Stretch and Shrink Film Market Size- By Product, By Application, By Material- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Stretch and Shrink Film Market Overview

According to SPER Market Research, the Global Stretch and Shrink Film Market is estimated to reach USD 28.80 billion by 2032 with a CAGR of 5.67%.

A plastic film called stretch and shrink film is used to wrap things. The shrink wrap is put loosely to the product and shrinks tightly when heated, whereas the stretch wrap is flexible. The packaging of various consumer goods, including toys, gifts, and electrical devices, is a common usage for these films. Additionally, they give items and packages more stability when they are combined into a unit load, which aids in the efficient handling of packages and increases their resistance to dust and moisture. The product's shelf life is also increased by it. Because of the requirement to reduce transportation costs and maintain product integrity, the product draws interest from high export economies like China and India. Stretch wrap films are utilised in the consumer goods industry for applications such as form-fill-seal, adhesive labels, sleeves, collation wrap, and pre-made pouches. Over the projection period, a rise in the consumption of fresh meals such cold salads is anticipated to fuel demand for these goods. The beverage industry benefits from sleeve-based stretch packaging solutions since they provide bands for bottles. The product is used in packaging, such as multipacks of beverages and cutting-edge pouches. During the forecast period, extensive non-alcoholic beverage production in North America is anticipated to fuel demand for sleeve labels.

Impact of COVID-19 on the Global Stretch and Shrink Film Market

The COVID-19 pandemic has had a significant impact on the global stretch and shrink film market, with both positive and negative effects. On the one hand, the increased demand for essential goods such as food and medical supplies during the pandemic has led to a surge in demand for packaging materials, including stretch and shrink films. The use of stretch and shrink films in the packaging of e-commerce and home delivery products has also increased significantly as more people have shifted to online shopping due to lockdowns and social distancing measures. This has led to an increase in the sales of stretch and shrink films, particularly in the food and beverage, healthcare, and e-commerce sectors.

On the other hand, the disruption of global supply chains due to the pandemic has led to shortages in raw materials and transportation issues, leading to price hikes and supply chain disruptions. This has affected the production and supply of stretch and shrink films, causing delays and production constraints. Moreover, the slowdown in the manufacturing and construction industries due to lockdowns and restrictions has also affected the demand for stretch and shrink films used in these sectors, leading to a decrease in sales.

Overall, while the pandemic has caused some challenges for the global stretch and shrink film market, the increased demand for essential goods and online shopping has helped to balance out the negative impact. The market is expected to continue to grow in the coming years, driven by the increasing use of these films in the food and beverage, healthcare, and e-commerce sectors.

Scope of the Report

Report Metric Details:

Market size available for years 2019-2032

Base year considered 2021

Forecast period 2022-2032

Segments covered By Product, By Application, By Material

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered Amchor Plc, American Eagle packaging, Barbier Group, Bemis Group, Berry Plastic, Coveris, Dow, Fuji, Intertape Polymer group, Paragon, Vitopel

Global Stretch and Shrink Film Market Segmentation:

By Product: Based on the Product, Global Stretch and Shrink Film Market is segmented as; Hoods, Sleeves and labels, Wraps.

By Application: Based on the Application, Global Stretch and Shrink Film Market is segmented as; Consumer Goods, Food & Beverages, Industrial packaging, Pharmaceutical.

By Material: Based on the Material, Global Stretch and Shrink Film Market is segmented as; LDPE, LLDPE, PVC, Others.

By Region: This report also provide the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America