Stretch Films Market Report 2024 (Global Edition)

Global Stretch Films Market Report 2024 Market Size Split by Type (Hand Stretch Film, Machine Stretch Film, Specialty Stretch Film), by Application (Meat, Poultry and Seafood, Dairy, Fresh Produce, Ot...

Stretch Films Market Report Description

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Stretch Films Market Insights Video

Competitive Landscape of the Stretch Films Market

In the stretch film industry, competition is strong due to the presence of both major and small businesses. There are many specialized vendors in the industry that focus on providing individualized services to consumers. There have been many changes, such as product improvements and new product launches, made by manufacturers in the stretch and shrink film market area to attract more customers and strengthen their positions in the industry. For companies in this industry to grow and succeed in the face of escalating competition, businesses in this sector must provide low-priced products and services.

Stretch Films Industry News

• In October 2023: At Cosmoprof Worldwide, UFlex Ltd., the largest global flexible packaging and solutions provider in India, will display customized packaging solutions and tubes with innovative and sustainable packaging structures for companies in the beauty and cosmetics industry.
• April 2022: Innovia Films, a British BOPP filmmaker, is putting money into a new coating technique so that they may introduce a new range of PVC-free films to the graphics sector. The new line has been improved to apply specialty coatings to BOPP substrates, such as those used by Innovia.

Top Companies Market Share in Stretch Films Industry: (In no particular order of Rank)

• Eltech K-Laser s.r.l. (Taiwan
• Kurz (Germany)
• Unifoil (U.S.)
• Light Logics Holography and Optics (India)
• Lasersec Technologies Pvt. Ltd. (India)
• Uflex Limited (India)
• Polinas (Turkey)
• Spectratek (U.S.)
• API Group(UK)
• Integraf LLC (U.S.)
• Everest Holovisions Limited (India)
• Holostik (India)
• Kama Holdings Limited (India)
• Offset Group (Bulgaria)
• Zhejiang Jinghua Laser (China)
• SVG Optronics Co. Ltd. (China)
• Shantou Wanshun (China)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

The Asia-Pacific Stretch Films Market accounts for the largest share of the Global Market

According to Cognitive Market Research, Asia-Pacific dominated the market in 2023 and is predicted to show the fastest CAGR of 5.00% because of increasing demand for food and drink, especially in emerging markets like China and India. During the projected period, demand for flexible packaging is expected to be driven by the rising demand for packaged food, and the rising disposable income of consumers is also expected to boost product demand throughout the projected period.

The North American region accounted for the market's fastest share because the market for stretch films for packaging is expected to grow in this region as a result of expanding retail sales and greater usage of stretch films by the region's industries, as well as the prevalence of legislation limiting the use of polymers in applications involving food contact and increasing demand for storage and transportation space for building materials is driving the market growth in North America is anticipated to fuel industry expansion in the region.

The current report Scope analyzes Stretch Films Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Stretch Films Market

North America Stretch Films Market Analysis:

According to Cognitive Market Research, North America ranks second in size. The compound annual growth rate forecast is 4.00% because the rising popularity of online shopping and the resulting increase in e-commerce have both had a major impact on the need for stretch films in North America, contributing to the continued growth and development of the stretch films business during the forecast period. Moreover, in the North American area, hand stretch films are presumed to have the fastest growth in the coming years because hand stretch films are thinner and less dense than conventional stretch wrap. They allow for lighter packages without sacrificing the same amount of protection, which is anticipated to develop fastest throughout the forecast period. In conclusion, According to Cognitive Market Research, an explosion in manufacturing and the dominance of dominant market players have helped propel the region to the forefront of the global Stretch Films industry demand during this region's forecast period.

Europe Stretch Films Market

Europe Stretch Films Market Analysis:

According to Cognitive Market Research, in 2023, Europe accounted for more than 0.81 of the global revenue because the increasing urbanization, technological advancements, and monetary investment in the packaging sector are responsible for advancements in the production of stretch film in this region. In addition, the wrap sector is predicted to expand rapidly in the European market in the following years because it helps build a barrier that keeps out dust, moisture, and temperature fluctuations to protect food and beverages from spoilage during transport or storage. When placed on pallets, stretch films help stabilize loads, limit shifting, and protect cargo from dust, moisture, and damage. In conclusion, the stretch films market in the European region with developing countries such as Germany, France, Italy, Spain, Russia, and the Rest of the European countries will witness healthy growth during the forecast period.

Asia Pacific Stretch Films Market

Asia Pacific Stretch Films Market Analysis:

According to Cognitive Market Research, Asia Pacific dominated the market in 2023. The market in Asia Pacific is expected to increase at a CAGR of 6.5% over the next several years. This can be attributed to several factors, such as fast technological development and innovation in stretch films and quick industrialization, especially in China, India, and Southeast Asia. Manufacturing, logistics, and e-commerce are just a few of the sectors that have seen significant increases in their use of stretch films due to the rising demand for effective and dependable packaging solutions brought on by the expansion of these industries. Moreover, in the Asia-Pacific region, the polyethylene category is presumed to witness the most significant growth in the coming years due to its high recyclability. Polyethylene has contributed to the environmentally friendly growth of the packaging industry. In conclusion, increasing personal disposable income in China, India, and other South Asian nations has stimulated the demand for electric-powered stretch films in the Asia-Pacific region, which fuels the industry's growth during the forecast period.

South America Stretch Films Market

South America Stretch Films Market Analysis:

According to Cognitive Market Research, Latin America dominated the market in 2023. Stretch film sales in Latin America are anticipated to rise gradually, with a CAGR of 4.8% over the coming years, because innovations in technology and Eco-friendly stretch films are rapidly growing in popularity as manufacturers explore more eco-friendly packaging options to satisfy customer demands and government laws in this region. Furthermore, the Latin American market in the polypropylene category is expected to increase in the following years due to their widespread use and low production costs; polypropylene stretch films are a cost-effective and efficient packaging option for businesses. Overall, the expanding economies of Latin America and the fast technological and industrialization of stretch films are advantageous since they create more job openings, which bodes well for the region's economic growth in the next years.

Middle East and Africa Stretch Films Market

Middle East and Africa Stretch Films Market Analysis:

According to Cognitive Market Research, the Middle East and Africa dominated the market in 2023. They accounted for a rising CAGR of 4.9% due to Increasing demand for stretch films, which can be attributed to some factors, including the region's growing industrial and manufacturing sectors, the rise of online retail, the importance placed on exporting agricultural products, the popularity of sustainable packaging solutions, and the development of cutting-edge packaging technologies. Moreover, cast stretch films in the stretch films category will expand in the coming years because they are designed to unfold quietly, minimizing wrapping-related noise. The adaptability of these films makes them perfect for usage in the food & beverage, retail, manufacturing, and transportation sectors. In conclusion, According to Cognitive Market Research, the increasing access to advanced technology in the area suggests a need for innovation. The number of factories producing stretch film tools in the MENA region is expected to expand rapidly during the next few years.

Stretch Films Market Analysis

Stretch Films Type Segment Analysis

According to Cognitive Market Research, hand stretch film is the most popular stretch film market offering because of its comfortable form. Hand stretch films require no additional tools for application. The ease and speed with which they can be applied by hand make them ideal for a wide range of packaging applications. Since no special gear or equipment is required to use hand stretch films, they are a cheap packaging option. It helps drive up customer demand worldwide during the forecast period.

The specialty stretch film are the second-most popular type because they are ideal for the safe and secure shipping and storing of a wide variety of products because they can be tailored to fit the unique packaging needs of a wide variety of industries is expected to increase due to the rising facilities during the predicted period.

• Hand Stretch Film
• Machine Stretch Film
• Specialty Stretch Film

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Stretch Films Industry. Request a Free Sample PDF!

Stretch Films Application Segment Analysis

According to Cognitive Market Research, foods & beverages are the most extensively used application stretch films because they provide a hygienic seal that removes dirt, dust, and other contaminants while protecting perishable goods in storage and transit. It raises the global demand for stretch films over the forecast period.

The dairy is the second most popular application in stretch films because it helps preserve the quality of dairy products and ensure their timely delivery to customers.

• Meat
• Poultry and Seafood
• Dairy
• Fresh Produce
• Other Foods
• Beverages
• Electronics
• Paper and Textile Products
• Consumer Products
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Stretch Films Material Type Segment Analysis

Market share is expected to be highest in the cast stretch film sector because cast stretch films are made to unwind silently, reducing the amount of noise made during the wrapping process. These versatile films make them ideal for the food and drink, sales, manufacturing, and transportation industries. It is expected to boost development in the market sector.

According to Cognitive Market Research, this blown stretch film is the most common type of stretch film because of its increased thickness and strength. Blown stretch films last longer and are less likely to tear than other stretch films, increasing global demand for stretch films over the forecast period.

• Polyethylene
• Polypropylene
• Polyvinyl Chloride

Stretch Films Product Type Segment Analysis

According to Cognitive Market Research, the wrap sector is anticipated to account for most of the market because it helps form a barrier that prevents dirt, moisture, and temperature changes from having an impact on perishable food and drink while in transit or storage and stretch, films assist stabilize loads, stop shifting, and shield goods from dust, moisture, and damage when applied to pallets, which is expected to boost development in the market segment.

The hoods stretch films product type are the most widely used product in stretch films because hoods are an efficient and cost-effective method of protecting palletized products from damage during shipping and grow the demand for stretch films during the forecast periods.

• Wrap
• Hoods
• Stretch Labels
• Sleeves

Stretch Films Manufacturing Type Segment Analysis

Market share is expected to be highest in the cast stretch film sector because cast stretch films are made to unwind silently, reducing the amount of noise made during the wrapping process. These versatile films make them ideal for the food and drink, sales, manufacturing, and transportation industries. It is expected to boost development in the market sector.

According to Cognitive Market Research, this blown stretch film is the most common type of stretch film because of its increased thickness and strength. Blown stretch films last longer and are less likely to tear than other stretch films, increasing global demand for stretch films over the forecast period.

• Cast Stretch Film
• Blown Stretch Film

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion