Stretch And Shrink Film Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2019 to 2025.
Market Outline: Stretch and Shrink Film Market
Among the specialized plastic packaging systems, shrink packaging or commonly known as shrink wrapping and stretch wrapping are very common and widely used. Though there are some apparent similarities in the two systems, in overall analysis, they are considered to be totally different in terms of material and operation. In the case of shrink wrapping, shrink film is used as the basic material and heat forms an important part of the operation, whereas, in the case of stretch wrapping, stretch film is used as the basic material and no heat is applied during the operation. Shrink Wrapping is done in 3 or 4 stages, such as wrapping (sleeve wrapping or over-wrapping), sealing (necessary only for over-wrapping), shrinking (with application of hot air), and cooling. Stretch wrapping is done only in two stages, namely, wrapping and sealing (most of the time even without a sealer). However, in many packaging applications, both the systems are considered as alternative to each other. These systems are mainly used for unitization, but sometime they are also being used as primary packaging system. Both the systems are used for bulk packaging as well as retail packaging. In fact, both the systems are now being used for some major applications like sleeving for labelling on various containers or sealing, besides wrapping.
Market Dynamics: Stretch and Shrink Film Market
Increase in population, technological advancements, rising demand for packaged food products has expected to drive the market in the near future. In addition, high product demand food items, including fruits, vegetables, is expected to drive the market growth over the forecast period. The market is expected to witness significant growth owing to growing technological innovations with respect to stretch films. 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.
Market Scope: Stretch and Shrink Film Market
Stretch and shrink film market is segmented based on product type, application, and end user
Based on resin, market is segmented into the following:
Based on the application, market is segmented into the following:
- Food & beverage
- Industrial packaging
- Consumer goods
Based on the product type, the market is segmented into the following:
- Sleeves and labels
Regional Analysis: Stretch and Shrink Film Market
Geographically, stretch and shrink film market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Stretch and Shrink Film arket has lucrative growth attributed to the presence of a number of consumer goods manufacturing companies such as Groupo Bimbo in Mexico and Canada is expected to result in a high demand for the product. The use of the product for secondary packaging of products including, beverages, household, and personal care products is expected to drive the industry growth. Europe Stretch and Shrink Film Market is expected to register a limited growth on account of the prevalence of regulations regarding the use of plastics for food contact applications. Manufacturers in the region develop advanced products that conform to the mandated standards, thereby driving up the product prices in the region. Asia Pacific Stretch and Shrink Film Market hold the maximum share XX% of global stretch films market revenue share in 2015. The region is expected to dominate due to growing food & beverage particularly in China and India. Increasing demand for packaged food coupled with growing disposable income of consumers is expected to propel demand for flexible packaging over the forecast period.
Competition Assessment: Stretch and Shrink Film Market
Some of the players in the stretch and shrink film market include:
- Anchor Packaging
- Berry Plastics
- AEP Industries Inc.
- Bemis Company Inc.
- Dow Chemical Company
- I. du Pont de Nemours and Co (DuPont)
- FUJI Seal International Inc.
- Intertape Polymer Group Inc.
Notable Market Developments: Stretch and Shrink Film Market
- 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.