Box and Carton Overwrap Films Market: Preference for Packaging Solutions Offering On-Pack Promotion to Drive Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

Box and Carton Overwrap Films Market: Preference for Packaging Solutions Offering On-Pack Promotion to Drive Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

Box and Carton Overwrap Films Market Analysis: Appealing Appearance of Packages Providing an Edge to Overwrap Films

The global box and carton overwrap films market is estimated to be valued at nearly US$ 9.7 Bn in 2018 and is projected to expand at a CAGR of 4.1%, during the forecast period (2018 - 2028).

Box and carton overwrap films are designed to provide efficient shipping and impart an appealing appearance to a package. Box and carton overwrap films are the type of barrier films, which can be wrapped around a variety of packaging formats.

Box and Carton Overwrap Films Market: Manufacturer Preferences

Most of the industry trends are related to flexible packaging solutions, which clearly indicates that the focus of packaging manufacturers is shifting toward flexible formats. The increment in the packaging formats is expected to boost demand for box and carton overwrap films.

Consumers prefer convenient packaging formats, and so do manufacturers. Hence, convenient packaging design is at the epicenter of manufacturers’ focus. Although wrapping a package is more for easy handling and transportation, it also helps in increasing the brand value of the product.

Hence, manufacturers prefer box and carton overwrap films with high printability. Even box and carton overwrap films which are not printed, imparts an enhanced appearance to the package.

Box and Carton Overwrap Films: Market Categories

The global box and carton overwrap films market is segmented as material type, film type, film thickness, coating type, end use, sales channel, and region. These segments are further categorized into sub-segments for a better understanding of the market.

Coated box and carton overwrap films are further segmented as acrylic coated, PVdC coated, EVOH coated, and acrylic-PVdC coated films. EVOH coated box and carton overwrap films provide barrier properties to the package.

The box and carton overwrap films are used in the packaging of tobacco, cosmetics, and pharmaceuticals. The protection of products from moisture and other external elements is essential, which is expected to boost the demand for box and carton overwrap films.

Uncoated box and carton overwrap films are further segmented as BOPP, BOPET, CPP, BOPA, and BOPLA. 1/3rd of the total revenue generated by the box and carton overwrap films market across the world comes from the food industry.

Bio-plastics – An Effective Choice for Manufacturers of Box and Carton Overwrap Films

Bio-plastics for packaging have been introduced in the packaging industry to meet the demand for biodegradable and recyclable packaging solutions. The box and carton overwrap films market is estimated to grow due to the introduction of bio-plastics.

Governments in several countries actively promote the use of bio-based plastic products. Therefore, manufacturers of box and carton overwrap films must tap into the opportunity to provide bio-based films.

Bio-plastic packaging has been witnessing significant growth in applications over the past few years, and is rapidly replacing conventional films used in the packaging industry. The introduction of bio plastics in box and carton overwrap films market is a significant opportunity for the manufacturers in the industry.

Box and Carton Overwrap Films Market: Drivers

Growing need to improve product promotional strategy has increased the significance of printability in packaging

On-pack promotion is given high preference over other rigid packaging solutions, boosting the demand for box and carton overwrap films. The manufacturers in the box and carton overwrap films are focusing on packaging solutions which are compatible with modern printing techniques.

Box and carton overwrap films not only reduce the number of films required, but also the overall cost of packaging and function as a marketing tool. The box and carton overwrap films market may also experience variations due to the retail sector.

The significant changes in the retail sector in the past few decades created a need for absolute customization, and a way for brands to connect with their customers. The box and carton overwrap films market is estimated to have growth opportunities in the near future, as the flexible packaging industry has shown a significant increase.

Box and Carton Overwrap Films Market: Key Developments

  • Manufacturers in the box and carton overwrap films market are involved in acquisitions and mergers, so as to enhance their product capabilities and expand their market footprint
    • In 2017, CCL Industries Inc., acquired Innovia group of companies, a manufacturer of packaging films, labels, and tobacco packaging solutions which include box and carton overwrap films.
    • In July 2018, CCL Industries Inc., acquired Treofan America Inc. and Trespaphan Mexico Holdings GmbH (Treofan Americas).
  • In 2018, Jindal Films, an Indian film and label manufacturer acquired a controlling stake in Treofan Europe

The polyethylene segment in the box and carton overwrap films market was valued at US$ 2.6 Bn in 2017 and is expected to expand at a CAGR of 4.7% over the forecast period 2018-2028.

The global box and carton overwrap films market is expected to create an incremental opportunity of US$ 5.2 Bn, during the forecast period. The box and carton overwrap films market is expected to expand at a CAGR of 4.1%, which infers a significant incremental opportunity for the global market.

In the box and carton overwrap films market, countries such as China and India in the Asia Pacific region are expected to expand at the highest CAGR among all other regions.

Box and Carton Overwrap Films Market: Competitive Landscape

Terichem A.S., Treofan Group, CCL Industries Inc., Berry Global Inc., Cosmo Films Ltd., SIBUR International GmbH, Smurfit Kappa Group Plc, Futamura Chemical Co., Ltd., Irplast S.p.A., Taghleef Industries Group, Jindal Poly films Ltd., Transcendia Inc., Uflex Ltd, Garware Polyester Limited, and Industrial Development Company sal (Indevco) are the major players in the box and carton overwrap films market.

Market Segmentation

The global box and carton overwrap films market is segmented on the basis of material type, film type, film thickness, coating type, end use, sales channel, and region.

  • On the basis of material type, global box and carton overwrap films market is segmented as PVC, PE, PP, PET, and other materials.
  • On the basis of film type, the global box and carton overwrap films market is segmented as shrink and stretch films.
  • On the basis of film thickness, the global box and carton overwrap films market is segmented as coated and uncoated films.
  • On the basis of end use, the global box and carton overwrap films market is segmented as food, beverage, PC & cosmetics, automotive, health care, industrial packaging, shipping & logistics, electrical and electronics, and others.
  • On the basis of sales channel, the global box and carton overwrap films market is segmented as brand owner sales and converter sales. The food segment in the box and carton overwrap films market includes processed food, fresh produce, dairy products, and bakery & confectionery.
  • The main regions assessed in the box and carton overwrap films market report include North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, the Middle East & Africa (MEA), and Japan. 

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