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Box And Carton Overwrap Film Market Size to Rise at USD 16.42 Billion by 2031 With CAGR of 3.8%

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According to the SNS Insider report,  the Box and Carton Overwrap Film Market Growth  was valued at USD 12.18 billion in 2023. It is projected to reach USD 16.42 billion by 2031”

E-commerce’s boom has significantly increased the need for tamper-evident and protective packaging solutions, promoting the use of overwrap films.  

A study by the International Trade Association found a 19% rise in global e-commerce sales in 2022 alone. This trend is likely to continue, driving demand for these films. Moreover, the rising demand for processed and convenience foods, which heavily rely on overwrap films for extended shelf life and product presentation, is another key driver. The growing focus on sustainability is also shaping the market. Consumers are increasingly eco-conscious, prompting manufacturers to develop biodegradable and recyclable overwrap films.

Box And Carton Overwrap Film Market
Box And Carton Overwrap Film Market

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Major Players Listed in this Report are:

  • Innovia Films
  • Berry Global Inc
  • Cosmo Films Ltd
  • Uflex Ltd
  • CCL Industries Inc
  • Garware Polyester Limited,
  • Smurfit Kappa Group plc
  • Jindal Poly Films Ltd
  • Futamura Group
  • Terichem AS

One major hurdle is the fluctuating price of raw materials, particularly resin. 

A study by SNS Insider suggests a 12% increase in resin prices between 2018 and 2022, impacting production costs and film affordability. Additionally, the industry struggles with balancing functionality with sustainability. Consumers are increasingly demanding eco-friendly packaging solutions.  Developing high-performance films from recycled materials or bioplastics remains a complex task, often leading to trade-offs in properties like strength or clarity. Moreover, stricter regulations on plastic waste management are putting pressure on manufacturers.

Untapped Opportunity Analysis:

With growing consumer and regulatory pressure to reduce environmental impact, there’s a gap for cost-effective, high-performance bio-films that can compete with traditional options. Another exciting prospect lies in smart films embedded with sensors. Imagine films that monitor freshness, pressure, or temperature during transport, alerting logistics providers to potential issues and ensuring product integrity. Furthermore, the rise of e-commerce creates a demand for tamper-evident films that provide enhanced security and reduce theft during last-mile deliveries.

Box And Carton Overwrap Film Market Key Segments:

By Material

  • PP
  • PVC
  • PET
  • PE
  • Others

By Film Type

  • Strech Film
  • Shrink Film

By Film Thickness

  • Less Than 20 microns
  • 20-40 microns
  • More Than 40 microns

By Coating Type

  • Coated Films
  • Uncoated Films

By Sales Channel

  • Converter Sales
  • Brand Owner Sales

By End Use

  • Food
  • Beverage
  • Automotive
  • Shipping & Logistics
  • Healthcare
  • Personal Care & Cosmetics
  • Industrial Packaging
  • Electrical & Electronics
  • Others

Emerging economies in Asia Pacific, particularly China and India, are anticipated to witness significant growth due to a booming e-commerce sector and rising disposable incomes, translating into a rise in demand for packaged goods. This growth is likely to be driven by a preference for cost-effective stretch films over shrink wraps. On the other hand, Europe is expected to prioritize sustainability, with a growing focus on bio-based and recycled content films. North America, a mature market, will likely see steady growth driven by factors like automation in the packaging industry and the increasing popularity of tamper-evident films for enhanced security. Interestingly, a trend towards lightweight films is gaining traction globally.

Recent Developments:

CCL Industries recently invested in bio-based polyethylene production capabilities. This move reflects the growing demand for sustainable packaging solutions and positions CCL to provide to eco-conscious consumers and brands.

Treofan Group announced the expansion of its manufacturing facility in Thailand. This expansion is expected to increase their production capacity by 20%, enabling them to meet the rising demand for high-performance overwrap films in Southeast Asia.

Jindal Poly Films recently acquired a polypropylene film manufacturing facility in the United States.

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Key Takeaways:

  • Consumers seek attractive, durable, and convenient packaging, while environmental regulations push for sustainable solutions. This translates into a growing demand for films with specific functionalities. For instance, the rise in e-commerce necessitates puncture-resistant and tamper-evident properties.
  • On the eco-front, the market witnesses a surge in biodegradable and recyclable materials like PE and PP films. This trend is expected to be further amplified by a growing focus on bio-based alternatives.
  • Regionally, the Asia-Pacific market is anticipated to witness the fastest growth due to its booming e-commerce sector and rising disposable incomes.

Table of Contents – Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Impact Analysis
  5. Value Chain Analysis
  6. Porter’s 5 forces model
  7. PEST Analysis
  8. Box and Carton Overwrap Film Market Segmentation, By Material
  9. Box and Carton Overwrap Film Market Segmentation, By Film Type
  10. Box and Carton Overwrap Film Market Segmentation, By Film Thickness
  11. Box and Carton Overwrap Film Market Segmentation, By Coating Type
  12. Box and Carton Overwrap Film Market Segmentation, By Sales Channel
  13. Box and Carton Overwrap Film Market Segmentation, By End Use
  14. Regional Analysis
  15. Company Profiles
  16. Competitive Landscape
  17. Conclusion

Continue….

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