Corrugated Wraps Market

Corrugated Wraps Market Snapshot (2023 to 2033)

The global Corrugated Wraps Market is expected to garner a market value of USD 3,747.8 million in 2023. The global market is expected to accumulate a market value of USD 5,820.2 million by registering a CAGR of 4.5% from 2023 to 2033.

The growth of the corrugated wraps market can be attributed to the increasing penetration of e-commerce sites and the demand for environmentally friendly packaging materials. The market for corrugated wraps registered a CAGR of 3.1% in the historical period 2018 to 2022.

Corrugated packaging keeps vegetables and fruits fresh from the farm to store. Manufacturers of corrugated wraps offer a wide range of sustainable labels made from papers, post-consumer waste papers, and dissolvable and repulpable papers, among others.

The demand for corrugated wraps is expected to grow with the rise in eco-conscious consumers across the globe. One of the key trends observed among consumers today is a higher preference for sustainable packaging. A lot depends on consumer sentiments regarding the impact of a packaging solution on the environment.

The global corrugated wraps market can be applied on a variety of surfaces such as stainless steel, metal, cardboard, and glass, among others. Corrugated wraps cater to various end-use industries, such as the food & beverages industry and personal care & cosmetics industry. Some key trends observed in the market are using soy-based inks and producing renewable paper & films with corn-based products.

Attribute	Details
Global Corrugated Wraps Market Valuation in 2022	USD 3,586.4 million
Estimated Global Market Share in 2023	USD 3,747.8 million
Forecasted Global Market Size by 2033	USD 5,820.2 million
Projected Global Market Growth Rate from 2023 to 2033	4.5% CAGR
Historical Market Growth Rate from 2018 to 2022	3.1% CAGR

2018 to 2022 Corrugated Wraps Demand Analysis vs. Forecast 2023 to 2033

The global demand for corrugated wraps is projected to increase at a CAGR of 4.5% during the forecast period between 2023 and 2033, reaching a total of USD 5,820.2 million in 2033. According to a report from Future Market Insights (FMI), from 2018 to 2022, sales witnessed significant growth, registering a CAGR of 3.1%.

The increasing demand for packing products neatly, owing to the safety of products, is increasing the demand for corrugated wraps. In addition, manufacturers of corrugated wraps are customizing the same to meet the demand for different products. In addition, the growing penetration of e-commerce sites further accelerates the demand for corrugated wraps.

Although the COVID-19 pandemic affected the demand for corrugated wraps, the demand for the same has heightened post-pandemic. This is owing to the increasing dependency on online shopping for various products.

Some Prominent Drivers of Corrugated Wraps Market

Demand for Sustainable Corrugated Wraps Driving Market Growth

The global push for sustainable packaging and marketing solutions has increased consumer awareness regarding the negative impact of certain packaging solutions on our environment. As consumer awareness continues to rise, the shift toward recycled packaging and marketing solutions is expected to become conspicuous.

Global corrugated wraps are anticipated to grow on the backdrop of the global sustainable packaging market growth during the next ten years and beyond. Global corrugated wraps are manufactured using a variety of materials to suit various applications and markets. Moreover, manufacturers of corrugated wraps also offer custom services.

E-commerce Sites Augmenting Sales of Corrugated Wraps

Brand owners are expected to use corrugated wraps for their products, which may increase the chances of impulse buying among eco-conscious consumers. In addition, the increasing use of corrugated wraps by e-commerce sites is augmenting sales. Corrugated wraps are manufactured using eco-friendly material, and their production reduces the company's carbon footprint.

This is expected to boost sales of products such as corrugated wraps when there is a high demand for sustainable packaging solutions both from the supply and demand sides. Therefore, the outlook for the growth of the global market is expected to be mostly positive during the forecast period.

Challenges Faced by the Corrugated Wraps Market

Lack of Awareness Regarding the Benefits of Corrugated Wraps Affecting Market Growth

The growth of the global market over the forecast period is hampered due to certain factors. For corrugated wraps to witness higher demand, more consumers need to be made aware of the advantages of sustainable packaging.

Certain end-user industries are not willing to shift to sustainable packaging, thus restraining the market's growth. Furthermore, a lack of knowledge regarding the benefits of using corrugated wraps is affecting the market's growth.

Region-wise Insights

Digitization Driving the Growth of Corrugated Wraps in North America

Environment Safety Increasing Dependency on Corrugated Wraps

The North American corrugated wraps packaging market is expected to retain the leading position over the forecast period. This is attributed to a large eco-conscious consumer base in the region.

In addition, the growing trend of digitization along with increasing usage of electronic items, automotive, and health and wellness-related products is anticipated to increase demand for their packaging.

Regulations about environmental safety coupled with the rising need for easy-to-handle and readily disposable packaging solutions in the region are expected to drive the product demand. Thus, due to the reasons mentioned above, North America held a 27% market share for corrugated wraps in 2022.

Growth of End-user Industries Creating Lucrative Opportunities for Corrugated Wraps in Europe

E-commerce Sites Aggravating Sales of Corrugated Wraps

The European region is also expected to witness sizeable demand for corrugated wraps as brands move from conventional to sustainable packaging and labeling solutions. Moreover, the growth of this market can be attributed to the wide product application in the regional processed food and electronics industries.

Increasing sales of products from e-commerce sites is aggravating the demand for corrugated wraps. Moreover, consumers from the United Kingdom, Germany, and Italy are exhibiting interest in buying products that are packaged in an eco-friendly manner. Thus, owing to the aforementioned reasons, Europe possessed a 25% market share for corrugated wraps in 2022.

Government Initiatives to Ban Plastic Increasing Dependency on Corrugated Wraps in the Asia Pacific

The Retail Sector Contributes Majorly to the Corrugated Wraps Market

Rapid urbanization in highly populated countries, such as China, India, and Indonesia, drives the demand for packaging products. Growing environmental awareness is expected to result in increased demand for greener packaging solutions, driving market growth. In addition, the booming retail sector in the region is expected to gain momentum, resulting in more sales of packaged products with corrugated wraps.

Government initiatives to ban plastic packaging in several Asian countries are also expected to accelerate product consumption. Thus, the Asia Pacific region procured a 20% market share for corrugated wraps in 2022. It is also anticipated to be the leading growing regional market in revenue from 2023 to 2033.

Category-wise Insights

Assurance of Safety of Products Increasing Demand for Corrugated Wraps in Retail Sectors

Consumer Demand for Safe Packaging is Accelerating the Growth of Corrugated Wraps in the Retail Sector

The retail sector is the key contributor to the corrugated wrap segment. This is owing to the increasing demand for packaging products efficiently in corrugated wraps for the safety of the same. Furthermore, most retail sectors are investing in environmentally-friendly wraps due to the growing demand for the same from consumers.

Packaging products in retail sectors ensure no product is damaged, spilled, or broken. This has led to retail sectors maximizing the use of corrugated wraps on a large scale. Thus, retail sectors held a 35% market share for corrugated wraps in 2022.

Start-ups for Corrugated Wraps Market

Key start-ups for corrugated wraps are Noptla, Evoware, BeeBagz, RooCreate, Kleen Hub, and Boostani.

• BeeBagz, a Canadian start-up, offers plastic-free, eco-friendly, and reusable wrappers. The start-up uses plant-based products to manufacture these wrappers and aims to reduce single-use packaging.
• Boostani, another key player, focuses on creating wraps with barrier properties. The start-up uses mono materials to reduce the need for extra layers and can be easily recycled.

Market Competition

A few of the key market participants operating in the global corrugated wraps market include Springfield Corrugated Box, Inc., Crown Technologies, Palmer Packaging, Inc., Willard Packaging Co., Antalis S.A., and On-Demand Packaging (Packsize).

• Willard Packaging Co, a key player in the corrugated wrap market, offers wraps corrugated wraps such as hand wrap, machine wrap, and wrap for tools. The company is focusing on offering specific corrugated wraps for different products.
• Palmer Packaging, Inc., another key player in the corrugated wrap market, offers edge protectors such as single-face corrugated, pulp roll guard cradles, and corner boards. The company is focusing on offering corrugated wraps for all types of products, irrespective of the design of the product.

Report Scope

Attribute	Details
Market Value in 2023	USD 3,747.8 million
Market Value in 2033	USD 5,820.2 million
Growth Rate	CAGR of 4.5% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product Type, End Use, Region
Regions Covered	North America; Latin America; Asia Pacific; The Middle East and Africa
Key Countries Profiled	United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel
Key Companies Profiled	Springfield Corrugated Box; Crown Technologies; Palmer Packaging Inc.; Packsize LLC; Amcor; International Paper; Smurfit Kappa Group; WestRock; Mondi Group; DS Smith; Context
Customization	Available Upon Request

Key Segments Profiled in the Corrugated Wraps Market Industry Survey

By Material Type:

• Paper
  • Semi-gloss/Matte Paper
  • Direct Thermal Paper
  • Vellum Paper
  • Others
• Plastic
• Fiber

By End Use:

• Schools
• Retail Stores
• Warehouses
• Restaurants

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• The Middle East & Africa

Frequently Asked Questions

What Drives Sales of the Market?

Demand for sustainable corrugated wraps drives the market growth.

What is the Key Trend of the Market?

Demand for corrugated wraps is expected to grow with the rise in eco-conscious consumers.

What is the Growth Forecast for the Market?

The market is forecast to register a CAGR of 4.5% through 2033.

What was the Market Forecast in 2022?

The market generated a revenue of USD 3,586.4 million in 2022.

Who are the Startup Companies?

BeeBagz and Boostani are the startup companies.