The global vented stretch wrap market is anticipated to accumulate a market value of US$ 1,662.59 million in 2023 and is expected to garner a valuation of US$ 3,200 million by exhibiting a CAGR of 6.7% in the forecast period 2023 to 2033. The market for perforated stretch wrap market reflected growth witha 5.2% CAGR in the historical period 2018 to 2022.
The growing need to maintain the quality of produce during transportation and storage is a significant factor driving the growth of the ventilated stretch wrap market. In addition, use of bioplastic materials for packaging in multiple industries, rising need for the replacement of metal and all other materials that are not environmentally friendly and are not durable will further drive growth of the market.
The demand for hygienic and durable food packaging solutions will create new avenues for the market expansion of perforated stretch wraps. On the other hand, increasing advancements occurring in end-user industries compelling ventilated stretch wrap manufacturers to work on improving the quality of their products is likely to create lucrative growth prospects for key players which will further boost market growth.
The growth of the market for perforated machine wraps in the United States is expected to be driven by the surging demand for eco-friendly materials for packaging. Also, the presence of a number of international and local manufacturers operating in the ventilated stretch wraps space with a strong foothold in the country is also anticipated to aid in market growth.
Various brands are focusing on meeting sustainability targets and exploring more sustainable alternatives to meet their commitments. The demand for Polyethylene (PE) stretch wraps is growing over corrugate and paperboard as it is more environmentally friendly and uses less energy, thereby augmenting growth during the projection period. Also, the market for ventilated wraps is expected to witness significant growth owing to growing technological innovations with respect to perforated manual wraps.
For example, the launch of highly advanced packaging wraps by SABIC manufactured through a multilayer and polymer blend technology offers high load stability for the packaging of food products thus positively contributing to the market growth.
The demand for flexible plastic packaging such as perforated stretch wraps for the expanding frozen food industry is rising, owing to its benefits such as lightness and low cost. Several conventional materials, like paperboard, metals, and glass, are being replaced by these packaging solutions, bolstering product demand in the forecast period.
The rising propensity toward ready-to-eat meals and frozen meals, along with canned products like vegetables, fruits, meat and seafoods, are further anticipated to offer lucrative opportunities for the perforated stretch wraps manufacturers.
On the regional end, Asia Pacific is expected to lead the market by accumulating over 44% market share by end of the forecast period. The region is anticipated to dominate due to flourishing food and beverage industry, particularly in India and China.
Accelerating demand for packaged food coupled with inflating disposable income of consumers is expected to fuel the demand for perforated stretch wraps during the assessment period.
Similarly, the market in North America will continue to project the highest CAGR of 6.5% for this period due to increasing demand for hygienic and durable food packaging material in this region.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 1,662.59 million
Projected Market Value in 2033
US$ 3,200 million
Growth Rate (2023 to 2033)
6.7% CAGR
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How Competitive is the Market?
Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing ventilated stretch wraps are expected to create lucrative opportunities for market growth during the forecast period.
In January 2021, Cortec launched Eco Wrap, one of the world's first compostable, machine-grade stretch films. This new product represents a revolution for the industrial packaging and warehouse industries, which heavily depend on the automated stretch wrappers to prepare pallets of goods for storage, inventory, or shipment.
In August 2019, Standard-Knapp, Inc. made an agreement to partner with EoL Packaging Experts, an international company in end-of-line packaging solutions for the food and beverage industry. This coalition can create a globally active industry leader for end-of-line packaging machinery and systems with an established presence in both America and Europe.
A vented stretch wrap also known as ventilated stretch wrap or perforated stretch wrap has holes cut in it to allow free airflow to maintain the quality of the product. This come in different sizes and uses different material which makes it possible in multiple industries.
The global Vented Stretch wrap market is witnessing a substantial growth rate over the past few years and is expected to grow further for the next few years. The vented stretch wrap is used across multiple industries, because of the variety of applications.
This play a major role in maintaining the quality of produce during transit and storage. Vented stretch are used to secure the pallet loads of fresh or cold farm produce majorly. The vented stretch wrap is majorly used for wrapping flowers, meat and dairy products, wood, and other produce.
They are largely used to wrap pallet loads as they are moisture-resistant and air resistant. The vented stretch wraps are user-friendly, Cost-effective, and more energy-efficient. The Vented Stretch wrap is further segmented based on the product type, the material used, dimensions, regions, and end-user.
What are the Key Trends Impacting the Growth of the Vented Stretch Wrap Market?
The use of bioplastic materials for packaging in multiple industries drives the growth of this market. Increasing demand for the replacement of metal and all other materials that are not environmentally friendly and are not durable boosts the market growth of vented stretch wrap. Trends also show that the demand for hygienic and durable food packaging material is expected to encourage market growth.
Vented stretch wraps are made up of reusable plastic and can be easily recycled hence this can replace all other existing packaging material. This will reduce the increasing consumer environmental concerns and helps to accelerate the growth.
The food and beverage industry, the pharmaceutical industry are growing exponentially which is a positive sign for the vented Stretch market. The food industry is also witnessing a major shift towards healthy foods; Plant-based foods, fruits and vegetables, increasing the market growth.
The demand for the vented stretch wrap is driven by advances in food packaging. The food packaging segment is the primary market for vented stretch wrap packaging. Hence, advancements in the food and beverage industry directly impact the market growth of vented stretch wrap packaging.
Governments and international organizations across the world are coming together to ensure the flow of food trade helps to maintain the revenue flow. Upliftment of trade restrictions and ease of regulations also help to boost the market.
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What are the opportunities to Increase Market Share in Vented Stretch Wrap Market?
With all the advancements taking place in end-user industries the vented stretch wrap manufacturers are working to upgrade the quality of their products. Manufacturers are investing in Research and Development (R&D) activities to develop sturdy and long-lasting wrap which can with-hold high temperatures and condensation. Environmental challenges have led companies to produce upgraded wrap that leaves less carbon footprint.
What are the Strategies that Key Players in the Vented Stretch Market are Adopting to Increase Their Market Share?
The few key players producing vented stretch wrap market in the global market are
These manufacturers are researching and developing high-performance stretch wraps that can withstand all kinds of extreme conditions and prevent the produce from damages during transportation and storage. Companies are also launching recyclable materials to attract customers.
Megaplast is offering stretch wraps with maximum aeration combined with maximum strength and is also focusing on cost minimization. Megaplast also offers 100% recyclable materials and has excellent holding force.
Landsberg is offering stretch wraps in almost 25 different dimensions that allow the consumer to choose from the wide range according to their preference.
The key strategy of any company that produces vented stretch wrap is to develop a new variety of products. Each product has a different type of requirement. Manufacturers are focusing on developing new upgraded materials for different kinds of food and pharmaceutical products that are capable of retaining their quality.
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Which Region is the Major Market for the Vented Stretch Wrap?
Vented stretch wrap packaging market has a presence in North American, European, Middle Eastern, African, and the Asia Pacific regions. The USA in the North American region is one of the major markets for stretch wrap. Around 1500 types of packages are used for food packaging; this number itself shows that there is a lot of scope for gaining market share.
Europe is also a major market for vented stretch wrap. Developing nations in the Asia Pacific region like India, China are major markets due to investments in the food sector. The vented stretch wrap has a major market in Europe followed by North America and Asia.
