Stretch Hood Film Market Scope and Opportunities Analysis 2019 – 2027

Stretch hood film offers a reliable and cost effective packaging solutions for various products thereby minimizing product damage during transportation and logistics. It is applied on the pallet in the similar fashion as that of the stretch film except that it makes use of heat to pack the pallets tightly with the film. This approach has helped in minimizing the wastage of film and thus has reduced overall packaging cost. Due to this advantageous feature, the stretch hood film market is expected to grow in terms of demand throughout the forecast period. Stretch hood films are primarily made by LDPE and LLDPE. The use of these polymers makes the product cheaper as well as enhances its applicability over various pallet profiles. Industries like food, beverage, cosmetics, etc. are increasingly making use of stretch hood films for packaging of their products during transportation.

Stretch Hood Film Market – Dynamics

Stretch hood films are expected to witness high demand from various industrial verticals including food, beverage, pharmaceuticals and cosmetics. Due to its cost effectiveness and ease of application, stretch hood films is being preferred over other wrapping solutions like stretch wrap and shrink wrap. Over last few decades, global pharmaceutical and food and beverage industry have shown a continuous growth which is expected to have a positive impact on the demand for global stretch hood films throughout the forecast period.

The cosmetics industry have also emerged as a growing industry in world’s emerging economies and the trend is anticipated to continue throughout the forecast period thereby creating more opportunities for stretch hood film which is extensively used for packaging the product during transportation and logistics by this sector. Thus, the applicability of the stretch films in various industries and its cost effectiveness are anticipated to drive the overall market of stretch hood films between 2017 and 2027. However, the conventional packaging solutions like containers, film wraps, shrink wraps, etc. are expected to challenge the overall demand and may act as restraint for the stretch hood film market over the forecast period.

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For the past few decades, Asia Pacific has experienced a burgeoning growth in pharmaceutical industry. The demand of the allied product such as stretch hood film is thus expected to witness a hike in terms of demand from this sector over the forecast period. India and China, the two emerging economies have shown a continuous growth in pharmaceutical and cosmetic industry. This growth is also anticipated to reflect into increasing demand for the stretch hood film from these regions.

North America has a well-established market and is therefore expected to follow Asia Pacific in terms of demand for the stretch hood film throughout the forecast period. Latin America is anticipated to show relatively slower growth in the stretch hood film market owing to its stagnant economy. Europe and Middle East and Africa are expected to reflect a sluggish growth in stretch hood film market between 2017 and 2027 due to the prevailing stagnant economy in the region.