Stretch Packaging Market at 4.7% CAGR : Sales, Size, Share, Trends and Forecast to 2023

Market Research Future published a research report on “Stretch Packaging Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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
Market Highlights:

The growth in import export activities among the countries, increases the shipping of products, which drives the growth of the market. Stretch packaging is used to hold the loads and products together on a pallet for the purpose of transportation or storage. This packaging is transparent, which makes it suitable for retail & wholesale display, and ideal for general marketing purposes, due to its clear surface. These factors also impact the growth of the market, positively. However, the availability of cheap alternatives may hamper the growth of the market.

Stretch packaging market is projected to grow at a CAGR of 4.7% during the forecast period.

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Market Research Analysis:

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 and 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.

Key Players:

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 (India), U.S. Packaging & Wrapping LLC (U.S.), and Grafix Arts (U.S.).

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