The global box and carton overwrap films market is predicted to register a CAGR of 3.5% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 12.2 billion in 2023 to US$ 17.1 billion by 2033 end.
Box and carton overwrap films safeguard the product during transport against rough handling and accidents. The rising e-commerce sector and offline sales are projected to boost the box and carton overwrap films industry. Extensive application of box and carton overwrap films across various packaging formats in cosmetics, logistics, food and beverages, tobacco, and other industries, is fueling the market growth. Box and carton overwrap films also help develop the product’s brand value with high-quality printability. Even without any print, box films help enhance the overall look of the package.
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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 box and carton overwrap films industry.
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%.
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.
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- 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.
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
- 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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
- Japan
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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