Global Stretch Packaging Market Information Report by Material (Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC) and others), by Application (Food & Beverages, Industrial goods, Consumer product, and Others) and By Region – Global Forecast To 2023
On the basis of regions, global stretch packaging market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia-Pacific dominates the global stretch packaging market. It is expected to be the fastest growing region for the market. Rapid growth in food and beverage industry drives the market growth here. Growing industrialization and urbanization in developing countries such as China and India, coupled with the growth in the Asia-Pacific region, provides boost to the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. North America is also expected to contribute significantly during the forecast period. Increased consumption of beverages fuels the growth of the market. Latin America and Middle-East & Africa regions are also expected to show a positive growth over the forecast period due to rising demand from the manufacturing sector.
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Global stretch packaging market has been segmented based on material, application and region. On the basis of material, the market is segmented as Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Poly vinyl chloride (PVC). Low Density Polyethylene dominates the material segment of the market. Majority of the end users use LDPE for stretch packaging. LLDPE is expected to be the fastest growing material segment. PVC is a dense material. It is considered a common material in India, when clarity is an important selection criterion, particularly for consumer packaging. On the basis of application, the market is segmented as food & beverages, industrial product, consumer product, and others. Food & Beverages segment dominates the application segment of the market. Increased consumption of food & beverages across the globe, drives the demand of beverages.
Stretch packaging is used where goods should be tightly held together and secured for transportation.
The prominent players in the stretch packaging market include Bemis Company, Inc. (U.S.), Berry Global, Inc. (U.S.), Amcor Ltd (Australia), Sigma Plastics Group, Inc. (U.S.), AEP Industries Inc. (U.S), DUO PLAST AG (Germany), Unnati Industrial Corporation (Inda), U.S. Packaging & Wrapping LLC (U.S.), and Grafix Arts (U.S.).
Hence, global stretch packaging market is expected to grow at a CAGR of 4.7% during the forecast period.
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The report for Global Stretch Packaging Market of Market Research Future comprises extensive primary research findings along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.