Set to witness significant growth, the twist wrap packaging market is expected to achieve a 5.1% Compound Annual Growth Rate (CAGR) from 2022 to 2032, escalating from US$ 355.60 billion in 2022 to a projected US$ 584.77 billion by 2032. This upward trajectory is driven by factors such as the versatility of twist wrap packaging across various industries and the increasing consumer preference for convenient and attractive packaging solutions. As the market adapts to changing preferences and demands, it positions itself for sustained expansion, showcasing resilience and potential for innovation in the dynamic landscape of packaging.
Elevating consumer preference is a primary driver propelling the growth of the twist wrap packaging market. The market is further boosted by the exceptional twist retention quality inherent in this type of packaging. Notably, twist wraps crafted from a combination of aluminum and wax paper are gaining traction, creating opportunities for heightened sales and expanding the market’s reach. The surge in demand reflects the enduring appeal of twist wrap packaging, as it continues to meet evolving consumer expectations for both convenience and quality in the ever-evolving landscape of packaging solutions.
With a surge in the young generation’s preference for confectionaries, the Asia Pacific region is poised to experience the highest compound annual growth rate (CAGR) in the forecast period for the global twist wrap packaging market. Simultaneously, above-average growth is anticipated in Latin America and the Middle East & Africa, as these regions emerge as key contributors to the expanding landscape of the twist wrap packaging market. This trend signifies a global shift towards embracing innovative and visually appealing packaging solutions, aligning with changing consumer dynamics and preferences in diverse regions around the world.
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The company that manufactures twist wrap packaging recently announced the inauguration of its Technical Solutions Center in Europe. The one-stop shop satisfies the technical support requirements of the company’s growing clientele in Europe and demonstrates its ongoing dedication to the European twist wrap packaging sector.
A new manufacturing line for floatable polyolefin shrink sleeve films, which enable bottle-to-bottle circularity for PET beverage bottles and other containers, is being substantially invested in by the world leader in speciality label films at its new Films facility. These films are verified compatible with the container recycling process, have a high shrinkage rate, and a lovely sheen.
Key Benefits for Twist Wrap Packaging Market:
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries in each region have been mapped according to their individual revenue contribution to the global market.
- It outlines the current trends and future scenario of the market from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
- The profiles of key players along with their key strategic developments are enlisted in the report.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
Key players
Few of the key players in the twist wrap packaging market are
- Exxon Mobil Corp,
- Clondalkin Group Holdings B.V.,
- TOPAS Advanced Polymers GmbH,
- Catty Corporation,
- Elif Plastik Ambalaj San. ve Tic. A.?.,
- Stratex Group Limited,
- Swiss Pack U.K.,
- Foil Packaging Pvt Ltd,
- Multifilm Packaging Corporation,
- Ester Industries Ltd.,
- BPM Inc.,
- Varipack AG,
- Polysack Flexible Packaging Ltd., etc.
Key Market Drivers-
- Confectionery Industry Growth : The confectionery industry’s continual growth drives the demand for twist wrap packaging, as it is a popular choice for packaging chocolates, candies, and other sweets.
- Aesthetic Appeal : Twist wrap packaging offers an attractive and visually appealing presentation for confectionery products, contributing to their desirability on store shelves.
- Product Protection : Twist wrap packaging provides protection for delicate and perishable confectionery items, ensuring product freshness and quality.
- Portion Control and Convenience : Twist wrap packaging allows for easy portion control and individual packaging, making it convenient for consumers and enhancing the eating experience.
- Customization and Branding : Confectionery manufacturers can use twist wrap packaging to create unique, branded designs, making their products stand out and capturing consumer attention.
- Giftability : The elegant and decorative nature of twist wrap packaging makes it a popular choice for gift-giving, especially during holidays and special occasions.
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Market Segmentations
The global twist wrap packaging market can be segmented by the raw material type, by product type, and by end user base.
On the basis of raw material type
- Plastic
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Cellophane
- Others
- Wax Paper
- Aluminium
- Others
On the basis of application
- Gift Wraps
- Confectionary Packaging
- Candy
- Chocolate bars
- Jelly
- Others
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