With a valuation of approximately US$ 29.5 billion in 2021 and a Y-o-Y growth of 3.3%, the global flow wraps market is expected to witness robust sales with a healthy Compound Annual Growth Rate (CAGR) of 3.9%, reaching a projected valuation of US$ 44.4 billion by 2032.
In 2022, the anticipated growth in global consumption of flow wraps within the food and beverages sector is projected to be 4.4%, with an estimated twofold increase in volume expansion by 2032 compared to the figures recorded in 2021. Additionally, there is a forecasted marginal increase in demand for flow wraps within the personal care and cosmetics industry, expected to experience a Compound Annual Growth Rate (CAGR) of 3% from 2022 to 2032.
China emerges as a pivotal player in the flow wraps industry, commanding a substantial 13% demand share in 2021. The country has made remarkable strides, riding the wave of its domestic industrial technology growth. However, China’s journey towards global leadership in flow wrap packaging is still ongoing, offering immense untapped potential.
The Asia-Pacific region is set to be the fastest-growing hub in the global food packaging market. Driven by a burgeoning food and beverage industry, rapid population growth, and increasing disposable incomes, this region presents a fertile ground for packaging innovations. Notably, China is expected to lead the charge in the Asia-Pacific flow wraps market’s growth throughout the forecast period, capitalizing on the evolving consumer landscape and the surge in demand for convenient and hygienic packaging solutions. As a result, China is poised to further solidify its position as a dynamic force in the global packaging arena.
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End users are considering cold seal packaging for flow wraps as it increases the processing speed, fast the ramp up and ramp down times and ensures less product damage. Cold seal flow wrap packaging results in almost two times less line speed compared to traditional heal seal flow wraps. As per Sonoco Products Company, cold seal flow wrap pack 300-1000 flow wraps per minute whereas heat seal flow wrap limits to 150-400 flow wraps per minute.
Key Takeaways from Flow Wraps Market
· Plastic is the most used material segment for manufacturing flow wraps and it holds a market share of 2/3rd of the total flow wraps industry. The same segment is estimated to create an incremental opportunity of US$ 12 Bn during the forecast period.
· Flow wraps in the food and beverage industry is estimated to increase 1.5x in the next decade due to increasing consumption of bakery and confectionery products among youngsters.
· China’s flow wraps industry projected to register a CAGR of 5.5% during the forecast period (2022-2032).
“Due to high competition in the global flow wrap market, manufacturers are eying on inclusion of new technologies and materials that will result in sustainable packaging. Cold seal flow wrap packaging is expected to be next normal of packaging industry boost the processing speed of packaging activities and revenue growth in the flow wrap market”- says FMI Analyst.
Flow Wraps Market Landscape
Some of the leading players included in the Flow Wraps industry are players like
- Amcor PLC,
- Constantia Flexibles Group GmbH,
- Berry Global Group, Inc.,
- Huhtamäki Oyj,
- Sonoco Products Company,
- Huhtamaki Oyj,
- Sealed Air Corporation,
- Mondi Group,
- DS Smith Plc,
- CCL Industries Inc.,
- Uflex Ltd.,
- Winpak Ltd.,
- Rengo Co. Ltd.,
- Glenroy, Inc.,
- Schur Flexibles Group,
- ProAmpac LLC,
- Goglio Group,
- Bischof & Klein GmbH & Co. KG,
- Clondalkin Group Holdings B.V.,
- Coveris Holdings S.A.,
- Interflex Group Inc.
The Growing Popularity of Flow Wraps
The Flow Wraps industry has experienced substantial growth over the past decade. This surge in popularity can be attributed to several factors, such as:
- Increased Demand for Convenience: Flow wraps offer easy-to-open and resealable packaging, providing consumers with convenience and preserving the freshness of the product.
- Cost-Effective Solution: Flow wraps are cost-effective compared to other packaging methods, making them an attractive option for businesses looking to optimize their packaging expenses.
- Versatility: Flow wrap machines can handle various products, including snacks, bakery items, chocolates, pharmaceuticals, and non-food items, making them suitable for a wide range of industries.
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Flow Wraps industry By Category
By Material Type:
- Plastic Flow Wraps
- Paper Flow Wraps
By Thickness Type:
- Up to 25 Microns
- 26-40 Microns
- 41-60 Microns
- Above 60 Microns
By End Use:
- Food & Beverages
- Electrical & Electronics
- Personal Care and Cosmetics
- Home Care
- Pharmaceuticals
- Other End Use
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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