pharmaceutical and Others. The food and beverage segment grabbed XX% market share and captured USD XX Mn market in 2020. However, the consumer goods segment would witness the robust CAGR during the forthcoming years

“Asia-Pacific represents one of the largest markets of Stretch and Shrink Film market”

For a better understanding of the market dynamics of the Stretch and Shrink Film market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific region dominated the market and generated the leading revenue share in 2020 owing to rising disposable income and emerging demand for stretch and shrink films from the pharma sector.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry