Stretch Film Market

Stretch Film Market Outlook 2024 to 2034

The global stretch film market is estimated to reach a valuation of USD 2.8 billion in 2024. It is projected to reach a value of USD 4.1 billion by 2034, reflecting a CAGR of 3.9% over the assessment period.

Trends in the Stretch Film Industry

• Improvements in technologically integrated flexible packaging formats over rigid ones are contributing to increased sales of stretch films.
• Expansion of the shipping and logistics sector has raised the importance of proper product packaging to build a positive brand image. Stretch film manufacturers are projected to raise the demand for high-performance flexible packaging in end-use industries like pharmaceuticals, food and beverages, and construction.
• Market players are also emphasizing the integration of innovative features like a superior tears, good clarity for barcoding, excellent load retention, water resistance, and high impact strength.
• The future is sustainable! Stretch film manufacturers are concentrating on the development of bio-based materials to help end users achieve their sustainability goals. The rise in the adoption of bio-plastics and bio-based materials in the packaging industry and their increasing preference among end users has thus spurred the development of sustainable and biodegradable packaging.

Attributes	Key Insights
Estimated Stretch Film Market Size (2024E)	USD 2.8 billion
Projected Market Value (2034F)	USD 4.1 billion
Value-based CAGR (2024 to 2034)	3.9%

Top Impediments for Manufacturers in the Stretch Film Industry

• Surge in the awareness of healthier lifestyles
• Fluctuations in raw material prices

Stretch Film Industry Analysis by Country

Geographically, Canada is projected to move forward at a higher growth rate than the United States. As the United States stretch film market is turning mature, manufacturers are finding opportunities in the thriving Canada market.

In Europe, the United Kingdom is a top market for stretch films, which is anticipated to register a CAGR of 3.80% over the forecast period. This can be attributed to the expanding eCommerce sector, which has further strengthened after COVID-19.

In Asia Pacific, the countries are expected to find significant opportunities in the years to follow. This can be ascribed to the thriving food and beverage sector in these economies.

Countries	Forecast CAGR (2024 to 2034)
Canada	3.70%
The United Kingdom	3.80%
China	5.70%
India	6.40%
Thailand	5.10%

Growth Prospects of Stretch Film Manufacturers in Canada

The consumption of stretch films in Canada is projected to rise at a CAGR of 3.7% over the forecast period. The main factors that are supplementing market growth are:

• Increasing concentration of consumer goods manufacturing players in the country. Stretch films are widely used in applications like beverages, personal care, and household products.
• Rapid surge in eCommerce activities is necessitating damage-free and secure product delivery. The capacity of stretch films to bundle and safeguard items is propelling its use in eCommerce packaging.
• Expansion in shipping and logistics activities is raising the demand for effective and cost-efficient bundling and palletization solutions, which are offered by stretch films.

Multiple End Use Industries in India are Using Stretch Films to Wrap Goods

In India, the purchase rate of stretch films is escalating at a CAGR of 6.4% over the forecast period. Top factors that are contributing to significant revenue generation in India are:

• The flourishing food and beverage industry, due to rising consumption of packaged food and increasing disposable incomes, is raising the demand for stretch films.
• Regulatory support to raise foreign direct investments to multiply the country’s manufacturing output of stretch films is also enhancing the market growth.
• The construction sector in India is experiencing massive growth. Since stretch films are cost-effective, easy to use, lightweight, and versatile, they find significant use in the construction sector for protection and bundling purposes.

Online Purchase of Stretch Films Rising in China

In China, the stretch film industry is anticipated to register a CAGR of 5.7% through 2034. The market is projected to expand at a moderate pace owing to:

• Intense growth in the eCommerce sector has necessitated the use of efficient and secure packaging solutions for delivery.
• Increasing urbanization has catalyzed heightened demand for convenient and packaged food. Stretch films fulfill this demand efficiently by ensuring product freshness and hygiene throughout transportation and storage.
• The cost-effectiveness of stretch films as a packaging solution makes it an attractive option for businesses and manufacturers.
• Key players are investing in the development of eco-friendly stretch films composed of bio-based sources or recycled materials. This shows significant efforts in the direction of sustainability, thus opening up new market opportunities in this area.

Opportunities for Manufacturers of Stretch Films in Thailand

In Thailand, the market is anticipated to register a CAGR of 5.1% over the forecast period. Leading factors that are supporting the market’s growth are:

• Urbanization and busy lifestyles in Thailand are raising the demand for conveniently packaged food and online shopping, increasing sales of stretch films.
• Key players are investing in innovations like improved film strength and pre-stretched films to enhance the desirability of stretch films among end-use industries.
• The government in the market is promoting manufacturing and eCommerce sector, which is indirectly contributing to increased stretch film use.

Market Outlook in the United Kingdom

The United Kingdom stretch film industry is projected to grow at a CAGR of 3.8% through 2034. The main reasons that are backing this growth are:

• Perpetuating takeaway and delivery culture in the country is raising the demand for packaging solutions like stretch films.
• Stretch film manufacturers are developing sustainable stretch film options, which are in tandem with the United Kingdom’s focus on sustainability.
• Regulations mandated on plastic packaging waste are indirectly raising the demand for sustainable and innovative stretch film solutions.

Category-wise Insights

Food and Beverages Segment to Possess a Notable Market Share

Attributes	Details
Top End Use	Food and beverages
Market Share in 2024	26.20%

The food and beverages sector is projected to grab a 26.20% market share in 2024. Top factors that are supporting the segment growth are:

• Growing preference for ready-to-eat, packaged food is raising the use of stretch films that can effectively maintain the product’s freshness, portability, and hygiene.
• Surging online grocery shopping necessitates the use of stretch films that help in secure and damage-free delivery.
• Running trend of delivery and takeaway is amplifying the need for tamper-evident and hygienic packaging afforded by stretch films.

Cast Stretch Film Segment to Procure a Massive Value Share

Attributes	Details
Top Manufacturing Process	Cast Stretch Film
Market Share in 2024	66.10%

The cast stretch film segment is expected to acquire a market share of 66.10% in 2024. Key factors that are contributing to market growth are:

• The cast stretch film manufacturing process uses less energy and complex equipment than blown film.
• Growing demand for visually appealing stretch film is raising the demand for cast stretch film.
• The quiet operation of cast stretch film is an advantage in noise-sensitive environments.

Business Expansion Strategies of Top Players in the Stretch Film Market

The stretch film industry is extremely competitive in nature, with large, medium, and small-sized firms crowding the marketplace. The top stretch film manufacturers are competing not just with other international firms but also with domestic players at the regional level.

Presently, players are investing in research and development activities to offer sustainable packaging film solutions, that are in line with the current market trends.

Players in the market are also offering custom stretch film solutions to end users to increase their annual sales. There have been many developments like new product launches and product innovations by companies operating in the stretch film market to increase their customer base and elevate their market position.

A key strategy adopted by manufacturers is to manufacture the stretch films locally to lower operating costs. Additionally, players are expanding their market footprint by adopting the strategy of acquisitions, mergers, and collaborations with other organizations. Market players are further focusing on offering cost-effective items to sustain themselves in the increasingly competitive stretch film market.

New Developments Impacting the Stretch Film Market

• In March 2023, Antalis introduced blown hand stretch film that contains 30% post-consumer recycled content. The main intent behind this launch is to reduce the customers’ carbon footprint and offer an eco-friendlier wrapping solution. Since this film incorporates recycled content, it is exempted from the plastic packaging tax.
• In August 2023, the nanotechnology firm called Gerdau Graphene, revealed that Packseven, which is one of Brazil’s top flexible film makers had commercialized the first-ever graphene-enhanced stretch film, as per the report released by Terrance Barkan of the Graphene Council.
• In February 2022, Coveris, which is a leading sustainable packaging firm, introduced next-generation stretch films that have at least 30% recycled content. This development helps in reducing dependence on virgin plastics and effectively fulfills the United Kingdom plastic packaging tax requirements.
• Cortec launched Eco Wrap in January 2021. This launch disrupted the industrial packaging and warehouse industries as these industries significantly depend on automated stretch wrapping to develop pallets of goods for inventory, storage, or shipment.

Notable Stretch Film Companies

• Allen Plastic Industries Co. Ltd
• Vishakha Polyfab
• Four Star Plastics
• Griff Paper and Film
• CS Hyde Company
• International Plastics Inc.
• Bagla Group of Companies
• Others

Market Segmentation

By Material:

• Polyethylene (PE)
  • High - Density Polyethylene (HDPE)
  • Low - Density Polyethylene (LDPE)

• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Others

By Manufacturing Process:

• Cast Stretch Film
• Blown Stretch Film

By End Use:

• Constructions
• Food and Beverages
• Pharmaceutical
• Consumer Product
• Paper
• Textile
• Chemicals and Fertilizers

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and the Pacific
• East Asia
• Middle East and Africa

Frequently Asked Questions

How Big is the Stretch Film Market in 2024?

The market is estimated to be valued at USD 2.8 billion in 2024.

At What Rate Will the Stretch Film Industry Grow Through 2034?

The stretch film industry is projected to register a CAGR of 3.9% over the forecast period.

What is the Expected Value of the Stretch Film Industry by 2034?

By 2034, the stretch film industry is forecasted to be worth USD 4.1 billion.

Which Country is Expected to Exhibit Significant Growth in the Stretch Film Industry?

India is expected to observe significant market growth.

Which End-Use Industry is Projected to Capture Significant Market Share?

The food and beverages segment is projected to capture a prominent market share.

Which are the Leading Companies in the Stretch Film Market?

Key players in the stretch film market include CS Hyde Company, Vishakha Polyfab, and Four Star Plastics.