According to FMI’s analysis, the global box and carton overwrap films market is expected to exhibit a compound annual growth rate (CAGR) of 3.5% over the forecast period. The market size is projected to increase from US$12.2 billion in 2023 to US$17.1 billion by the end of 2033.
Box and carton overwrap films play a crucial role in protecting products during transportation, safeguarding them against rough handling and accidents. The growing e-commerce sector and offline sales are expected to drive the demand for box and carton overwrap films. These films find extensive application across various packaging formats in industries such as cosmetics, logistics, food and beverages, tobacco, and others, contributing to market growth. Box and carton overwrap films also enhance the brand value of products with high-quality printability. Even without any printing, box films improve the overall appearance of the package.
The increasing demand for biodegradable and recyclable packaging solutions is further driving the adoption of box and carton overwrap films among end users. The growing use of fertilizers and chemicals also expands the application scope of these films. Additionally, the wide range of applications in the food and beverage industry is expected to provide further growth opportunities for the box and carton overwrap films market.
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Overall, the box and carton overwrap films market is poised for growth, driven by factors such as the rise of e-commerce and offline sales, extensive applications in various industries, the need for high-quality printability, increasing demand for sustainable packaging solutions, and the expanding use in the food and beverage sector.
Key Highlights of the Box and Carton Overwrap Films Market:
- The China box and carton overwrap films industry is expected to lead the overall market over the forecast period. The market is estimated to reach US$ 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.
- 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.
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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
Regional Outlook:
The Asia Pacific excluding Japan region, with a particular focus on China and India, is projected to generate heavy demand for box and carton overwrap films. China is expected to dominate the global market, reaching a valuation of US$ 3.7 billion by 2033, driven by the growth of industries such as food, beverage, tobacco, and cosmetics. India, on the other hand, is projected to be the second leading market in the region, with a valuation of US$ 1.5 billion by 2033, fueled by the robust growth of the pharmaceutical industry. In Europe, Germany is expected to be a significant market for box and carton overwrap films, with a projected valuation of US$ 1.1 billion by 2033, driven by the extensive applications in the food and beverage industry
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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
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