Box And Carton Overwrap Film Market Projected to Reach USD 16.42 Billion by 2031 Driven by Increasing Demand in Food & Beverage Industry

"According to the SNS Insider report, the Box and Carton Overwrap Film Market Size was valued at USD 12.18 billion in 2023. SNS Insider analysts project it to reach USD 16.42 billion by 2031, reflecting a CAGR of 3.8% from 2024 to 2031"

Driven by the e-commerce boom, the demand for tamper-evident and protective packaging solutions is expected to grow by 4.4% annually (YoY) until 2031.
This rise aligns perfectly with the increasing consumer desire for attractive and convenient packaging. Box and carton overwrap films, including both shrink and stretch varieties, deliver on both fronts. Shrink films, particularly those exceeding 40 microns in thickness, offer superior stacking strength and protection for heavy or multiple items during transport a critical factor for the booming online retail sector. Stretch films, on the other hand, provide to the growing preference for tamper-evident packaging, with their ability to visibly deform if tampered with

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Major Players Listed in this Report are:
- Innovia 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 AS

Fluctuations in raw material prices, particularly the polymers and resins that make up these films, present a significant obstacle.
A recent price rise of 20% for low-density polyethylene (LDPE), a common resin used in shrink wrap, squeezed profit margins for manufacturers. Moreover, growing environmental concerns will negatively affect the industry. The challenge lies in balancing functionality with sustainability. While overwrap films provide vital protection during transport and storage, their traditional plastic composition makes them difficult to recycle. This is particularly concerning as the e-commerce boom, a key driver of market growth, also generates a significant amount of plastic waste.

E-commerce's phenomenal growth, for instance, has raised demand for high-performance films.
A study by SNS Insider in 2023 revealed that global e-commerce sales are projected to reach a USD 9.1 trillion by 2031. This translates to a significant requirement for strong overwrap films that ensure product integrity during transit. Additionally, the rising focus on sustainability is opening doors for biodegradable and bio-based films.

The expanding automation trend in warehousing and logistics is creating a demand for films with superior machine compatibility.
A recent study by SNS Insider predicts that warehouse automation adoption will reach 70% by 2031. This necessitates the development of films that seamlessly integrate with automated packaging systems, enhancing efficiency and productivity. By capitalizing on these evolving trends and incorporating data-driven insights into product development, box and carton overwrap film manufacturers can unlock an excess of untapped opportunities in the marketplace.

By Application Segment Analysis:
This creates a tamper-evident seal, ideal for applications in food and beverages holds 35% share and pharmaceuticals holds 10% where product integrity is paramount. Stretch film, on the other hand, offers superior load containment and excels in industrial packaging holding 20% and logistics holding 15% share.
However, its looser fit sacrifices the tamper-evident advantage. Material costs play a role too. Polypropylene (PP) dominates the market 45% due to its affordability and balance of strength and clarity.

Asia Pacific, led by China and India, is expected to witness the highest CAGR due to factors like a
- Booming e-commerce sector.
- Rising disposable incomes.
- Expanding manufacturing base.

These trends are translating into a significant increase in demand for packaged goods, necessitating the use of overwrap films for protection and tamper-evidence. Latin America is another emerging region showcasing promising growth prospects, driven by a growing middle class and its increasing focus on processed and convenience foods. Here, the market is expected to be heavily influenced by the adoption of sustainable bio-based overwrap films as environmental concerns gain traction.

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Key Trends:
- Driven by growing environmental concerns and rising government regulations, the demand for sustainable films is expected to reach a 42% of the market share by 2031.
- This translates to a significant shift from traditional polyethylene films towards biodegradable and compostable alternatives made from bio-based materials like PLA (polylactic acid) and cellulose.
- The market is experiencing a rise in smart film technology. By incorporating sensors that monitor factors like temperature and pressure during transportation, these intelligent films can help prevent product spoilage and ensure optimal delivery conditions.

Recent Developments:
- In 2022, Innovia Films, a major producer, launched RayoWrap, a BOPP film specifically designed for shrink and wrap-around labels. This eco-friendly solution boasts easy bottle removal, promoting recycling efforts.
- Berry Global Inc., another industry giant, announced a significant investment exceeding $70 million for new production lines dedicated to multilayer blown films. This expansion targets the growing demand for consumer packaging films, particularly in e-commerce, food, and beverage sectors.
- UFlex Limited, an Indian flexible packaging leader, is experiencing international growth. They plan to establish new production lines in South India, aiming to increase their Box and Carton Overwrap Film capacity by 63,000 TPA (tonnes per annum).

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