Stretch and Shrink Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Shrink film is a versatile polymer material used for the packaging of finished goods to protect and secure products for the retail and shipping environment. A rise in the industrial sector is one of the key factors that is contributing to the growing demand for the stretch and shrink film market. As per the World Bank, the industrial sector’s value-added as a % of GDP reached 27.88% in 2020 up from 25.95% in 2016. Furthermore, emerging demand for processed and packaged food, ready-to-eat food owing to the busy and hectic life schedule, and emerging working couples, globally is contributing to the growth of the market. As per Office for National Statistics (ONS),  the number of mothers in the labor market had grown substantially over the last two decades, globally. Moreover, in the United Kingdom around 66.2% of mothers were in employment in 2000, which rose to 75.1% by 2019. Also, as per Deloitte, 28% of consumers will switch to a frozen or processed alternative when faced with a stockout of the fresh item they intended to purchase.

A continuous rise in the launch of new medicines globally is leading to the growing demand for stretch and shrink films globally. Globally. As per the International Federation of Pharmaceutical Manufacturers & Associations In 2018, 59 new medicines were launched, while currently, more than 8,000 compounds are at different stages of development. Moreover, the research-based biopharmaceutical industry is estimated to have spent USD 179 billion globally on biopharmaceutical R&D in 2018.

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According to UnivDatos Market Insights (UMI)’ research report “Global Stretch and Shrink Market Analysis, 2020”, the growing demand for organic food products globally is emerging as one of the growth catalyst o the stretch and shrink film market. In 2018, India was the leading organic food-producing country in the world, measured by the number of producers. In that year, India had 1.1 million organic food producers, which is more than the number of all organic food producers in the other nine leading countries in the world combined. Organic produce contains fewer pesticides and is often fresher because it doesn’t contain preservatives that make it last longer. In addition to providing many of the nutrients contained in fresh fruit and veggies, juice may also improve sleep quality, mood, brain function, immune health, and heart health. According to a study in 20 healthy adults, the phenolic compounds provided in 230 ml of purple grape juice may improve mood and brain function.

Based on the Type, the shrink film segment acquired the major market share and dominated the global Stretch and Shrink Market in 2020. The growing beverage industry globally is one of the prominent reasons that is driving the demand for shrink films. More than 50 beverage manufacturers have made a shift from traditional corrugated boxes to multilayer shrink film packaging. Shrink film serves the same purpose of holding several product packs or bottles together and one of the primary reasons for this move is the considerable cost advantage as shrink film costs 1/3 that of corrugated boxes and the aesthetic appeal of transparent packaging.

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Based on the resin, The LLDPE segment grabbed the X% major market share and dominated the market in 2020. These are the most flexible of the plastic sheeting film. Proliferating e-commerce sector is one of the leading factors that is contributing to the growth of this segment. Moreover, rising consumer health consciousness and the move toward smaller packing sizes on account of rising nuclear households in developed economies are anticipated to fuel the growth of the segment in the upcoming years.

Asia-Pacific to Grab Lion’s Share, But Europe to witness Explicit Growth

Based on the Region, the Asia-Pacific region dominated the global Stretch and Shrink market in 2020., stated in UnivDatos Market Insights (UMI)’ research report “Global Stretch and Shrink Market Analysis, 2020”. The surging consumption of processed and packaged food in the region owing to the growing adoption of western culture is leading to the growing demand for stretch and shrink films. However, Europe would witness a considerable CAGR in the forthcoming years as well. 

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Stretch and Shrink Market are AEP Industries Inc., Bemis Company Inc., Berry Plastics Corporation, Sigma Plastics Group, Bollore Inc., American Eagle Packaging, Flex Sol Packaging Corp., Barbier Group, Dow Chemical, etc, The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

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“Global Stretch and Shrink Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Stretch and Shrink Market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

 Market Segmentation:

1. By Type (Stretch Film, Shrink Film)
2. By Resin (PP, LLDPE, LDPE, PVC, Others)
3. By Application (Food & Beverage, Consumer Goods, Pharmaceutical, Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (AEP Industries Inc., Bemis Company Inc., Berry Plastics Corporation, Sigma Plastics Group, Bollore Inc., American Eagle Packaging, Flex Sol Packaging Corp., Barbier Group, Dow Chemical)

Key questions answered in the study:

1. What are the current and future trends of the global Stretch and Shrink market industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Stretch and Shrink market industry?
5. What are the customer orientation, purchase behavior, and expectations from the Stretch and Shrink market firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL STRETCH AND SHRINK FILM MARKET COVID-19 IMPACT

6 GLOBAL STRETCH AND SHRINK FILM MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY RESIN

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY REGION

11 STRETCH AND SHRINK FILM MARKET DYNAMICS

12 STRETCH AND SHRINK FILM MARKET OPPORTUNITIES

13 STRETCH AND SHRINK FILM MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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