Get a free sample of Stretch and Shrink Films Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of Stretch and Shrink Films Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
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.
Who are some of the prominent players in the stretch and shrink films industry?
Key players in the industry include A-Z Packaging, Amcor, Balcan Innovations, Berry Global, Bollore, Coveris Holdings, Dow, Filmsource Packaging, HIPAC, and Intertape Polymer Group.
How much of the stretch and shrink films market does North America hold?
North America accounted for over 30% of the market in 2023, with the U.S. market experiencing significant growth due to a robust e-commerce sector, increasing demand for sustainable packaging solutions, and advancements in film technology.
What is the expected value of the polyethylene segment in the stretch and shrink films industry?
The polyethylene (PE) segment is anticipated to surpass USD 9 billion by 2032 due to its versatile properties, cost-effectiveness, and widespread applications.
How big is the stretch and shrink films market?
The global stretch and shrink films industry was valued at USD 18.2 billion in 2023 and is estimated to grow at a 6.1% CAGR from 2024 to 2032, driven by the increasing need for sustainable packaging.