Stretch and Shrink Films Market Size

Stretch and Shrink Films Market Size

The global stretch and shrink films market size was valued at USD 18.2 billion in 2023 and is estimated to grow at a CAGR of 6.1% from 2024 to 2032. A major factor driving the growth of the market is the increasing need for sustainable packaging.

Companies are increasingly committing to sustainability goals, aiming to reduce their environmental impact. This commitment encourages the use of stretch and shrink films made from recyclable or biodegradable materials, aligning packaging practices with circular economy principles. For instance, in February 2024, Berry Global opened its innovation and training center in Tulsa, focused on developing stretch films that “support a circular economy.” The 12,000-square-foot Circular Innovation and Training Center will focus on product development and training, aiming to foster new stretch film projects that promote material reuse and reduce environmental impact.
 

As consumers become more environmentally conscious, there is a growing preference for products that utilize sustainable packaging. Brands that prioritize eco-friendly stretch and shrink films can enhance their market appeal and meet consumer expectations, driving growth in this segment.