Zion Market Research has published a new report titled “Stretch Hood Films Market by Material (Polyethylene, Plastomers, Elastomers, Ethylene Vinyl Acetate, and Others), by Thickness (Up to 50 Microns, 50-100 Microns, 100-150 Microns, and 150 Microns and Above), and by End-User (Pharmaceuticals, Cosmetics, Food & Beverage, Homecare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global stretch hood films market was valued at approximately USD 647 million in 2018 and is expected to generate around USD 1,094 million by 2025, at a CAGR of around 7.8% between 2019 and 2025.
Stretch hood films are reliable packaging solutions that are used in a wide range of products to reduce the damage during transportation and logistics. It offers specific properties, such as flexibility, elasticity, firmness, stability, weather protection, and transparency. The growing demand for stretch hood films for packaging across various industries, such as pharmaceuticals, food and beverage, and cosmetics, is likely to drive the stretch hood films market globally in the future. Stretch hood films are cost-effective in nature as compared to the other wrapping solutions, such as stretch wraps and shrink wraps.
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They help in reducing film wastage and overall packaging charges, which makes them more preferable than the other wrapping solutions. This, in turn, is further expected to contribute toward the stretch hood films market growth over the estimated timeframe. However, several government regulations regarding plastic usage and lack of technology for plastic recycling may hinder the stretch hood films market growth in the upcoming years.
On the basis of material, the global stretch hood films market is segmented into polyethylene (LLDPE, HDPE, and LDPE), elastomers, ethylene vinyl acetate, and others. The polyethylene segment dominated the global market in 2018 and is expected to maintain its leading position in the upcoming years as well. The LLDPE films segment is anticipated to register the highest CAGR in the future, owing to their extensive use in the food processing industry due to their high transparency. Moreover, these films are generally used in manufacturing consumer goods due to their prolonged shelf life, better seal, and superior print capability. Based on the thickness, the stretch hood films market is segmented into up to 50 microns, 50-100 microns, 100-150 microns, and 150 microns and above.
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Based on thickness, the market for stretch hood films is segmented into up to 50 microns, 50-100 microns, 100-150 microns, and 150 microns and above. On the basis of end-user, this market is categorized into pharmaceuticals, cosmetics, food and beverage, home care, and others. The food and beverage industry is anticipated to dominate the stretch hood films market over the forecast time period, owing to the rising demand for packaged food, such as processed snacks, ready-to-eat meals, frozen meals, and bakery products. Additionally, the growing product demand for packing frozen and fresh food items, such as fruits, vegetables, and meat, is predicted to further boost this segment’s growth.
By region, Asia Pacific held the largest market share in 2018 and is expected to dominate in the upcoming years. This growth can be attributed to the thriving pharmaceutical and food and beverage sectors, especially in China and India. Moreover, increasing disposable income and busy lifestyles of consumers are fuelling the growing demand for packaged food, which is estimated to propel the use of flexible packaging. This, in turn, is likely to further boost the region’s stretch hood films market growth in the future.
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Some key players of the global stretch hood films market are NPF Polyfilms, Gebr Durrbeck Kunststoffe, Aalmir Plastic Industries, UAB Umaras, Manuli Stretch, Shields Bag and Printing, Rosenflex Limited, Muraplast, RKW Group, Thrace Synthetic Packaging Limited, Muller Load Containment Solution, Integrated Packaging Group, Trioplast Industrier, AEP Industries, Sigma Plastics Group, Novolex Holdings, and Coveris Holdings, among others.
This report segments the global stretch hood films market into:
Global Stretch Hood Films Market: Material Analysis
- Ethylene Vinyl Acetate
Global Stretch Hood Films Market: Thickness Analysis
- Up to 50 Microns
- 50-100 Microns
- 100-150 Microns
- 150 Microns and Above
Global Stretch Hood Films Market: End-User Analysis
- Food and Beverage
Global Stretch Hood Films Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa