The Australia pallet wraps market is expected to grow at a compound annual growth rate (CAGR) of 3.0% over the next ten years. From USD 361.9 million in 2023 to USD 468.1 million in 2032, the market is anticipated to have expanded. It was worth USD 350.4 million in 2022, and it is predicted to increase by 3.3% annually in 2023.
The development of mono-material wraps is expected to strengthen the market for pallet wraps in the country. Pallet wraps are used to secure and protect goods during transport and storage and are typically made of multiple layers of materials. A few of these include plastic, paper, and foil.
Pallet wraps are difficult to recycle and can contribute to environmental pollution. Mono-material pallet wraps, on the other hand, are made from a single material such as polyethylene or polypropylene and are much easier to recycle. Consumers & businesses are becoming more environmentally conscious, and are looking for packaging solutions that are both effective and environmentally friendly.
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Due to widespread consumption and strong demand, packing and transportation of goods are becoming increasingly important in today’s society. Owing to increased demand for packaging, numerous firms are working to automate their end-of-line packaging systems.
It offers increased productivity at lower prices. As a result, the government of Australia supports bio-products and environmental programs, which will benefit suppliers of pallet wrap. In the following ten years, they can create new biodegradable pallet wraps.
Pallet wrap demand has been considerably impacted by rising online retail activity and e-commerce significance in Australia. As more products are transported over longer distances, it is crucial to make sure they are transported safely. Pallet wraps give stacked pallets solidity and containment, ensuring that goods endure the lengthy transportation process undamaged.
The growing demand for pallet covers will also be influenced by the need for affordable solutions. Businesses in Australia are always looking for ways to reduce their packaging costs without sacrificing quality.
Key Takeaways:
- Based on material, the polyethylene (PE) segment held an Australia pallet wraps industry share of about 78.3% in 2022.
- The Australian pallet wraps industry is anticipated to expand 1.3 times the current value during the forecast period.
- In 2022, the top 5 pallet wrap manufacturers in Australia accounted for a collective share of 60 to 65%.
- By product type, the machine rolls segment is anticipated to create an absolute dollar opportunity of USD 80.9 million during the estimated period.
- By film, the cast film segment is likely to create an incremental opportunity of USD 83.1 million during the assessment period.
Fruit and Vegetable Ventilated Pallet Wrapping to Gain Traction in Australia:
Fruit and vegetable ventilated pallet wrapping is gaining traction in the Australian packaging sector. It offers several advantages over traditional pallet wrapping. It also allows for better airflow around the product, which can help to reduce spoilage and extend the shelf life.
By allowing for better airflow and reducing the need for excess packaging materials, ventilated pallet wrapping can help to reduce the environmental impact of packaging processes. Fresh produce is essential for human well-being.
Despite this, several adults in the country fail to meet national fresh produce consumption standards, putting their health at risk. As a result, it is critical to ensure that consumers have access to fresh, nutritious food rather than permitting it to go to waste.
Competitive Landscape:
A few of the market players featured in the report are Sealed Air Corporation, Pro-Pac Packaging Limited, Visy Boxes & More, Omni Group Pty Ltd, Great Wrap, Signet, FROMM Packaging Australia, and others. Tier 3 players in the market hold 29 to 36% of the Australian pallet wraps market share.
Pallet wrap companies in the country are focusing on optimizing their manufacturing and distribution processes to reduce costs & improve efficiency. This includes investing in automation and robotics for pallet wrapping, which can save time and labor expenses. By streamlining operations, companies can offer competitive pricing and faster turnaround times to customers.
Australia Pallet Wraps Market Outlook by Category
By Material:
- Polyethylene (PE)
- LLDPE
- LDPE
- HDPE
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyamide (PA)
- Polyvinylidene Chloride (PVDC)
By Thickness:
- < 15 mm
- 15 to 30 mm
- 31 to 45 mm
- > 45 mm
By Product Type:
- Hand Wrap Rolls
- Machine Rolls
By Film Type:
- Blown Film
- Cast Film
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals & Fertilizers
- Personal Care & Cosmetics
- Automotive
- Electrical & Electronics
- Others Industrial (Textile and Handicraft)
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