Stretch Packaging Market Trends and Forecast
The future of the global stretch packaging market looks promising with opportunities in the food & beverage, industrial goods, and consumer product markets. The global stretch packaging market is expected to grow with a CAGR of 4.6% from 2024 to 2030. The major drivers for this market are increasing online shopping and rising emphasis on eco-friendly and recyclable packaging materials.
• Lucintel forecasts that linear low density polyethylene is expected to witness the highest growth over the forecast period.
• Within this market, food & beverage is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Berry Global, a leading player in the U.S. stretch packaging market, has been actively investing in sustainable packaging solutions. The company recently announced an expansion of its sustainable product portfolio, focusing on reducing plastic waste and increasing the use of recycled materials in stretch films. Additionally, Amcor has been developing innovative, lightweight, and high-performance stretch films to cater to the growing demand for efficient packaging solutions in various industries, including food and beverages and pharmaceuticals.
India: In India, Unnati Industrial Corporation has been spearheading efforts to enhance the quality and durability of stretch packaging materials. The company has introduced new high-stretch films that improve load stability and reduce packaging costs. The Indian government has also been supportive of sustainable packaging practices, encouraging the use of biodegradable and recyclable materials. This aligns with the broader environmental goals set by the government to reduce plastic waste and promote green packaging solutions.
China: ChinaÄX%$%Xs stretch packaging market has seen significant advancements, particularly in the food and beverage and pharmaceutical sectors. Companies like Sigma Plastics Group have been focusing on expanding their production capacities to meet the rising demand for stretch films. The Chinese governmentÄX%$%Xs initiatives to boost the domestic packaging industry have also played a crucial role. Policies promoting the use of advanced packaging technologies and materials have encouraged companies to invest in new production lines and R&D activities to develop more efficient and sustainable stretch films.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Stretch Packaging by Segment
The study includes a forecast for the global stretch packaging by type, application, and region.
Stretch Packaging Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Linear Low Density Polyethylene
• Low Density Polyethylene
• Poly Vinyl Chloride
• Others
Stretch Packaging Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Food & Beverage
• Industrial Goods
• Consumer Product
• Others
Stretch Packaging Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Stretch Packaging Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies stretch packaging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the stretch packaging companies profiled in this report include-
• Berry Global
• Amcor
• Sigma Plastics
• Aep Industries
• Duo Plast
• Unnati Industrial
• U.S. Packaging & Wrapping
Recent Development in the Stretch Packaging Market
Amcor: Amcor has been focusing on sustainability by developing recyclable and reusable stretch packaging solutions. In recent years, the company introduced the "AmLite Ultra Recyclable" packaging, which is a high-barrier laminate designed for recyclability. This initiative aligns with AmcorÄX%$%Xs commitment to making all its packaging recyclable or reusable by 2025. Additionally, Amcor has invested in advanced material technologies to reduce the carbon footprint of its products, meeting the growing demand for sustainable packaging options.
Sealed Air Corporation: Sealed Air Corporation has been at the forefront of innovation in the stretch packaging market with its development of the "Cryovac" brand of stretch films. These films are designed to offer superior durability and efficiency in packaging. In 2023, Sealed Air launched a new line of ultra-thin, high-strength stretch films aimed at reducing material usage without compromising performance. This move addresses the need for cost-effective and environmentally friendly packaging solutions, helping companies to lower their packaging costs and reduce waste.
Berry Global Group, Inc.: Berry Global Group, Inc. has made significant advancements in the manufacturing technologies for stretch packaging. The company recently announced the expansion of its "Entour" stretch film portfolio, which includes films made with recycled content. Berry Global has also invested in state-of-the-art extrusion technologies to enhance the performance and sustainability of its stretch packaging products. These initiatives are part of Berry GlobalÄX%$%Xs broader strategy to promote circular economy principles and meet increasing consumer demand for sustainable packaging.
AEP Industries Inc.: AEP Industries Inc., a subsidiary of Berry Global, has focused on developing high-performance stretch films that cater to the logistics and transportation sectors. The company introduced a new series of films under the "Performance Plus" brand, designed for superior load containment and reduced film consumption. AEP Industries has also been exploring biodegradable stretch film options, aiming to offer more environmentally friendly solutions to its customers. These developments highlight AEPÄX%$%Xs commitment to innovation and sustainability in the stretch packaging market.
Sigma Plastics Group: Sigma Plastics Group has been expanding its stretch packaging offerings with a focus on customization and customer-specific solutions. The company has introduced a new range of stretch films that can be tailored to specific load requirements and packaging applications. In 2022, Sigma Plastics Group invested in advanced production facilities to increase the efficiency and flexibility of its stretch film manufacturing processes. This investment allows the company to meet the diverse needs of its global customer base while maintaining high standards of quality and sustainability.
Features of the Global Stretch Packaging Market
Market Size Estimates: Stretch packaging market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Stretch packaging market size by type, application, and region in terms of value ($B).
Regional Analysis: Stretch packaging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the stretch packaging market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the stretch packaging market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for stretch packaging market?
Answer: The global stretch packaging market is expected to grow with a CAGR of 4.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the stretch packaging market?
Answer: The major drivers for this market are increasing online shopping and rising emphasis on eco-friendly and recyclable packaging materials.
Q3. What are the major segments for stretch packaging market?
Answer: The future of the stretch packaging market looks promising with opportunities in the food & beverage, industrial goods, and consumer product markets.
Q4. Who are the key stretch packaging market companies?
Answer: Some of the key stretch packaging companies are as follows:
• Berry Global
• Amcor
• Sigma Plastics
• Aep Industries
• Duo Plast
• Unnati Industrial
• U.S. Packaging & Wrapping
Q5. Which stretch packaging market segment will be the largest in future?
Answer: Lucintel forecasts that linear low density polyethylene is expected to witness the highest growth over the forecast period.
Q6. In stretch packaging market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the stretch packaging market by type (linear low density polyethylene, low density polyethylene, poly vinyl chloride, and others), application (food & beverage, industrial goods, consumer product, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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