The global market for pallet wraps is currently valued at US$ 5.9 billion and is anticipated to grow at a CAGR of 3.8% to reach an estimated valuation of US$ 7.8 billion by 2029. In 2021, the revenue from sales of pallet wraps was 2% of the total market revenue for films. The need for reusable pallet wraps is anticipated to significantly increase over the next several years as a result of shifting packaging habits. Black pallet wraps and pallet shrink wraps have both shown a noticeable rise in demand over time, and it is predicted that this trend will continue through 2029.
Pallet wraps are used to wrap goods before they are placed on a pallet. These wraps are specific wrapping machines used in the handling and picking of pallet loads varying in weight and height. Packaging products are tightly wrapped in order to keep goods in one position for the duration of shipment. The growing popularity of these wraps is expected to increase sales growth of the global pallet wraps market in the coming years. The increasing focus on lightweight packaging solutions is projected to boost the sales growth of the global Pallet Wraps market during the forecast period set between 2021 and 2031.
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Competitive Landscape
Pallet wrap suppliers are focusing on research and development of sustainable and eco-friendly pallet wraps that are climate-friendly. Pallet wrap companies are also adopting various organic and inorganic growth strategies to boost pallet wrap sales on a global level.
In January 2022, Cortec a leading environment-friendly solutions provider announced the launch of the world’s first biodegradable stretch film. The Eco Wrap stretch film received ‘OK compost INDUSTRIAL’ from TUV Austria in November.
Intertape Polymer Group Inc.
Berry Global Inc.
Scientex Berhad
Aep Industries Inc.
Sigma Stretch Film Corp.
Coveris
Rosenflex (U.K.) Limited
Polifilm GmbH
Anchor Packaging Inc.
Paragon Films Inc.
Demand Analysis of Pallet Wraps (2014 to 2021) Vs Market Predictions (2022 to 2029)
Demand for packaging has evolved exponentially over the past years and this is due to an increase in demand for packaged food and increasing demand for goods from e-commerce channels. Heavy-duty pallet wraps, handy wraps, pallet shrink wraps, coloured pallet wraps, black pallet wraps, industrial pallet wraps, eco-friendly pallet wraps, etc. are some products that are expected to have a bright outlook over the forecast period.
Rising focus on packaging, increasing demand for lightweight packaging solutions, increasing technological proliferation, changing requirements of in-transit packaging mandates, rapidly expanding logistics industry, and rising demand for eco-friendly pallet wraps are some major trends that are anticipated to drive pallet wrap sales.
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Which Regions Should Pallet Wrap Suppliers Focus On?
This global pallet wraps industry analysis provides detailed insights across multiple geographies such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
Demand for pallet wraps in North America is expected to see a steady rise over the forecast period. The rise in demand can be attributed to changing packaging trends in the region and an increase in e-commerce sales due to the rising popularity of online shopping channels.
Pallet wraps sales in Europe are expected to account for a significant market share over the forecast period. Consumption of pallet wraps in this region is expected to be majorly influenced by the presence of key pallet wrap companies.
Key Segments of Pallet Wraps Industry Survey
Pallet Wraps Market by Thickness:
45 mm Pallet Wraps
Pallet Wraps Market by Product:
Hand Wrap Rolls
Machine Rolls
Pallet Wraps Market by Film:
Blown Film Pallet Wraps
Cast Film Pallet Wraps
Pallet Wraps Market by Material:
Polyethylene Pallet Wraps
LLDPE
LDPE
HDPE
Polyethylene Pallet Wraps
Polypropylene Pallet Wraps
Polyethylene Terephthalate Pallet Wraps
Polyamide Pallet Wraps
PVdC Pallet Wraps
Pallet Wraps Market by End Use:
Pallet Wraps for Food & Beverages
Pallet Wraps for Pharmaceuticals
Pallet Wraps for Chemicals & Fertilizers
Pallet Wraps for Personal Care & Cosmetics
Pallet Wraps for Consumer Goods
Pallet Wraps for Automotive
Pallet Wraps for Electrical & Electronics
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Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Analysis and Recommendations
1.3. Wheel of Opportunity
2. Market Overview
2.1. Market Definition
2.2. Market Taxonomy
3. Global Pallet Wraps Market Demand Analysis 2014-2021 and Forecast, 2022-2029
3.1. Historical Market Volume (Tonnes) Analysis, 2014-2021
3.2. Current and Future Market Volume (Tonnes) Projections, 2022-2029
3.3. Y-o-Y Growth Trend Analysis
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[06-01 15:35] Shilpa Banerjee
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