The global corrugated wraps market is anticipated to reach a market value of US$ 3,586.4 Million in 2022 and US$ 5,589.1 Million by achieving a CAGR of 4.5% in the projected period of 2022-2032.
The market for corrugated wraps is expected to grow as a result of rising e-commerce site penetration and consumer demand for green packaging. Corrugated wrap sales experienced a 3.1% CAGR over the historical period of 2016–2021.
Fruits and vegetables are kept fresh from the farm to the store thanks to corrugated packing. Corrugated wrap producers offer a variety of environmentally friendly labels manufactured from papers, post-consumer waste papers, dissolvable and re-pulp-able papers, among other materials.
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Global corrugated wraps market: Introduction
The global push for sustainable packaging and marketing solutions has led increasing awareness among consumers regarding the negative impact of certain packaging solutions on our environment. As consumer awareness continues to be on the rise, the shift toward recycled packaging and marketing solutions is expected to become conspicuous. Corrugated Packaging keeps vegetables and fruits fresh from the farm to store.
Manufacturers of corrugated wraps offer a wide range of sustainable labels made from papers, post-consumer waste papers, dissolvable and re-pulp-able papers, among others. The demand for corrugated wraps is expected to grow with the rise in the number of eco-conscious consumers, across the globe. One of the key trends observed among consumers today is a higher preference for sustainable packaging. A lot depends on consumer sentiments regarding the impact of a packaging solution on the environment. Therefore, over time, more brand owners are expected to use corrugated wraps for their products, which will increase the chances of impulse buying among eco-conscious consumers.
Corrugated wraps are manufactured using the eco-friendly material, and their production reduces the carbon footprint of the company. This is expected to boost sales of products such as corrugated wraps, at a time when there is a high demand for sustainable packaging solutions both from the supply-side and demand-side. Therefore, the outlook for the growth of the global corrugated wraps market is expected to be mostly positive during the forecast period.
Global corrugated wraps market: Dynamics
The global corrugated wraps is anticipated to grow on the backdrop of the global sustainable packaging market growth, during the next ten years, and beyond. The global corrugated wraps are manufactured using a variety of materials to suit various applications and markets. Moreover, manufacturers of corrugated wraps also offer custom services.
The global corrugated wraps market can be applied on a variety of surfaces such as that of stainless steel, metal, cardboard, and glass, among others. Corrugated wraps cater to various end-use industries such as the food & beverages industry, and personal care & cosmetics industry, among others.
Some of the key trends observed in the market are the use of soy-based inks and production of renewable paper & films with corn-based products. The growth of the global corrugated wraps market over the forecast period is hampered due to certain factors. For corrugated wraps to witness higher demand, more consumers need to be made aware regarding the advantages of sustainable packaging.
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Global corrugated wraps market: Segmentation
The global corrugated wraps market has been segmented as –
On the basis of material type, the global corrugated wraps market has been segmented as follows–
Paper
Semi-gloss/matte paper
Direct thermal paper
Vellum paper
Others
Plastic
Fibers
On the basis of end use, the global corrugated wraps market has been segmented as follows–
Schools
Retail stores
Warehouses
Restaurants
Global corrugated wraps market: Geographical Outlook
The global corrugated wraps market has been divided into seven main regions –
North America
The Asia Pacific excluding Japan (APeJ)
Latin America
The Middle East and Africa (MEA)
Western Europe
Eastern Europe
Japan
The North America corrugated wraps packaging market is expected to retain the leading position over the forecast period. This is attributed to a large eco-conscious consumer base in the region. The Western Europe region is also expected to witness sizeable demand for corrugated wraps, as brands look to make a move from conventional to sustainable packaging and labelling solutions. Growth in the APeJ region is anticipated to be gradual, during the next ten years, with India and China emerging as the hub for sustainable packaging solutions growth. The Latin America retail industry is still on the path to recovery from the effects of the recession of 2015. However, post-2020, the retail sector in the region is expected to gain momentum, resulting in more sales of packaged products with corrugated wraps.
Global corrugated wraps market: Key Market Participants
Few of the key market participants operating in the global corrugated wraps market are – Springfield Corrugated Box, Inc., Crown Technologies, Palmer Packaging, Inc., Willard Packaging Co., Antalis S.A. On Demand Packaging (Packsize), among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Report Highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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