The box and carton overwrap films market is currently valued at USD 12.2 billion in 2023 and is expected to reach USD 17.1 billion by 2033, with a CAGR of 3.5% over the forecast period. The Asia Pacific region, particularly China, is set to be a key driver, with the Chinese market alone estimated to reach USD 3.7 billion by 2023.
Core Concepts in Global Box and Carton Overwrap Films Market
- Current Market Valuation: The box and carton overwrap films market is valued at US$ 12.2 billion in 2023.
- Growth Potential: The market is expected to grow at a compound annual growth rate (CAGR) of 3.5% through 2033.
- Sales Drivers:
Increasing Online Shopping: The rise in e-commerce and online shopping is significantly boosting the demand for box and carton overwrap films.
Stringent Regulations for Plastic Films: Regulatory measures aimed at reducing plastic waste are promoting the use of more sustainable and efficient packaging solutions, including overwrap films.
Key Trends:
Focus on Brand Value: Companies are increasingly focusing on developing and enhancing brand value, which is driving the adoption of high-quality overwrap films that can improve product presentation and protection.
Several growth factors are fueling this industry:
- Increasing demand from food, beverage, and pharmaceutical sectors.
- The convenience and sanitization benefits of overwrap films for outer packaging.
- The films’ role in promoting and marketing products.
- The use of overwrap films to protect products during transportation across different industries.
Key Market Players:
Terichem A.S., CCL Industries, Inc., Jindal Poly Films Ltd.
Key Growth Drivers
- Rising Demand from Key Sectors: The increasing need for effective packaging solutions in the food, beverage, and pharmaceutical industries is a primary driver for the market. Overwrap films provide enhanced protection, extending the shelf life of products and maintaining their quality during transit and storage.
- Sanitization and Protection: The growing emphasis on sanitization has led to an increased use of overwrap films, which offer consumers added assurance of hygiene by protecting outer packaging from contamination.
- Marketing and Promotion: Overwrap films are increasingly utilized for their aesthetic appeal and marketing advantages, allowing brands to promote their products effectively through visually appealing packaging.
- Transportation Safety: Overwrap films help prevent damage during transportation, which is crucial for maintaining the integrity of products across various sectors. This feature is expected to drive continued use in diverse manufacturing domains.
Multiple Drivers Fueling Expansion
- Demand for Box and Carton Packaging: The rising popularity of box and carton packaging solutions across food, beverage, pharmaceutical, and other sectors is a key driver.
- Enhanced Sanitation and Convenience: Overwrap films offer consumers the ease of cleaning the outer packaging, addressing hygiene concerns in today’s world.
- Marketing and Branding: Manufacturers are increasingly utilizing overwrap films for product promotion and brand building, creating visually appealing packaging.
- Product Protection: To ensure product integrity during transportation, manufacturers across various domains rely on box and carton overwrap films for protection.
E-commerce and Branding: Shaping the Future
The booming e-commerce sector is further propelling the use of box and carton overwrap films. As online purchases surge, the need for secure and visually appealing packaging becomes paramount.
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.
Access Full Report:
Box and Carton Overwrap Films Market 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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