The market for box and carton overwrap films market share was projected to be valued USD 11.74 billion in 2022. Between 2023 and 2030, it is projected to grow at a compound annual growth rate (CAGR) of 3.8%, reaching a valuation of USD 15.82 billion.
The production and use of films designed specifically for cartons and packaging boxes are included in this industry. The demand for these films is probably going to keep rising because they offer protection, better product visibility, and tamper-evident packaging.
Adoption of box and carton overwrap films has become critical for different industries, including consumer products, food and beverage, and medicines, as a result of the growing emphasis on product safety and quality. These coatings have superior barrier qualities, keeping out dust, moisture, and other contaminants from affecting the packaged products.
Furthermore, the rising e-commerce sector and the subsequent surge in online shopping have significantly contributed to the demand for box and carton overwrap films. As more products are being shipped and delivered, the need for secure and visually appealing packaging has become paramount.
In terms of geographical analysis, North America currently holds a significant share in the box and carton overwrap film market. This can be attributed to the region's well-established packaging industry and the presence of major market players. However, Asia Pacific is expected to witness substantial growth during the forecast period, driven by the rapid expansion of various end-use industries and the increasing disposable income of consumers.
To capitalize on the growing market opportunities, key players in the box and carton overwrap film industry are focusing on product innovation and strategic collaborations. They are investing in research and development activities to introduce advanced films that offer enhanced functionality and sustainability.
In conclusion, the box and carton overwrap film market is poised for steady growth in the coming years.
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KEY MARKET SEGMENTATION
By Material
· PP
· PVC
· PET
· PE
· Others
ByFilm Type
· Strech Film
· Shrink Film
By Film Thickness
· Less Than 20 microns
· 20-40 microns
· More Than 40 microns
By Coating Type
· Coated Films
· Uncoated Films
By Sales Channel
· Converter Sales
· Brand Owner Sales
By End Use
· Food
· Beverage
· Automotive
· Shipping Logistics
· Healthcare
· Personal Care Cosmetics
· Industrial Packaging
· Electrical Electronics
· Others
Key Players
Some major key playersin the Box And Carton Overwrap Film market areInnovia Films, Berry Global Inc, Cosmo Films Ltd, Uflex Ltd, CCL Industries Inc, Garware Polyester Limited, Smurfit Kappa Group plc, Jindal Poly Films Ltd, Futamura Group, Terichem ASand other players.
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