San Francisco, California, September 27, 2018: The global stretch & shrink films market is anticipated to witness an unprecedented rise owing to rise in food and beverages industry across the world. Rising popularity of ready to eat food, bakery products, snack foods, frozen meals, and canned food is propelling the manufacturers to rely on stretch & shrink industry for better packaging, notices TMR Research. In a report titled, “Stretch & Shrink Films Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028”.
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Advantages associated with stretch & shrink films such as it has the ability to return back to its original size, it is more secure, provides protection from dust and moisture, aids in reducing package pilferage, and improves stability of the internal handling load has helped the market to grow exponentially. Rising demand of the products for packaging of industrial goods is likely to favor the market growth in future. Demand from cement, metal, construction material, timber, and other industries is likely to rise as, the products from these industries are transported and shipped to other places.
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Another important driver in the market is the steady growth of pharmaceutical industry. Aggressive advancement in science and technology has helped the pharmaceutical industry to grow at a fast pace, this is likely to stimulate the growth of the market as pharmaceutical companies uses stretch & shrink films for packaging purpose. Stretch & shrink finds it usages in various consumer goods such as CDs, toys, and electronic gadgets. Stretch & shrink films are used for keeping these goods intact while transportation, thus eliminating the risk of misplace of the products. Fast paced growth of electronics industry is predicted to have a positive influence on the market. On the basis of region, Asia Pacific held the major share and is likely to dominate in future owing to rise in demand from food and beverages industry particularly from China and India. North America is expected to show a promising growth in market during the forecasts period.