Asia-Pacific Plastic Wrap Market – Industry Trends and Forecast to 2030

Asia-Pacific Plastic Wrap Market Analysis and Size

Increasing penetration of e-retail is a major factor which is likely to enhance the market growth globally. Moreover, the demand for the packaged will grow because the world population is anticipated to surge from 7.3 billion in 2015 to 9.7 billion in 2050, which is projected to increase the demand for plastic packaging such as plastic wrap. Furthermore, “polyethylene (PE)” is expected to be the fastest growing material segment because it is becoming popular as a substitute of PVC owing to the increasing environmental concerns with the chloride which has associated with PVC plastic wrap.

Data Bridge Market Research analyses that the plastic wrap market is expected to reach USD 9,643.13 million by 2030, which is USD 6,428.24 million in 2022, registering a CAGR of 5.20% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Asia-Pacific Plastic Wrap Market Scope and Segmentation

Market Definition

A plastic wrap is a plastic-based packaging product that use to store and transport products. This packaging commonly made by recycled kraft paper, or parchment paper. Mechanical and chemical procedures are used to create specific weight and colour of plastic wrap. Plastic wrap is normally used into the food industry. It is also known as saran wrap, food wrap, cling film which is used to secure food products by sealing them in a containers to keep hygienic and fresh.

Asia-Pacific Plastic Wrap Market Dynamics

Drivers

• Growth and expansion of e-commerce sector

The robust growth and expansion of the e-commerce sector is expected to drive the market's growth rate during the forecast period. E-commerce companies prefer flexible and lightweight packaging solutions to decrease the cost of the product transportation. The increasing online shopping for daily fresh foods, electronic gadgets, FMCG products as well as clothing is expected to shoot the demand for the plastic wrap in the market.

• Growing adoption of packaged product all over the globe

There are various factors for the growth and development of the market such as need for the packaging of drug and food. Other driving factors for the adoption of this packaging include agricultural and consumer products that focus on plastic films. The rapid growth in demand and consumption of packaged food worldwide owing to the increasing salaried population in the market is further increasing the adoption of packaged product sales revenue. Plastic wraps films are used in the packing of various products such as cosmetics wrapping, sunscreen, dish and laundry detergents, household cleaners and personal care products, this will also drive the market growth.

Opportunities

• Increasing demand for stretch film

The increasing demand for stretch film dominated the growth of the global market owing to augmented demand for load stability and product protection. Moreover, the stretch film allows the maintenance of stack-shaped loads that cannot be loaded in a straight square configuration. For instance, Coveris has improved stretch film's production capability and strengthened the technical capabilities at the 5-layer Agri extrusion line in the Austria. This organization advances and extends the plastic wrap volume with this extension. Therefore, increasing demand for stretch film will likely to generate lucrative and ample opportunities for the market growth during the forecast period.

Restraints/ Challenges

• Multiple issues associated with plastic wrap market

The increasing concern regarding the environment will decrease the demand for plastic wrap across the world owing to increasing pollution for the usage of across the globe which will hamper the growth of plastic wrap market. Moreover, the high cost of raw materials used to produce plastic wrap will also act as a major restraint factor for the market growth during the forecast period.

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.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2022, Coveris, UK-based packaging manufacturer and British chemical group Ineos launched lightweight stretch films containing a minimum 30 percent recycled content. Coveris with Ineos even testing the film for use at its Grangemouth, Scotland operation.
• In 2021, Revolution, a leading manufacturer of sustainable materials, acquired Five Points Films. With this acquisition, Revolution strengthened its position in global market and broaden its environmentally-friendly product offering and sustainable-loop manufacturing capabilities.
• In 2020, Amcor collaborated with Nestle to introduce recyclable and flexible retort pouches in market that will help to increase the ecological footprint of customer packaging up to 60%. This new pouch meets the guidelines related to packaging for a circular economy which the CEFLEX Consortium published.
• In 2020, Amcor started its partnership with Espoma Organic to make more ecological packaging solutions and introduce a novel bio-based polymer package. The polyethylene (P.E.) film contains around 25 percent of bio-based material.

Asia-Pacific 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 Asia-Pacific plastic wrap market report are Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific.

China dominates the Asia-Pacific plastic wrap market in terms of market share and revenue. This is mainly owing widespread growth in the demand of packaged food products and improvement in exporting capabilities in this region. China leads the market due to high consumption and production of stretch films globally. The growth is mainly accounted for owing to increasing business growth and customer awareness regarding these plastic wraps 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 Asia-Pacific 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, Asia-Pacific 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)
• Natural Value Inc. (U.S.)
• Coveris (U.K.)
• Shenzhen Chengxing Packing & Material Co.Ltd (China)
• Four Star Plastics (U.S.)
• AMERICAN MANUFACTURE COMPANY (U.S.)
• The Clorox Company (U.S.)
• Polyvinyl Films, Inc (U.S.)
• ChicWrap (U.S.)
• ECPlaza Network Inc (China)
• Shenzhen Bull New Material Technology Co., Ltd (China)
• SHENZHEN XINTENG PACKAGING CO., LIMITED (China)
• Reynolds Consumer Products (U.S.)
• XINJIANG RIVAL TECH CO.LTD (China)
• Berry Asia-Pacific Inc (U.S.)

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