The market for box and carton overwrap films is anticipated to reach US$ 1.5 Billion by 2028, growing at a CAGR of 3.8% from 2022 to 2028. The market is expected to reach US$ 1.2 Billion in 2022.
According to a study by Future Market Insights, the stretch film type segment of the market for box and carton overwrap films is expected to hold a market share of roughly 66% in 2022 and grow at a CAGR of 4.4% from that year through the following year.
With a projected market share of 30.4% in 2022, the APEJ region is predicted to lead the market for box and carton overwrap films.
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How will the Growing Preference for Biodegradable Films Drive the Box and Carton Overwrap Films Market Growth?
The overwrapping films market, and broadly, the packaging films market is undergoing a rapid transformation towards a sustainable future. Manufactures have been adopting three key technologies for the production of biodegradable overwrap films depending on the material used. These materials include polypropylene, polylactic acid (i.e. corn starch), and cellophane (wood-based).
Companies such as Treofan and Innovia Films (CCL Industries) have been marketing overwrap or barrier films manufactured from corn starch (Biophan) and wood pulp (cellophane), respectively. The growing preference of the manufacturers, as well as the consumers towards the sustainable packaging solution, is anticipated to drive the market growth for biodegradable box and carton overwrap films.
Competitive Landscape
Leading box and carton overwrap films manufacturers are committed to launching new products in the market targeting specific end-use industries. Key players in the box and carton overwrap films market are also making investments to increase their manufacturing capabilities and geographical footprint in an attempt to increase their market share.
For instance, in April 2021, Berry Global Inc. announced the investment of US$ 70 Mn for new multilayer blown film lines at its North American facilities for consumer packaging solutions in food, beverage and e-commerce applications.
In March 2021, Innovia Films, a division of CCL Industries announced the launch of a new film, REF30cn in its range of sustainable PP packaging films, Encore. The new film can be used for both overwrap and flow-wrap applications.
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Key Companies Profiled
- Berry Global Inc.
- Uflex Ltd.
- Jindal Poly films Ltd.
- Futamura Chemical Co., Ltd.
- Irplast S.p.A.
- CCL Industries, Inc.
- Terichem A.S.
- Smurfit Kappa Group plc
- Treofan Group
- Taghleef Industries LLC
- SIBUR International GmbH
- Cosmo Films Ltd.
- Garware Polyester Limited
Box and Carton Overwrap Films Market by Category
By Material Type:
- PVC
- PE
- PP
- PET
- Others
By Film Type:
- Shrink Film
- Stretch Film
By Film Thickness:
- <20 Microns
- 20-40 Microns
- >40 Microns
By Coating Type:
- Coated Films
- Acrylic-coated
- PVDC-coated
- EVOH-coated
- Acrylic-PVDC Mix
- Uncoated Films
- BOPP
- BOPET
- CPP
- BOPA
- BOPLA
By End Use:
- Food
- Processed Food
- Fresh Produce
- Dairy Products
- Bakery & Confectionery
- Biscuit
- Chocolate
- Others
- Other Foods
- Beverage
- Personal Care & Cosmetics
- Makeup
- Cream & Lotion
- Perfume
- Others
- Automotive
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Table of Content
1. Executive Summary
1.1. Global Market Overview
1.2. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Coverage
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
About Future Market Insights, Inc.
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