Asia-Pacific Plastic Wrap Market is Expected to Grow a CAGR of 5.20% During 2023 to 2030

 This Asia Pacific Plastic Wrap Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.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.

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.

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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)

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.

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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.

Plastic Wrap Market Country Level Analysis

Plastic wrap is analysed and market size information is provided by country type, material, feature, processing type, transparency, hardness, distribution channel and end-user.

The countries covered in Asia-Pacific Plastic Wrap market report are Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe.

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 new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries.

Asia-Pacific Plastic Wrap Market Scope

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

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