Stretch and Shrink Film Market: Current Analysis and Forecast (2021-2027)

Report Description

The Global Stretch and Shrink Film is Expected to Display an Elevated CAGR of ~5% over the forecast period (2021-2027)

The rise in disposable income, surging industrial sector and rapid urbanization sector globally has resulted in more inclination towards spending more on food and beverages, smart products., which is supporting the growth of the mart products including Stretch and Shrink Films. As per OCED, the household disposable income across several countries such as Australia, Austria, Canada, France, and many others witnessed a significant rise during 2018-2019. In Canada, the gross adjusted household disposable income per capita was USD 39,005.5 in 2020, up from USD 35,892.5 in 2019.

The rising replacement of conventional packaging materials with stretch and shrink films can be attributed to the growth of the market. Also, an increase in alcohol consumption contributed to the growth of the market during the historic period. Globally, there has been an increase in alcohol consumption during the historic period. Global beer consumption stood at approximately 188.79 million kiloliters in 2018, up 0.8% from 2017 the first time in four years. Europe is the leading region in terms of beer consumption per capita. The Czech Republic, with 143.3 liters consumed per capita. Beer in the Czech Republic is cheaper than bottled water (typically USD 1 for a half-liter of beer)

Furthermore, the demand for bottled water is also escalating owing to the easy availability of the product and a surge in tourism. For instance, in 2019, 14.4 gallons of bottled water were consumed by Americans, 3.6% up from 2018. Also, the retail dollar sales of bottled water grew in 2019 by 5.2% to and reached $34.6 billion

Household Disposable Income Net, Annual Growth Rate (%), By Selected Countries, 2017 – 2019

AEP Industries Inc., Bemis Company Inc., Berry Plastics Corporation, Sigma Plastics Group, Bollore Inc., ExxonMobil Chemical, American Eagle Packaging, Flex Sol Packaging Corp., Barbier Group, Dow Chemical, etc., are some of the prominent players operating in the Stretch and Shrink Film market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst type, shrink film segment holds the major share”

Based on type, the market is fragmented into Stretch Film and Shrink Film. The shrink film segment grabbed the major market share in 2020 and dominated the market. With the growing demand for making the packaging of the product more appealing and classier, the demand for shrink film is on the rise. Shrink film is also used to package your products for display on store shelves while giving them a glossy sheen. Also, the availability of biodegradable shrink film is adding pace to the growth of the market.

“Amongst resin, LDPE segment to grab considerable market share”

Based on the resin, the market is fragmented into PP, LLDPE, LDPE, PVC, and Others. The LDPE segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The factors such as the availability of LDPE films in a variety of gauges and sizes, protecting and showcasing the product on shelves are leading to the greater adoption of these films.  contributes toward the increased product application.

“Amongst application, food & beverage segment to grab major market share”

Based on the application, the market is fragmented into Food & Beverage, Consumer Goods, Pharmaceutical and Others. The food and beverage segment grabbed XX% market share and captured USD XX Mn market in 2020. However, the consumer goods segment would witness the robust CAGR during the forthcoming years

“Asia-Pacific represents one of the largest markets of Stretch and Shrink Film market”

For a better understanding of the market dynamics of the Stretch and Shrink Film market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific region dominated the market and generated the leading revenue share in 2020 owing to rising disposable income and emerging demand for stretch and shrink films from the pharma sector.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Stretch and Shrink Film Market were the three major steps undertaken to create and analyze the demand for Stretch and Shrink Film across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Stretch and Shrink Film market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Stretch and Shrink Film through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Stretch and Shrink Film market, we conducted a detailed secondary analysis to gather historical market insights and share for type, resin, and application for major regions. Major segments included in the report are type and application. Further region and country-level analyses were conducted to evaluate the overall adoption of Stretch and Shrink Film across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Stretch and Shrink Film. Further, we conducted factor analysis using dependent and independent variables such as the rising disposable income, surging demand from pharma manufacturers, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Stretch and Shrink Film industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Stretch and Shrink Film market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Stretch and Shrink Film across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Stretch and Shrink Film market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Stretch and Shrink Film market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of type, application, the resin of the Stretch and Shrink Film market.

Main Objective of the Stretch and Shrink Film Market Study

The current & future market trends of Stretch and Shrink Film were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Stretch and Shrink Film in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, application, and resin
• Define and analysis of the regulatory framework for the Stretch and Shrink Film industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Stretch and Shrink Film market for the major countries
• The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
• Company profiles of the Stretch and Shrink Film market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry