NEW YORK, Jan. 18, 2022 /PRNewswire/ -- 48% of the growth
will originate from APAC for the stretch and shrink
film market. China, India, and Japan are the key markets for stretch and
shrink film in the region. Market growth in APAC will be
faster than the growth of the market in the rest of the
regions. The significant increase in industrialization will
facilitate the stretch and shrink film market growth in
APAC over the forecast period. Technavio has been
monitoring the stretch and shrink film market and it is set to grow
by USD 4.28 billion from
2020 to 2025. The report projects the market to progress at a
CAGR of 5.50%.
For more insights on the market share of various
regions - Request a Free Sample Report
Stretch and Shrink Film Market: High elasticity and
stretchable properties to drive growth
The high elasticity
and stretchable properties are some of the key drivers for the
stretch and shrink film market share growth. Stretch films are
specially prepared to easily stretch and wrap around objects
(depending on the type of the film) to protect them from
damage or loss. These films protect the objects from load tampering
and also reduce packaging and transportation costs to a great
extend. Moreover, these stretch films have a smooth surface for
placing shipping labels, documents, and other information and
protecting the surrounding boxes from damages & losses.
Whereas, shrink films are used to wrap large objects in various
sizes and shapes. Moreover, these films are thicker than the
stretch films and have high transparency and strength, and are
widely used by global manufacturing industries. Therefore, both the
stretch and shrink films are highly elastic and durable in their
own uniqueness and these factors are estimated to drive the stretch
and shrink film market during the forecast period.
To know about drivers, trends & challenges
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Stretch And Shrink Film Market: Segmentation
Analysis
This market research report segments
the stretch and shrink film market by
Application (Food and beverages, Industrial/bulk, Consumer
goods, and Others), Type (Stretch film and Shrink film), and
Geography (APAC, North
America, Europe,
South America, and MEA).
The stretch and shrink film market share growth by the food
and beverages segment will be significant for revenue
generation. Due to their high strength and durability, these
films are used in fresh food and beverages packagings such as dairy
products, poultry, seafood and meat, fruits, and vegetables.
Additionally, these films are also used to wrap baked products as
they are moisture-resistant and are also suitable for packaging
heavy loads. Also, these films offer a clear display of the
food products through their packaging solutions. Thus, the stretch
and shrink film market growth is expected to boost especially
through its food and beverages segment during the forecast
period.
To gain further insights on the market
contribution of various segments -Download a Free sample
report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Stretch And Shrink
Film Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum &
CAGR
|
Accelerate at a CAGR
of 5.50%
|
Market growth
2021-2025
|
USD 4.28
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
4.10
|
Regional
analysis
|
APAC, North America,
Europe, South America, and MEA
|
Performing market
contribution
|
APAC at
48%
|
Key consumer
countries
|
China, US, India,
Germany, and Japan
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
Allied Propack Pvt.
Ltd., Anchor Packaging LLC, Berry Global Group Inc., C.I. TAKIRON
Corp., Coveris Management GmbH, Dow Inc., DuPont de Nemours Inc.,
Groupe Barbier, Hipac Packaging Solutions, and Inteplast
Group
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period,
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
About Technavio
Technavio is a leading global
technology research and advisory company. Their research and
analysis focuses on emerging market trends and provide actionable
insights to help businesses identify market opportunities and
develop effective strategies to optimize their market
positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio