Future Market Insights (FMI) predicts a steady growth trajectory for the stretch film market between 2022 and 2030, with a projected compound annual growth rate (CAGR) of 4.7%. By the end of this period, the market is anticipated to reach a value of US$3.7 billion.
One of the key drivers behind this growth is the increasing consumer demand for lightweight and environmentally friendly packaging materials. Stretch films, known for their elasticity and pliability, offer versatility and find applications in various packaging needs. They provide effective packaging solutions by offering high stretchability and the ability to withstand moisture and air.
The demand for stretch films is expected to rise, particularly in the food and beverage industry and the e-commerce sector, where bulk packaging requirements are prevalent. These films offer strong and efficient packaging solutions, making products more appealing in the market. Moreover, the airtight packaging provided by stretch films and their recyclability or burnability after use contribute to heightened awareness of hygiene and environmental concerns.
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It is important to note that the information presented is based on the analysis conducted by Future Market Insights. As an AI language model, I don’t have access to real-time data or the ability to validate specific market predictions. Therefore, for the most accurate and up-to-date information regarding the stretch film market, it is advisable to refer to the latest industry reports and consult experts in the field.
Key Takeaways from the Stretch Films Market Report
- The stretch films market is expected to grow at a CAGR of 4.7% due to increasing demand for safe and efficient packaging
- South Asia is expected to offer lucrative growth opportunities to the market applications of stretch films in the food and beverages industry continue to rise
- Linear low density polyethylene (LLDPE) will remain the preferred polyethylene due to demand for damage resistant packaging during product transportation
- Demand from the food and beverages industry is expected to grow due to increasing use of stretch films for strong and lightweight packaging
Market Growth to Amplify?
“Durable and Tear Resistant Flexible Packaging Formats to rule”
Flexible packaging is widely preferred due to being cost-effective, durable, and lightweight. Flexible packaging occupies smaller spaces during accommodation on shelves. Flexible packaging formats such as stretch films enhance the aesthetic appeal of the product and can augment product branding, added with durable packaging. Thus, an increasing inclination of product manufacturers towards the adoption of flexible packaging solutions over rigid packaging in primary packaging is observed.
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Who Is Winning?
Companies operating in the market are alternatives to increase sustainability. Innovations and advancements by leading players are intended to gain competitive advantage in the market.
Megaplast introduced ‘Fiber Stretch Films’ that contain 30% PCR content that enable recycling and are an eco-friendly choice.
Barbier Group’s Recyplast is integrated using 20% of real post-consumer waste. Their down gauged films display 15% cost reduction.
Competitive Landscape
The key players in stretch films market are onto price discounts and reductions for getting an access to wider customer base. Customization is another strategy on the anvil.
- Transcontinental Inc., post acquisition of Coveris Holdings S.A., has enhanced its product portfolio with respect to the above-mentioned parameters.
Key Players:
- Allen Plastic Industries Co. Ltd
- Vishakha Polyfab
- Four Star Plastics
- Griff Paper and Film
- CS Hyde Company
- International Plastics Inc.
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Key Segments Covered in Stretch Films Industry Research
Stretch Films Market by Material:
- Polyethylene (PE)
- High – DensityPolyethylene (HDPE)
- Low – DensityPolyethylene (LDPE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Others
Stretch Films Market by Manufacturing Process:
- Cast Stretch Film
- Blown Stretch Film
Stretch Films Market by End-use:
- Constructions
- Food and Beverages
- Pharmaceutical
- Consumer Product
- Paper
- Textile
- Chemicals &Fertilizers
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