Stretch and Shrink Film Market Size, Share, Growth, Trends, and Global Industry Analysis: By Resin (LLDPE, LDPE, PVC, and Others), By Application (Food & beverage,  Industrial packaging, Consumer goods, Pharmaceutical), By Product Type (Hoods, Sleeves and labels, Wraps), and Region.

Stretch and Shrink Film Market size was estimated at US$ 13.17 Bn in 2021, growing at a CAGR of 5.9% during the forecast period 2022-2028. This market report gives a comprehensive outlook on Stretch and Shrink Film market across the regions like North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global Stretch and Shrink Film market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies global Stretch and Shrink Film market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. Global Stretch and Shrink Film market report include competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Stretch and Shrink Film market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global Stretch and Shrink Film market report include suppliers, manufacturers, marketers, policy makers, and recent market activities. The market is expected to witness significant growth owing to growing technological innovations with respect to stretch films. The raw material prices exhibit a high degree of volatility owing to fluctuating crude oil prices which further imparts a degree of uncertainty in the price of shrink films. The demand for polyethylene-based plastic films is expected to register growth owing to increasing rejection of polyvinyl stannic chloride films. The economy is one of the major manufacturers of processed food which finds high use of stretch films in both primary and secondary packaging.   The demand for LLDPE based films in food processing industry is expected to grow on account of high transparency coupled with superior performance as a food contact material. Growing demand for the product due to burgeoning food processing industry has led to an increase in the consumption of the product. In addition, high product demand food items, including fruits, vegetables, is expected to drive the market growth over the forecast period. However, the use of alternative packaging material and high degree of volatility owing to fluctuating crude oil prices which further imparts a degree of uncertainty in the price of shrink films can restraint the growth of stretch and shrink film market during the forecast period. Companies are investing heavily and are entering into mergers and acquisitions to tap the stretch and shrink market potential globally. For instance, in June. 2, 2014-- Berry Plastics Group, Inc. (NYSE:BERY) announced that it has completed the previously announced acquisition of Rexam’s Healthcare Containers and Closures (C&C) business. The presence of many multinational, regional, and local vendors in this market results in intense competition during the forecast period. In this market, the local players offer innovative solutions at a price lower than the international players, which leads to price wars among the vendors. The international players in this market are expected to exhibit inorganic growth during the forecast period as their growth is heavily dependent on the acquisition of local players.