Global Plastic Wrap Market – Industry Trends and Forecast to 2031

Plastic Wrap Market Analysis and Size

The plastic wrap market has undergone a transformation with the latest advancements in technology. Innovations such as nano-engineered materials and sustainable alternatives have fueled its growth. Increased demand for convenience and food preservation solutions has also driven market expansion. Companies are investing in research to develop eco-friendly options, catering to environmentally conscious consumers and addressing concerns about plastic waste.

The global plastic wrap market size was valued at USD 11.69 billion in 2023, is projected to reach USD 15.75 billion by 2031, with a CAGR of 3.80% during the forecast period 2024 to 2031. 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.         

Report Scope and Market Segmentation       

Market Definition

Plastic wrap, also known as cling film or food wrap, is a thin, transparent film typically made of polyethylene. It's commonly used in food packaging to preserve freshness and prevent spoilage. The material is flexible, stretchable, and adheres tightly to surfaces, creating an airtight seal. It's also useful for wrapping leftovers, covering bowls, and protecting items during storage.

Plastic Wrap Market Dynamics

Drivers

• Increasing  Demand for Food Preservation

The demand for plastic wrap for food packaging is poised for growth due to its crucial role in preserving food freshness. As consumers increasingly opt for convenience and ready-to-eat meals, plastic wrap serves as a reliable solution, offering a protective barrier against moisture, air, and contaminants. For instance, in the busy urban lifestyle, pre-cut fruits and vegetables packaged with plastic wrap provide convenience without compromising on freshness, driving market expansion.

• Rising Hygiene and Safety Concern

With rising concerns regarding food safety, plastic wrap emerges as a pivotal solution, safeguarding food from contaminants such as dust, insects, and bacteria. This heightened awareness propels the demand for reliable packaging options, fueling the plastic wrap market's growth. For instance, in the catering industry, where maintaining food hygiene during transportation is crucial, the use of plastic wrap ensures the integrity and safety of the food, meeting stringent health standards and consumer expectations.

Opportunities

• Extended Shelf Life

Plastic wrap's capacity to shield perishable food items such as fruits, vegetables, and meat products from moisture loss and oxidation extends their shelf life, meeting the demands of both retail and foodservice sectors. This preservation capability drives market growth as consumers seek longer-lasting freshness. For instance, supermarkets globally utilize plastic wrap to maintain the quality and freshness of produce, catering to customer preferences for high-quality, longer-lasting food items.

• Increasing E-commerce and Retail Trends

The surge in e-commerce and online grocery shopping has fueled demand for packaging that is both durable and lightweight. Plastic wrap emerges as a preferred choice, meeting these requirements effectively. Its versatility in wrapping various food items ensures secure transport and convenient handling. For instance, major online retailers now rely on plastic wrap to securely package fresh produce, meats, and prepared meals, optimizing both delivery efficiency and customer satisfaction, thus driving market growth.

Restraints/Challenges

• Shift Towards Sustainable Alternatives

The growing consumer preference for eco-friendly and biodegradable packaging options presents a formidable challenge to the traditional plastic wrap market. This shift underscores the diminishing appeal of conventional plastic wraps, leading to a decline in market demand. As environmental concerns continue to drive consumer choices, the plastic wrap market faces substantial hurdles in maintaining its relevance and profitability.

• Supply Chain Disruptions

Fluctuations in the availability and prices of raw materials, particularly petroleum-based resins, pose a significant threat to the plastic wrap market. Such disruptions can lead to supply chain bottlenecks, impacting production volumes and increasing costs. Market stability is jeopardized as manufacturers struggle to maintain consistent supply and profitability amidst volatile material prices.

This 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 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 Developments

• In February 2024, PAC Machinery unveiled the PAC FW 650SI Flow Wrapper, tailored for FiberFlex paper packaging, promoting eco-friendly mailers from recycled materials. The innovation, a finalist in the "Best Innovation in Sustainability" category at the MHI Innovation Awards, signifies a commitment to high-performance and eco-conscious solutions in packaging
• In December 2023, Harpak-ULMA debuted the FR 400 TWIN Flow Wrapper in North America, revolutionizing automated packaging with a high-volume solution. This innovative system marks a significant advancement in packaging technology, catering to the growing demand for efficient and scalable packaging solutions in the region
• In June 2020, Amcor partnered with Espoma Organic to pioneer ecological packaging, introducing a new bio-based polymer package. The collaboration resulted in a polyethylene film comprising 25% bio-based material, aligning with sustainability goals and promoting the adoption of more environmentally friendly packaging solutions in the packaging industry
• In September 2020, Amcor joined forces with Nestle to launch recyclable flexible retort pouches, starting with wet cat food, aimed at reducing the ecological footprint of customer packaging by up to 60%. Meeting circular economy packaging guidelines set by the CEFLEX Consortium, this initiative signifies a significant step towards sustainable packaging practices in the market

Plastic Wrap Market Scope

The market is segmented on the basis of types, materials, feature, processing type, transparency, hardness, thickness, 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

Thickness

• Below 8 Microns
• 8 to 14 Microns
• 14 to 20 Microns
• 20 Microns and Above

 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 market is analysed and market size insights and trends are provided by country, types, materials, feature, processing type, transparency, hardness, thickness, distribution channel and end-user as referenced above.

The countries covered in the 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

North America is expected to be the fastest developing region in the plastic wrap market, driven by escalating demand for reusable plastic wrap in the retail sector. This trend underscores the region's commitment to sustainable packaging solutions, influencing market growth significantly.

Asia-Pacific is expected to dominate the plastic wrap market, driven by surging production and consumption of stretch films, predominantly made of plastic. China spearheads the region's re-usable plastic wrap sector, benefiting from ease of production. Rising business activity, plastics packaging and consumer awareness further fuel demand across Asia-Pacific.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as 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 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 market.

Some of the major players operating in the market are:

• Polywrap India (India)
• AVPack Plastic Manufacturers (South Africa)
•  Suzhou Yuxinhong Plastic Packaging Co., Ltd. (China)
•  Coveris (U.K.)
•  Shenzhen Chengxing Packing & Material Co.Ltd (China)
•  Four Star Plastics (U.S.)
• AMERICAN Mfg 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 Global Inc. (U.S.)

SKU-53221