Stretch Films Packs Market

Stretch Films Packs Market Outlook (2023 to 2033)

The global stretch film packs market is projected to secure a CAGR of 3.3% during the forecast period and attain a value of USD 21,820.58 million by 2033. The current valuation of the market stands at USD 15,817.30 million in 2023.

The demand for stretch film packs is witnessing a rise as it is a flexible packaging solution that consists of a corrugated pad and possesses unique properties like being lightweight, easy molding, clarity, and more. However, increasing consumer preference for a healthy lifestyle, as well as, rising raw material prices act as key drawbacks that are likely to impede the global market growth.

The fast-paced lifestyle of consumers is shifting their preference toward ready-to-eat meals, along with canned food products. This is significantly expected to present significant opportunities for the market.

Stretch film packs provide an upper hand by providing premium product presentation, retained strength at freezing temperatures, and preserved package integrity. Moreover, it is identified that the most common application of stretch film packs is to bundle multiple products together and secure them over transportation.

The film stretches around the product giving the required tension to hold the product securely in place. Further, the stretch film packs have barrier properties such as dustproof, weatherproof, and others and are mostly used for unitizing and securing loads.

Attribute	Details
Stretch Films Packs Market Value (2023)	USD 15,817.30 million
Stretch Films Packs Market Anticipated Value (2033)	USD 21,820.58 million
Stretch Films Packs Projected Growth Rate (2023 to 2033)	3.3%

Demand Drivers Bolstering the Stretch Films Packs Market

The growing hypermarket and retail industry coupled with the rising e-commerce industry, with a need for product packaging and safety, are the primary factors contributing to the growth of the stretch films packs market.

Attribute	Details
Growing End-use Market	Increasing demand for bulk packaging requirements and tertiary packaging pallet utilization in warehousing and distribution. Segments remain one of the key drivers in the stretch film packs market.
High Online Purchasing	An increased number of e-commerce platforms are fueling the growth of the stretch film packs market as online purchasing by consumers is being packaged with stretch film packs.
Elimination of Damage	Stretch film packs eliminate the risk of product damage during transportation, and thus the manufacturers have been attracted to this product.
Pharmaceutical Market Expansion	The stretch films packs are highly being used in the distribution and labeling of palatalized pharmaceutical goods and are expected to have a positive impact on the industry.
Reduced Prices	It is anticipated that reduced prices of crude oil in developing economies are expected to increase the momentum of the stretch films packs industry attributed to the cheap availability of raw materials.
Appealing Product Display	Stretch film packs have an excellent appeal for product displays and offer the consumers a convenient packaging solution such as being lightweight, ease of use, and productivity efficiencies.

Key Factors Restraining the Growth of the Stretch Films Packs Market

Although it has been anticipated that a large number of factors are going to influence the market growth of the stretch films packs industry, several factors are likely to curb the growth of the market in the upcoming years.

Attribute	Details
Strict Government Regulations	Severe regulations imposed by the government and the impact of plastic bans could act as a key deterrent for the stretch films packs, as the manufacturers are looking to shift to other biodegradable packaging alternatives.
Availability of Substitutes	Increased use of reusable pallets is observed and this product is trending, which can act as a replacement for stretch films packs and hinder the growth of the global stretch films packs industry.

Revenue Opportunities that Expand the Stretch Films Packs Market

• Replacing traditional packaging materials with stretch films is increasing in adoption, which is likely to present remarkable growth elements for the market share. Furthermore, the presence of several international and domestic manufacturers in the economy is expected to propel the market significantly.
• Owing to their high transparency and superior performance as a food contract material, the demand for LLDPE-based films is anticipated to increase. Moreover, the growing penetration of product-based secondary packaging is significantly contributing to the growth of the market.

Regional Outlook

Overview of North America’s Stretch Films Packs Market

North America is projected to hold a significant share in the global stretch films packs market. Currently, the North America region is accountable for 35% of the total market share of stretch films packs.

The notable growth of this region can be attributed to:

• Rise in the young population and change in consumer buying patterns.
• High adoption is witnessed for modern retailing methods like hyper and supermarkets.
• There is growing bulk consumption of beverages with the growth of large format retail stores.
• Rising disposable income in making the populace attract packages like multipacks.

Europe Market Outlook in the Stretch Films Packs Market

Europe is expected to follow the North American region and is projected to have a substantial growth rate during the forecast period. At present, Europe’s market is holding 21% of the total share of stretch films packs.

Factors affecting the market size expansion in Europe include:

• Robust manufacturing base of confectionaries and carbonated soft drinks in this region.
• Regulatory support aimed at facilitating foreign direct investment at the domestic level.
• Growing food and beverage industry coupled with rising disposable income.
• Use of stretch film packs in secondary products like household, personal care products, and more are likely to boost the demand in Europe’s market.

Start-up Ecosystem

Emerging Anchors Bolstering the Stretch Films Packs Market

The start-up companies in the stretch films packs market are developing advanced products that conform to the mandated standards, thereby driving up the demand for stretch film packs.

Two start-ups to watch out for during the forecast period are:

• Coveris has introduced a range of next-generation stretch films, as a part of its efforts to minimize the use of virgin plastics. This will contain 30% recycled content and might be available in both hand and pre-stretch solutions. They are also claiming it to be the thin stretch film ever designed.
• Kleanpac is producing high-quality stretch film packs with optimal load stability, balanced toughness, and secured loads with easy application are being facilitated.

Some of the other emerging market players operating in the stretch films packs market are Durapac, Pelican Poly, Joinpac, and more.

Competitive Take of Key Market Players in the Stretch Films Packs Market

Recent Developments

Manufacturing companies are moving toward sustainable packaging and are continually indulging themselves in mergers and acquisitions to provide customized products to end-users. Further, there is a rigorous effort being made to gain a better consumer base and enhancement of position in the market by the biggies.

• 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 Market Players in the Stretch Films Packs Market

Berry Global Inc. - They are a Fortune 500 global manufacturer and marketer of plastic packaging products headquartered in Evansville, Indiana. They offer industry-leading material science knowledge and manufacturing capabilities to help customers achieve their business and sustainability goals.

DuPont - They are an American company formed by the merger of Dow Chemical and E. I. du Pont de Nemours and Company, and the world's large chemical company in terms of sales.

Smurfit Kappa Group - They are an FTSE 100 company and one of the leading providers of paper-based packaging in the world, with operations in over 30 countries.

Atlas Container Corporation - They are a manufacturer of high-quality packaging and display products, as well as non-corrugated items to help meet the consumer's packaging requirement.

Other Market Participants Profiled in the Stretch Films Packs Market

• 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 e Landscape

Report Scope

Attribute	Details
Growth Rate	CAGR of 3.3% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type,Application, Product, Industry Vertical, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East and Africa
Key Countries Profiled	The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC, South Africa
Key Companies Profiled	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
Customization	Available Upon Request

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

Frequently Asked Questions

How Big is the Stretch Films Packs Market?

The global stretch film pack market is valued at USD 15,817.30 million in 2023.

Who are the Key Players in the Stretch Films Packs Market?

Intertape Polymer Group, Berry Global Group, and AEP Industries are key market players.

Which is the Key Segment by Product Type?

The key segment by product type is linear low-density polyethylene (LLDPE).

Which is the Go-to-market Strategy for Stretch Film Packs?

Market expansions and product launches are key strategies opted by market players.

Which are the Key Asian Countries in the Stretch Films Packs Market?

The key Asian countries in the stretch film pack market are China, India, and Japan.