Stretch Hooder Packaging Film Market Size and Share

Stretch Hooder Packaging Film Market Growth Insights 2023 – 2034

The global stretch hooder packaging film market size reached US$ 1.30 billion in 2023 and is projected to hit around US$ 2.05 billion by 2034, expanding at a CAGR of 4.25% during the forecast period from 2024 to 2034.

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Growth in e-commerce industry trending the demand of stretch hooder film packaging. Additionally, growing awareness of sustainability and damage-free packaging driving market expansion. Adoption of automation in packaging systems likely to boost market success in upcoming period.

Key takeaways

• Asia Pacific dominated the stretch hooder packaging film market in 2023.
• North America is expected to grow at a significant rate in the market during the forecast period. 
• By type, the PE hood packaging film segment is expected to grow at significant rate during the forecast period.
• By application, the food & beverages segment dominated the stetch hooder packaging film market in 2023.
• By application, the building and construction segment accelerated as significantly growing segment of market.

Market Overview

Stretch hooder films are made up of elastic polymer films for packaging and prevention of goods from damages. This are affordable and temper-evident packaging films, that are majorly applicable for food & beverages, construction equipment’s, chemical products, transport goods, and home appliances. Stretch hooder provide protection and security from dust, scratches and moisture damages.

Stretch hooder films are utilized for refrigerators, washing machines, oven, microwaves, air conditioners, and many more to reduce damage rate and enhance efficiency in handling and protection. They provide excellent protection from dust, moisture, and shock absorption. Stretch hooder film packaging reduces transportation cost by optimizing cargo space. Advantages in packaging technology & material science, rapid adoption of e-commerce, growing digitalization, and customizations hold excellent market potential.

Emerging Automation in Industries: Market’s Largest Driver

Integration with robotics and automation in packaging sector are significantly influencing the market’s growth. Automation has enhanced the efficiency of packaging process and productivity. Robotics are able to reduce error and manual labors, which helps to reduce cost of productions. Manufacturers are adopting automation technology in packaging to reduce workplace injuries and enhance flexibility.

Additionally, automation can work for maintaining and supporting to process and improve accuracy. With emerging cutting-edge technologies like 5G, edge computing, 3D printing are helpful for faster data processing, customized packaging’s, as well as for real-time-monitoring. The demand for automation and robotics in stretch hooder packaging films are boosting due to its characteristics of efficiency, productivity enhancement, and accuracy that bosting market and encouraging for novel innovations in packaging industry.

Top Factors Influencing Stretch Hooder Packaging Film Market

• Rapid growth in transportation and logistic sectors are expanding global stretch hooder packaging film market.
• Ongoing innovations and enhancement in material science and technologies are the key factors driving market.
• Increased demand for recycle packaging, reduction of carbon emission concerns, and focus adoption on biodegradable material holding market opportunities.
• Government initiates and regulatory framework participations for waste management and reductions are trending innovation in stretch hooder packing films.
• Stretch hooder packaging film market is driven in healthcare sectors due to increased requirement for temper-evident packaging for pharmaceutical drugs.

Market Trends

Advance Polymer Technology

Ongoing innovations for advancement in polymer technologies are helping to enhance durability, strength, flexibility, elasticity of stretch hooder packaging films. Advancements are able to provide better barrier properties for moistures and UV rays, and resistance to tears and punctures. Advancements in polymer technology offers high-sensitive properties of productivity, sustainability, accuracy and efficiency.

Sustainability awareness

Since from few years, world has been focusing on the adoption of sustainable packaging solutions. Sustainable packaging does not only prevent environmental damage but also provides cost saving opportunities by reducing wastage and limiting material usages. Stretch hooder packaging film market is seeking for spectacular growth due to increased regulatory framework initiatives for sustainable packaging and encouraging adoption of cutting-edge technologies.

Market Opportunity

Investment in Recycling Technology

Investment in cutting-edge recycling technology can open new opportunities for the stretch hood packaging market in the forecast period. This investment can help manage environmental sustainability and reduce the cost of raw materials. Additionally, recycling can satisfy regulatory compliance by recycling and waste management procedures. Recycling technologies can maintain and enhance the popularity of brands by committing to sustainability. Recycling can further help to improve companies’ revenue by using and selling recycled materials.

Recycling can transfer stretch hooder packing films in low-value products, which can enhance the efficiency of packaging materials. Recycling can help innovate stretch hooder packaging films into novel film materials. Recycling investment can encourage developments in infrastructures and biodegradable films. Government initiatives and manufacturing companies’ partnerships with waste management and recycling companies have boosted sustainability and affordability, creating an opportunity for the stretch hood packaging market.

• In February 2023, the advanced stretch hooder film with a minimum 30% recycled plastic was introduced by Berry Global's flexible films. This innovation was done for committing to satisfy UK and European sustainable packaging regulations.

Management Issues: Market’s Largest Challenge

High production cost can hamper the market growth due to supply chain cost effect and raw material initial costs. Moreover, advantage in cutting-edge technology and equipment’s can be costly for production industry. Management of stock, supply chain distribution, inventory accuracy, raw material viability, product variability can be difficult to handle at a time. Technology emerging for inventory management can be time-consuming and expensive. To maintain effectiveness, customer satisfaction and cost-effectiveness, advantages inventory management is essential for market strength.

Regional Analysis

Expansion in Pharmaceutical Industry: Asia’s Dominance in the Market

Expansion of pharmaceutical infrastructure in Asia Pacific region is driving expansion of stretch hooder packaging film market. Increasing demand for generic medicines, growth of healthcare sectors, are the key factors behind this growth. Pharmaceutical sector adopting stretch hooder packaging films due to increased demand of tamper-evident packaging and biodegradable & sustainable packaging. Use of stretch hooder packaging films has increased in vaccine packaging. India holding largest market share due to its expanded middle-class population, increasing urbanization, and investment in pharmaceuticals.

Pharmaceutical manufacturers are preferring stretch hooder packaging films due to its affordability, moisture and contamination resistance, secure and efficient packaging properties to maintain quality of products. With increasing technology innovations, urbanization, expanding infrastructure and population, and government participation for encouragement of sustainable stretch hooder film packaging utilization, region is projected to continue dominate market share.

Strong Competitive Landscape: North America to Show Drastic Growth

North America is driving market expansion due to its expanded pharmaceutical and food industries. Increased demand for temper-evident packaging, and expanding e-commerce platform are the key trends for market growth in region. US has blessed with advanced manufacturing infrastructure. Moreover, US FDA has promoted strength packaging regulations in country, that encouraging the utilization of stretch hooder packaging film in nation. Moreover, ongoing focus of region on upcycle and recycle packaging is likely to hold new space for market growth.

• For instance, in August 2024, BEUMER Group announced the display of its latest 'maintenance-friendly' stretch hood technology in September 2024 at FACHPACK. Aim of 'maintenance-friendly' stretch hood technology is to enhance safety, efficacy, and ergonomic performance by competing with film containing recycle contents.

Segment Insights

By Type

Based on type, the PE (Polyethylene) hood packaging film segment held the largest market share due to its properties of durability and puncture resistance. PE hood packaging films are mainly used to reduce material thickness. PE Hood Packaging Film is affordable, easy to seal, transparent, and printable. The films help to resist moisture and chemicals. E-commerce and the logistics industry are significant segment drivers as they utilize Polyethylene-based film packaging to reduce damage during product shipping.

Medical devices and pharmaceutical companies also prefer polyethylene film packaging. However, food & beverages are the primary key users of this packaging as used to protect meat, dairy products, and beverages. Advantages and innovations in recycled PE films, biodegradable PE films, and nanotechnology-enable PE films seek cutting-edge properties enhancement.

By Application

By application, the food & beverages segment dominated market in 2023. Requirement of food safety and preservation has increased the demand for food packaging. E-commerce and online delivery growth has boost use of packaging films in sector. Furthermore, with growth concern of sustainability, stretch hooder packaging films has rapidly adopted by food & beverages end users due to its portability and convenience. The segment growth is impacted by strict regulatory rules of food packaging quality and rapid urbanization.

On the other hand, the building & construction segment is the fastest-growing segment of the stretch hood packaging film market with rapid infrastructure growth. The affordability of stretch hood packaging films has benefited the growing middle-class population.

The construction sector is adopting stretch more hood packaging films to protect materials from weathering damage better, affecting, and securing properties. Additionally, growing demand for sustainable materials packaging is driving segment growth in the market. Due to stringent regulation protocols, manufacturers have been motivated to develop waterproof, corrosion-resistant, and biodegradable film packaging innovations.

Recent Developments

• In February 2024, the innovation of Titanium 5™ Stretch Hood film line, including Titanium 5P™ with 20% post-consumer recycled content (PCR), was announced by the Charter Next Generation (CNG), a global a leading innovator in sustainable films.
• In July 2024, a white ultra low-density film, was launched by the Innovia Films, a material science pioneer and major producer of BOPP films. A white ultra low-density film is designed for ice cream flow wrap packaging.
• In September 2024, RKW Group introduced the eco-friendly Flexxta® Stretch Hood Series with several stretch hood types. RKW launched sustainable stretch hood films, which are made with up to 30% PCR content, EVA free and Recyclass certified.

Stretch Hooder Packaging Film Market Companies

• Dow
• Bischof+Klein
• Charter Next Generation
• Innovia Films
• RKW Group
• Novolex
• Intertape Polymer Group Inc.
• Manuli Stretch S.p.A.
• PETRIO
• IMS Group
• Plastixx FFS Technologies
• Berry Global, Layfield
• Trioworld
• Luban Pack
• Bollore Group
• Paragon Films Inc.

Stretch Hooder Packaging Film Market Segments

By Type

• PP Hood Packaging Film
• PE Hood Packaging Film
• PVC Hood Packaging Film
• EVA Hood Packaging Film

By Application

• Chemical & Petrochemical
• Building & Construction
• Food & Beverage
• Home Applliances
• Transport Packaging
• Others

By Region

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA) 
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait