The global stretch film packs market is forecasted to grow at a 3.3% CAGR, reaching a market value of USD 21,820.58 million by 2033, up from its current valuation of USD 15,817.30 million in 2023, according to industry analysis. This growth is largely attributed to the increasing popularity of stretch film packs as a flexible packaging solution known for its unique advantages, including lightweight properties, ease of molding, and clarity.
While demand remains strong, the market faces challenges due to increasing consumer preferences for health-conscious lifestyles and rising raw material costs. These factors may limit growth; however, the industry is exploring innovative solutions to address these hurdles.
Driven by changing lifestyles and the shift toward ready-to-eat and canned food products, the stretch film packs market is set to see new opportunities. With fast-paced consumer habits favoring convenience, stretch film packs are becoming indispensable in bundling multiple products and providing secure transportation.
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Key benefits of stretch film packs include enhanced product presentation, maintained strength even at low temperatures, and protection of packaging integrity. The market recognizes that the primary application of these packs is for unitizing and securing loads during transit, with barrier properties such as dustproof and weatherproof characteristics further bolstering their appeal.
Top Highlights from the FMI’s Analysis of the Stretch Films Packs Market:
- Presently, North America holds dominance in the stretch films industry, with a market share of 35%.
- The United States is expected to hold a massive share of the market in the forthcoming years.
- Europe is the second leading country, recording a share of 21% in the global market.
- Asia Pacific is predicted to expand at a vigorous rate in the next ten years.
Prominent Drivers of the Stretch Films Packs Market
- Growing E-commerce Industry: The rapid growth of online retail has led to increased demand for efficient and secure packaging solutions like stretch films, essential for protecting products during transit.
- Rising Demand for Food Packaging: Stretch films are widely used in the food and beverage industry to maintain freshness and prevent contamination, driving their demand as more packaged food options hit the market.
- Industrial and Logistics Growth: Stretch films are essential for securing pallet loads in transportation and storage, making them critical for industries experiencing growth in logistics and distribution.
- Focus on Sustainable Packaging: Eco-friendly stretch films made from recyclable and biodegradable materials are increasingly preferred by companies focused on reducing environmental impact, spurring demand in this market.
- Increased Adoption of Automation: With the rise in automated packaging solutions, stretch films designed for machine use are gaining popularity, driving the market as industries prioritize efficiency and productivity.
Key Players
- Berry Global Inc.
- DuPont
- Smurfit Kappa Group
- Atlas Container Corporation
- Eltech K-Laser s.r.l.
- Kurz
- Unifoil
- Light Logics Holography & Optics
- Lasersec Technologies Pvt. Ltd.
- Uflex Limited
- Polinas
- Spectratek
- API Group
- Integraf LLC
- Everest Holovisions Limited
- Holostik
- Kama Holdings Limited
- Offset Group
- Zhejiang Jinghua Laser
- SVG Optronics Co. Ltd.
- Shantou Wanshun
Recent Developments
- In January 2021, Cortec introduced Eco Wrap, one of the world’s first compostable, machine-grade stretch films. The new product represents a revolution for the industrial packaging and warehouse industries, which heavily rely on automated stretch wrapping to prepare pallets of goods for storage, inventory, or shipment.
- The introduction of highly advanced packaging film by SABIC manufactured through a multilayer and polymer blend technology offers increased load stability for the packaging of food products thus positively contributing to the growth of the market.
Key Segments in the Stretch Films Packs Market
By Type:
- LLDPE
- LDPE
- PVC
- Others
By Product:
- Hoods
- Sleeves and Labels
- Wraps
By Application:
- Wine Packaging
- Crockery Packaging
- Glassware Packaging
By Industry:
- Food & Beverage
- Consumer Goods
- Pharmaceutical
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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