Rising Demand and Automation Drive Australia's Pallet Wraps Market: Expected to Reach US$ 468.1 Million by 2032

 Over the next ten years, the size of the Australia pallet wraps market is anticipated to expand at a CAGR of 3.0%. The market is expected to have grown from US$ 361.9 million in 2023 to US$ 468.1 million in 2032. It was valued at US$ 350.4 million in 2022, and in 2023 it is expected to rise by 3.3% year over year.

The development of mono-material wraps is expected to strengthen the market for pallet wraps in the country. Pallet wraps are used to secure and protect goods during transport and storage and are typically made of multiple layers of materials. A few of these include plastic, paper, and foil.

Pallet wraps are difficult to recycle and can contribute to environmental pollution. Mono-material pallet wraps, on the other hand, are made from a single material such as polyethylene or polypropylene and are much easier to recycle. Consumers & businesses are becoming more environmentally conscious, and are looking for packaging solutions that are both effective and environmentally friendly.

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Due to widespread consumption and strong demand, packing and transportation of goods are becoming increasingly important in today's society. Owing to increased demand for packaging, numerous firms are working to automate their end-of-line packaging systems.

It offers increased productivity at lower prices. As a result, the government of Australia supports bio-products and environmental programs, which will benefit suppliers of pallet wrap. In the following ten years, they can create new biodegradable pallet wraps.

Pallet wrap demand has been considerably impacted by rising online retail activity and e-commerce significance in Australia. As more products are transported over longer distances, it is crucial to make sure they are transported safely. Pallet wraps give stacked pallets solidity and containment, ensuring that goods endure the lengthy transportation process undamaged.

The growing demand for pallet covers will also be influenced by the need for affordable solutions. Businesses in Australia are always looking for ways to reduce their packaging costs without sacrificing quality.

Key Takeaways:

Based on material, the polyethylene (PE) segment held an Australia pallet wraps industry share of about 78.3% in 2022.
The Australian pallet wraps industry is anticipated to expand 1.3 times the current value during the forecast period.
In 2022, the top 5 pallet wrap manufacturers in Australia accounted for a collective share of 60 to 65%.
By product type, the machine rolls segment is anticipated to create an absolute dollar opportunity of US$ 80.9 million during the estimated period.
By film, the cast film segment is likely to create an incremental opportunity of US$ 83.1 million during the assessment period.

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"The primary driver of the need for pallet wraps in Australia has been the necessity for economical and effective packaging solutions for delivering goods across vast distances. Pallet wraps have a number of advantages, including the ability to shield items from moisture, dust, and filth while also maintaining their stability during transportation. These features would help push their demand in the country,"- says a lead Future Market Insights (FMI) analyst.

Fruit and Vegetable Ventilated Pallet Wrapping to Gain Traction in Australia:

Fruit and vegetable ventilated pallet wrapping is gaining traction in the Australian packaging sector. It offers several advantages over traditional pallet wrapping. It also allows for better airflow around the product, which can help to reduce spoilage and extend the shelf life.

By allowing for better airflow and reducing the need for excess packaging materials, ventilated pallet wrapping can help to reduce the environmental impact of packaging processes. Fresh produce is essential for human well-being.

Despite this, several adults in the country fail to meet national fresh produce consumption standards, putting their health at risk. As a result, it is critical to ensure that consumers have access to fresh, nutritious food rather than permitting it to go to waste.

Ventilated stretch pallet wraps provide the same benefits as traditional wraps by securing palletized goods while allowing goods to breathe. These can keep fruits & vegetables fresh and appealing, which would spur their demand.

Competitive Landscape:

A few of the market players featured in the report are Sealed Air Corporation, Pro-Pac Packaging Limited, Visy Boxes & More, Omni Group Pty Ltd, Great Wrap, Signet, FROMM Packaging Australia, and others. Tier 3 players in the market hold 29 to 36% of the Australian pallet wraps market share.

Pallet wrap companies in the country are focusing on optimizing their manufacturing and distribution processes to reduce costs & improve efficiency. This includes investing in automation and robotics for pallet wrapping, which can save time and labor expenses. By streamlining operations, companies can offer competitive pricing and faster turnaround times to customers.

There are several start-ups in the pallet wrap industry in Australia that have been gaining attention for their innovative products. Here are a few of them:

WrapPak offers sustainable and eco-friendly pallet wrapping solutions. Their flagship product is a unique paper-based wrapping system that eliminates the need for traditional plastic stretch films. Their solution provides excellent load stability and protection while reducing plastic waste and carbon footprint.

StretchIt offers a novel stretch film technology designed to enhance load containment and reduce the risk of transportation damage. Their product features a special formulation that provides superior cling properties and elasticity. It ensures tight and secure pallet wrapping.

PalletWrapz specializes in customizable pallet wrap solutions. They offer a range of stretch films with different specifications, allowing customers to choose the most suitable option for their specific needs. They also provide personalized printing services. They enable businesses to incorporate branding and labeling directly onto the wrap for enhanced visibility and logistics management.
LLDPE
LDPE
HDPE

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Market Outlook by Category:

By Materials:

Polyethylene (PE)
Polypropylene (PP)
Polyethylene Terephthalate (PET)
Polyamide (PA)
Polyvinylidene Chloride (PVDC)

By Thickness:

< 15 mm
15 to 30 mm
31 to 45 mm
> 45 mm

By Product Type:

Hand Wrap Rolls
Machine Rolls

By Film Type:

Blown Film
Cast Film

By End Use:

Food & Beverages
Pharmaceuticals
Chemicals & Fertilizers
Personal Care & Cosmetics
Automotive
Electrical & Electronics
Others Industrial (Textile and Handicraft)

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.