Future Market Insights (FMI) delivers key insights on the global box and carton overwrap films market in its published report titled “Global Box and Carton Overwrap films Market Forecast, Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.” In terms of revenue, the global box and carton overwrap films market is estimated to expand at a CAGR of 4.1% during the forecast period, owing to numerous factors on which FMI sheds light in this report.
Box and carton overwrap films can be wrapped around a variety of packaging formats. Box and carton overwrap films are used for different types of box packaging for tobacco, cosmetics, and pharmaceuticals. Box and carton overwrap films serve the purpose of protection from moisture and external elements. The manufacturers in the box and carton overwrap films market prefer 20-40 micron thickness films for wrapping purposes.
Although box and carton applications are expected to expand at a healthy growth rate, the fast adoption of flexible packaging solutions could pose a threat to the box and carton overwrap films market. However, the global box and carton overwrap films market is estimated to expand at a noticeable growth rate during the forecast period, due to an increment in the usage of protective packaging solutions.
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The global box and carton overwrap films market is segmented on the basis of material type, film type, film thickness, coating type, end use, sales channel, and region. On the basis of material type, the global box and carton overwrap films market is segmented as PVC, PE, PP, PET, and other materials. On the basis of film type, the global box and carton overwrap films market is segmented as shrink and stretch film. On the basis of film thickness, the global box and carton overwrap films market is segmented as coated and uncoated films. On the basis of end use, the global box and carton overwrap films market is segmented as food, beverage, PC, & cosmetics, Automotive, health care, industrial packaging, shipping & logistics, electrical and electronics, and others.
On the basis of sales channel, the global box and carton overwrap films market is segmented as brand owner sales and converter sales. The food segment in box and carton overwrap films market includes processed food, fresh produce, dairy products, and bakery & confectionery.
Manufacturers Prefer Multi-functional Box and Carton Overwrap Films
Box and carton overwrap films manufacturers are focusing on overwrap films that incorporate several convenience and product safety features. The demand for efficient packaging solutions is no longer focused on simply offering convenience. Modern-day box and carton overwrap films incorporate several features such as assurance of extended shelf life and tamper evidence. In addition, box and carton overwrap films with their high printability, are designed to enhance the on-shelf appeal of the product, since consumer perception plays a key role in the buying decision in a modern retail environment. Box and carton overwrap films market is expected to have significant growth due to manufacturer’s changing preference towards multi-functional properties.
Box and Carton Overwrap Films Market: Key Developments
Manufacturers in the box and carton overwrap films market use acquisition and merger strategies for significant growth in the coming years. Companies such as CCL industries and Jindal Poly Films Ltd. are following strategies such as mergers and acquisitions to improve business operations and expand all over the globe.
- In 2017, CCL Industries Inc., acquired Innovia group of companies, a manufacturer of packaging films, labels, and tobacco packaging solutions which include box and carton overwrap films.
- In July 2018, CCL Industries Inc., acquired Treofan America Inc. and Trespaphan Mexico Holdings GmbH (Treofan Americas).
- In 2018, Jindal Films, an Indian film and label manufacturer acquired a controlling stake in Treofan Europe.
Box and Carton Overwrap Films Market: Competitive Landscape
Terichem A.S., CCL Industries Inc., Berry Global Inc., Cosmo Films Ltd., Smurfit Kappa Group Plc, Treofan Group, Futamura Chemical Co., Ltd., Irplast S.p.A., Taghleef Industries Group, SIBUR International GmbH, Jindal Poly Films Ltd., Garware Polyester Limited, Transcendia Inc., Uflex Ltd, and Industrial Development Company sal (Indevco) among others.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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