Global Plastic Wrap Market, By Type (Stretch Films, Shrink Films, Metallized Films, Twist Film, Release Film, Twist Rope, Others), Material (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Ethylene, Vinyl Alcohol Copolymer (EVOH), Ethylene-Vinyl Acetate (EVA), Nylon, Others), Feature (Moisture Proof, Water Soluble), Processing Type (Casting, Multiple Extrusion, Blow Molding, Injection Molding), Transparency (Transparent, Translucent, Opaque), Hardness (Soft and Rigid), Distribution Channel (E-commerce, Convenience Store, Retail Stores, Supermarket/Hypermarket, Others), End-User (Food and Beverages, Pharmaceuticals, Personal Care and Cosmetics, Chemical, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Globally, the packaged food and beverage industry has been experiencing vigorous growth for the past several years. Improving lifestyle, growing population, increasing economic activities, emerging countries and increasing penetration of e-retail overall the world are a few factors driving the global packaged food industry. Plastic is an advantageous packaging material because of its low cost and high printability. In the United States, the extrusion technology industry is predicted to grow rapidly. The majority of customer as well as industrial applications in the country use extrusion-based products, such as wraps. The great dispersion of planned retail around the country has also contributed significantly to the country's market growth.
Data Bridge Market Research analyses that the plastic wrap market was valued at USD 10850.5 million in 2021 and is expected to reach USD 14622.73 million by 2029, registering a CAGR of 3.80 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Market Definition
Plastic wrap is a type of packaging that people use to store and transport items. It's usually constructed of recycled, Kraft, or parchment paper, and it goes through a variety of mechanical and chemical processes to achieve the desired weight and colour. Multiwall paper sacks, flat paper, and handled bags are some of the most common types of plastic wrap on the market. In contrast to plastic wraps, these wraps are recyclable, sturdy, lightweight, and highly customizable to meet customers' individual needs.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Stretch Films, Shrink Films, Metallized Films, Twist Film, Release Film, Twist Rope, Others), Material (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Ethylene, Vinyl Alcohol Copolymer (EVOH), Ethylene-Vinyl Acetate (EVA), Nylon, Others), Feature (Moisture Proof, Water Soluble), Processing Type (Casting, Multiple Extrusion, Blow Molding, Injection Molding), Transparency (Transparent, Translucent, Opaque), Hardness (Soft and Rigid), Distribution Channel (E-commerce, Convenience Store, Retail Stores, Supermarket/Hypermarket, Others), End-User (Food & Beverages, Pharmaceuticals, Personal Care and Cosmetics, Chemical, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Polywrap India (India), AVPack Plastic Manufacturers (South Africa), Suzhou Yuxinhong Plastic Packaging Co., Ltd. (China), Coveris (UK), Shenzhen Chengxing Packing & Material Co.Ltd (China), Four Star Plastics (US), AMERICAN Mfg COMPANY (US), The Clorox Company (US), Polyvinyl Films, Inc (US), ChicWrap (US), ECPlaza Network Inc (China), Shenzhen Bull New Material Technology Co., Ltd (China), SHENZHEN XINTENG PACKAGING CO., LIMITED (China), Reynolds Consumer Products (US), XINJIANG RIVAL TECH CO.,LTD and Berry Global Inc (US)
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Market Opportunities
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Plastic Wrap Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growth in packaging advancement to the end consumers
The development in packaging advancement to improve the food offering to the end customers is expected to drive growth. Plastic wrap preserves the food for contamination and from the bacteria.
- Growing packaged product adoption
The fast increase of packaged food demand and consumption globally on account of the growing paid population in the international market is additional increasing the need for packaged products sales revenue. The various plastic films use in items such as, personal care products, sunscreen, cosmetics wrapping, dish and laundry detergents and household cleaners will drive the industry.
- Rising environmental concern worldwide
Due to the COVID-19 pandemic, the global sector has been broadly modified due to the increased use of plastic wraps. Plastics and recycled technologies would provide the companies with new growth opportunities. An increase in energy-efficient technology demand from plastic wrap producers and increasing demand from packaging firms for biodegradable plastic packaging materials are other favorable factors that will drive the plastic wrap industry.
- Consumers demand and wrapping solutions
Many estimates claim some features like sustainability, counterfeit protection, flexibility, efficiency, convenience and traceability while involving all these parameters with a minimum price. Plastic wrap is regarded a demand for new clients, and future markets must be anticipated.
Opportunities
- Rise in product innovations
The increasing number of product innovations will boost new market opportunities for the market's growth rate. Various product advancements targeted at improving design and manufacturing processes also aid market expansion. Manufacturers are working on more efficient, reliable, and convenient goods.
- Growing biodegradable plastics acceptance
Demand of biodegradable plastic has increase due to environmental concern. Biodegradable plastic packaging materials are the most favorable factors expected to create new growth opportunities because increase in the consumption of biodegradable plastic wrap in the global market
Restraints/ Challenges
The increasing environmental concern across the world will decrease the scope of plastic wrap due to increased plastic pollution across the globe, hindering the plastic wrap market growth rate. The supply chain and high cost of raw materials will also act as market restraint and further challenge the market growth rate. These are the major market restraints that will obstruct the market's growth rate.
This plastic wrap market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plastic wrap market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Plastic Wrap Market
The requirement for plastic wrap is predicted to boost in the coming years as a temporary growth due to the occurrence of the COVID-19 virus. There has been an increase the demand of plastic wrap products to preserve various food and other products. Despite these unexpected changes in consumption trends, the analysis tends to be incremental during the forecast period.
In the midst of the pandemic, worldwide food and beverage items are predicted to rise, driving the global plastic wrap market throughout the forecast period.
Recent Development
- In June 2020, Amcor partnered with Espoma Organic to innovate more ecological packaging and introduce a new bio-based polymer package. The polyethylene (PE) film consists 25% bio-based material.
- In September 2020, Amcor merged with Nestle to introduce recyclable flexible retort pouches in market that will improve the ecological footprint of customer packaging by up to 60%, starting with wet cat food. The new pouch meets the circular economy packaging guidelines, which the CEFLEX Consortium recently published.
Global Plastic Wrap Market Scope
The plastic wrap market is segmented on the basis of types, materials, feature, processing type, transparency, hardness, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Stretch Films
- Shrink Films
- Metallized Films
- Twist Film
- Release Film
- Twist Rope
- Others
Material
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Ethylene Vinyl Alcohol Copolymer (EVOH)
- Ethylene-Vinyl Acetate (EVA)
- Nylon
- Others
Feature
- Moisture Proof
- Water Soluble
Processing Type
- Casting
- Multiple Extrusion
- Blow Molding
- Injection Molding
Transparency
- Transparent
- Translucent
- Opaque
Hardness
- Soft
- Rigid
Distribution Channel
- E-commerce
- Convenience Store
- Retail Stores
- Supermarket/Hypermarket
- Others
End-User
- Food and Beverages
- Pharmaceuticals
- Personal Care and Cosmetics
- Chemical
- Others
Plastic Wrap Market Regional Analysis/Insights
The plastic wrap market is analyzed and market size insights and trends are provided by country, types, materials, feature, processing type, transparency, hardness, distribution channel and end-user as referenced above.
The countries covered in the plastic wrap market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
In terms of market share and revenue, Asia-Pacific dominates the plastic wrap market and will continue to do so over the forecast period. This is due to the rising production and consumption of stretch films is huge which is mainly made of plastic wrap also, rising business growth and awareness among the consumers has raised the demand of these films. in this region. The Asia-Pacific region dominates the plastic wrap market, with China leading the way in terms of production and consumption of re-usable plastic wrap. Due of the ease of producing re-usable plastic wrap, China is leading the Asia-Pacific market.
During the projected period, North America is expected to be the fastest developing region due to the rising demand of re-usable plastic wrap in retail sector in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plastic Wrap Market Share Analysis
The plastic wrap market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plastic wrap market.
Some of the major players operating in the plastic wrap market are:
- PolyWrap India (India)
- AVPack Plastic Manufacturers (South Africa)
- Suzhou Yuxinhong Plastic Packaging Co., Ltd. (China)
- Coveris (UK)
- Shenzhen Chengxing Packing & Material Co.Ltd (China)
- Four Star Plastics (US)
- AMERICAN Mfg COMPANY (US)
- The Clorox Company (US)
- Polyvinyl Films, Inc (US)
- ChicWrap (US)
- ECPlaza Network Inc (China)
- Shenzhen Bull New Material Technology Co., Ltd (China)
- SHENZHEN XINTENG PACKAGING CO., LIMITED (China)
- Reynolds Consumer Products (US)
- XINJIANG RIVAL TECH CO.LTD (China)
- Berry Global Inc (US)
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