My first Magazine Stretch and Shrink Film Market | Page 4

The revenue generated by the global market for stretch and shrink films was pegged at US $ 14.1 bn in 2015 . Registering a 5.2 % CAGR , the opportunity in this market is estimated to be worth US $ 21.1 bn by 2024 . By type of material , linear low density polyethylene ( LLDPE ) was the leading segment in 2015 and is estimated to account for a revenue share of almost 47 % by the end of 2016 . Based on type of product , the stretch and shrink films market is led by shrink films .

Geographically , Asia Pacific is not only the key revenue generator in the global stretch and shrink films market but is also projected to be the fastest growing regional segment during the course of of the forecast period . On the basis of end use , the food and beverages sector was the leading consumer and revenue generator of stretch and shrink films . The pharmaceutical sector , on the other hand , is anticipated to register the highest CAGR from 2016 to 2024 .

The global stretch and shrink films market is led by Fuji Seal International , Inc ., Berry Plastics , and Dow Chemicals . Transparency Market Research has observed that these companies , as well as other prominent players , have been emphasizing on tie-ups with local distributors and expanding operations in developing economies to strengthen their position in the stretch and shrink films market .

Bemis Company Inc . is one such company that has focused on geographical expansion as a key growth strategy . It has dedicated significant resources in strengthening its presence in