Vented Stretch Wrap Market : Market Outlook
A vented stretch wrap also known as a ventilated stretch wrap or perforated stretch wrap has holes cut in it to allow free airflow to maintain the quality of the product. This comes 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 plays a major role in maintaining the quality of produce during transit and storage. Vented stretches 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 is 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
- Crawford packaging
- Dunia pack
- AEP industries
- Mima films
- Duo plast
- Tamanet USA
- Western plastics.
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 a 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 the 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.
What is the impact of the covid-19 pandemic on the vented stretch market?
The outburst of Covid-19 had a massive impact on various sectors including the vented stretch market. This market faced an initial problem with an unexpected pause in the production activities due to supply chain disruption.
Manufacturing and procurement of raw materials were completely halted due to various trade restrictions. But once the restrictions were relaxed the market bounced back to normal and is continuing to grow rapidly. With more and more investments in the Food and pharmaceutical sectors, the vented stretch wrap will witness a significant rise in coming years.
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Vented Stretch Wrap Market: Key Segmentation
Based on the product type, the vented stretch wrap market is segmented as
- Perforated Manual wrap
- Perforated Machine wrap
Based on the material, the vented stretch wrap market is segmented into
- Linear Low-density Polyethylene
- Polyethylene Terephthalate
Based on the application, the vented stretch wrap market is segmented into
- Dairy products
- Fresh meat
- Fruits & vegetables
- Agricultural produce
- Horticultural produce
- Processed foods
- Floral market
- Pet foods
- Pharmaceutical companies
Based on the region, the vented stretch wrap market is majorly segmented into
- North America
- Latin America
- South Asia
- East Asia
- Middle east & Africa
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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