Stretch Packaging Market Overview
MRFR’s analysis has projected a CAGR of 4.7% in the stretch packaging market over the forecast period of 2017-2023. Stretch packaging is a method wherein stretchable plastic film is wrapped around a load of products that helps hold the load tightly together. This kind of packaging is generally applied for palletizing food items for transportation or storage purpose. They serve as ideal primary packaging solution. Market Research Future (MRFR) has recently published an in-depth report on the global stretch packaging market, covering valuable market insights that have been derived after thorough analysis of the pertinent trends and factors affecting the growth of the market.
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The growth in import export activities among the countries, increases the shipping of products, which drives the growth of the market. Stretch packaging is used to hold the loads and products together on a pallet for the purpose of transportation or storage. This packaging is transparent, which makes it suitable for retail & wholesale display, and ideal for general marketing purposes, due to its clear surface. These factors also impact the growth of the market, positively. However, the availability of cheap alternatives may hamper the growth of the market.
Key Players
- Unnati Industrial Corporation (India)
- DUO PLAST AG (Germany)
- Amcor Ltd (Australia)
- Bemis Company, Inc. (U.S.)
- Berry Global, Inc. (U.S.)
- Grafix Arts (U.S.)
- AEP Industries Inc. (U.S)
- Sigma Plastics Group, Inc. (U.S.)
- U.S. Packaging & Wrapping LLC (U.S.)
Industry Updates
JUne 2019 – Inteplast Group, the largest manufacturer of integrated plastics in North America, announced expansion of its stretch film manufacturing capacity with the addition of two cast film extrusion lines in its newly acquired facility in Remington. The expansion is added 60 million pounds to the company’s current capacity of 385 million pound capacity.
Segmentation
The global stretch packaging market has been segmented based on material and application.
By material, the stretch packaging market has been segmented into Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), and Poly vinyl chloride (PVC). The Low Density Polyethylene segment is leading the market. LDPE is one of the most commonly used packaging material. The LLDPE is anticipated to be record the highest CAGR over the forecast period. On the basis of application, the market is segmented as food & beverages, industrial product, consumer product, and others. Food & Beverages segment dominates the application segment of the market. Increased consumption of food & beverages across the globe, drives the demand of beverages
Regional Analysis
Region-wise, the stretch packaging market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
APAC is likely to command the largest share of the global stretch packaging market over the forecast period. The growth of the market can be attributed to the rising disposable income in the region which has increased the consumption of packaged consumables in the region, thereby fueling the growth of the market. The major packaging players are looking to capitalize on the opportunity offered by the APAC region, Availability of relatively cheap labor, low operating cost, and expanding F&B industry are keys to market growth. Fast-track urbanization in the region has resulted in people leading lifestyles which has increased their reliance on packaged food products which has further generated demand for stretch packaging market.
The markets in North America and Europe are relatively mature and are losing market share to the developing economies. Ecological concern against PVC in Europe and North America has affected the growth of the market. The MEA stretch packaging market is being driven by continued demand from the manufacturing sector as well as growing F&B industry.
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Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Stretch Packaging Market, By Material
4.1 Introduction
4.2 Linear Low Density Polyethylene (LLDPE)
4.3 Low Density Polyethylene (LDPE)
4.4 Poly Vinyl Chloride (PVC)
4.5 Others
Continues……
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