The global box and carton overwrap films market is expected to experience a compound annual growth rate (CAGR) of 3.5% during the forecast period, according to analysis by FMI (Future Market Insights). The market size is projected to grow from US$ 12.2 billion in 2023 to US$ 17.1 billion by the end of 2033.
Box and carton overwrap films play a crucial role in protecting products during transportation, safeguarding them against rough handling and accidents. The market is driven by the growing e-commerce sector and offline sales, as these industries require reliable packaging solutions to ensure the safe delivery of products.
Box and carton overwrap films find extensive applications across various packaging formats in industries such as cosmetics, logistics, food and beverages, tobacco, and others, contributing to the overall market growth. These films also enhance the visual appeal of the package and contribute to the product’s brand value through high-quality printability.
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The increasing demand for biodegradable and recyclable packaging solutions is also driving the adoption of box and carton overwrap films among end users. This trend is a response to the growing concern for sustainable packaging options. The utilization of fertilizers and chemicals further expands the application scope of box and carton overwrap films. Moreover, the wide applications of these films in the food and beverage industry offer additional growth prospects for the market.
Overall, the box and carton overwrap films industry is expected to witness steady growth driven by factors such as the rise of e-commerce, increased demand for sustainable packaging, and the diverse applications of these films across various industries.
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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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.
Market participants in the global box and carton overwrap films industry include
- Terichem A.S.
- CCL Industries, Inc.
- Jindal Poly films Ltd.
- Taghleef Industries LLC
- Cosmo Films Ltd.
- Uflex Ltd.
- Smurfit Kappa Group plc
- Futamura Group
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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 Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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