Box and Carton Overwrap Films Market: Projected to Soar to US$ 17.1 Billion by 2033, Fueled by Growing Packaging Demands

Valued at US$ 12.2 billion in 2023, the box and carton overwrap films market anticipates significant growth, with projections reaching US$ 17.1 billion by 2033. The market is poised to exhibit a steady Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2033. This forecast underscores the increasing demand for effective packaging solutions in various industries, driven by factors such as product protection, sustainability, and the need for visually appealing packaging. The market’s trajectory reflects its pivotal role in meeting evolving consumer preferences and industry requirements, contributing to its sustained prominence in the global packaging landscape.

Box and carton overwrap films safeguard the product during transport against rough handling and accidents. The rising e-commerce sector and offline sales are projected to boost the box and carton overwrap films industry. Extensive application of box and carton overwrap films across various packaging formats in cosmetics, logistics, food and beverages, tobacco, and other industries, is fueling the market growth. Box and carton overwrap films also help develop the product’s brand value with high-quality printability. Even without any print, box films help enhance the overall look of the package.

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The growing demand for biodegradable and recyclable packaging solutions is also boosting its adoption among end users. Increasing utilization of fertilizers and chemicals further enhances the application scope of box and carton overwrap films. In addition, wide applications of the product in the food and beverage industry are expected to offer more growth prospects for the box and carton overwrap films industry.

Market Drivers:

1. Growing Packaging Industry: The global packaging industry has been experiencing significant growth, driven by factors such as e-commerce expansion, urbanization, and increased consumer demand for convenience.
2. Rising Demand for Sustainable Packaging: There is a growing emphasis on sustainable and eco-friendly packaging solutions. Overwrap films that are recyclable, biodegradable, or made from renewable sources are gaining traction in response to environmental concerns.
3. Increasing Consumer Awareness: Consumers are becoming more conscious of the environmental impact of packaging materials. This awareness has led to a demand for packaging solutions that minimize waste and have a lower carbon footprint.
4. Technological Advancements: Innovations in packaging technologies, including materials and manufacturing processes, contribute to the development of more efficient and cost-effective overwrap films. These advancements can enhance product protection, shelf life, and visual appeal.
5. E-commerce Growth: With the rise of e-commerce, there is an increased need for protective and visually appealing packaging for shipped goods. Overwrap films play a crucial role in ensuring the integrity of products during transportation and storage.

Market Restraints:

1. Environmental Concerns: While there is a demand for sustainable packaging, some overwrap films may still contribute to environmental issues, particularly if they are not easily recyclable or made from eco-friendly materials.
2. Regulatory Challenges: Stringent regulations related to packaging materials, especially those aimed at reducing single-use plastics, can pose challenges for manufacturers in the box and carton overwrap films market.
3. Raw Material Price Volatility: Fluctuations in the prices of raw materials, such as polymers, can impact the production costs of overwrap films, influencing the overall pricing and profitability of manufacturers.
4. Competition from Alternative Packaging Solutions: The market faces competition from alternative packaging solutions, such as flexible pouches or containers, which may offer different benefits and cater to specific consumer preferences.
5. Supply Chain Disruptions: Disruptions in the supply chain, whether due to natural disasters, geopolitical events, or other unforeseen circumstances, can impact the availability of raw materials and the production of overwrap films.

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%.

Key Manufacturers-

•  Terichem A.S.,
• CCL Industries, Inc.,
• Jindal Poly films Ltd.,
• Taghleef Industries LLC,
• Cosmo Films Ltd.,
• Uflex Ltd.,
• Smurfit Kappa Group plc,
• Futamura Group,
• Irplast S.p.A.,
• SIBUR International GmbH,
• Berry Global Inc.,
• Transcendia Inc.,
• Garware Polyester Limited,
• Industrial Development Company sal (Indevco)

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.

Growth Factors for Box and Carton Overwrap Films Industry

• The growing demand for box and carton packaging solutions from food, beverage, pharmaceutical, and other end uses, is projected to propel market growth.
• The ease aids the increasing demand for overwrap or lamination films the films offer consumers in sanitizing the outer packaging.
• The surging application of box and carton overwrap films for promoting and marketing the product is boosting the application of these films.
• To avoid any damage during transportation, manufacturers of various domains are projected to continue using cartons and box overwrap films to protect their products.

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Key Segmentations-

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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