According to FMI’s estimate, the box and carton overwrap films market is expected to grow at a CAGR of 3.5% over the forecast period. The size of the industry is projected to rise from US$ 12.2 billion in 2023 to US$ 17.1 billion by the end of 2033.
Overwrap films for boxes and cartons protect the product from damage and mishaps during shipment. The box and carton overwrap films market is expected to grow as a result of the expanding e-commerce market and offline sales. The market is expanding due to the widespread use of box and carton overwrap films in a variety of packaging types in the cosmetics, logistics, food and beverage, tobacco, and other industries.
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Box and carton overwrap films’ high-quality printability aids in the development of the product’s brand value. Box films contribute to improving the package’s overall appearance even when there is no print.
The use of biodegradable and recyclable packaging is also being aided by the rising demand for such products among end consumers. The application range of box and carton overwrap films is progressively expanded by rising fertiliser and chemical use. Further growth opportunities for the box and carton overwrap films market are anticipated as a result of the product’s extensive uses in the food and beverage sector.
Key Highlights of the Box and Carton Overwrap Films Market:
- The China box and carton overwrap films industry is expected to lead the overall market over the forecast period. The market is estimated to reach US$ 3.7 billion by 2033, expanding at a CAGR of 5%.
- After China, the United States market is projected to be the top market. The United States box and carton overwrap films industry is estimated to attain US$ 3.6 billion by 2033. The market is expected to register a tepid CAGR of 2.9% over the forecast period.
- India is another significant Asian market for box and carton overwrap films after China. The India market is expected to attain US$ 1.5 billion by 2033, exhibiting a robust CAGR of 6.4%. The rise in the production and sale of cosmetics, food and beverage, and tobacco products in the country is projected to favor market growth.
- Germany is assessed to have a considerable share in the growth of the box and carton overwrap films industry in Europe. The market is evaluated to attain US$ 1.1 billion by 2033, expanding at a CAGR of 1.3%.
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New Developments in the Global Box and Carton Overwrap Films Market:
- In 2021, UFlex Limited officially announced its domestic and international expansion for packaging film units to meet the increasing demand. The new line, with a production capacity of 63,000 TPA, has been added in South India.
- In 2021, Innovia Films introduced its Encore range of polypropylene packaging films. The performance of this film is comparable to its fossil-based equivalent. Due to this factor, the film is appropriate for high-speed horizontal overwrap and other overwrap applications.
Market participants in the global box and carton overwrap films industry include
- Terichem A.S.
- CCL Industries, Inc.
- Jindal Poly films Ltd.
- Taghleef Industries LLC
- Cosmo Films Ltd.
- Uflex Ltd.
- Smurfit Kappa Group plc
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Box and Carton Overwrap Films Market by Category
By Material Type:
- PVC
- PE
- PP
- PET
- Other Material Types
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
- Biscuit Overwraps
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