Introduction
In today’s dynamic packaging industry, the demand for efficient and attractive packaging solutions is on the rise. Box and carton overwrap films have emerged as versatile materials that offer both protection and aesthetics to various products. This article delves into the Box and Carton Overwrap Films Market, exploring its applications, trends, and growth factors.
Box and Carton Overwrap Films Market: A Brief Overview
Box and Carton Overwrap Films have become a staple in the packaging realm. These films are designed to wrap around boxes and cartons, providing them with an extra layer of protection against external elements, such as moisture, dust, and tampering. Additionally, these films often enhance the visual appeal of the packaged product, making it more enticing for consumers.
The box and carton overwrap films market is poised for significant growth, with an estimated valuation of US$ 12.2 billion in 2023 and a projected reach of US$ 17.1 billion by 2033, underpinned by a steady Compound Annual Growth Rate (CAGR) of 3.5% over the course of the forecast period from 2023 to 2033.
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The growing demand for biodegradable and recyclable packaging solutions is also boosting its adoption among end users. Increasing utilization of fertilizers and chemicals further enhances the application scope of box and carton overwrap films. In addition, wide applications of the product in the food and beverage industry are expected to offer more growth prospects for the Packaging Films for Boxes and Cartons industry.
Box and Carton Overwrap Films Market Manufacturers-
- Terichem A.S.,
- CCL Industries, Inc.,
- Jindal Poly films Ltd.,
- Taghleef Industries LLC,
- Cosmo Films Ltd.,
- Uflex Ltd.,
- Smurfit Kappa Group plc,
- Futamura Group,
- Irplast S.p.A.,
- SIBUR International GmbH,
- Berry Global Inc.,
- Transcendia Inc.,
- Garware Polyester Limited,
- Industrial Development Company sal (Indevco)
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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Box and Carton Overwrap Films Market Segmentations-
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
- Chocolate
- Other Bakery & Confectioneries
- Other Foods
- Beverage
- Personal Care & Cosmetics
- Makeup
- Cream & Lotion
- Perfume
- Other Personal Care & Cosmetics
- Automotive
- Healthcare
- Industrial Packaging
- Shipping & Logistics
- Electrical & Electronics
- Others
By Sales Channel:
- Brand Owner Sales
- Converter Sales
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.
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