Twist Wrap Film Market

Twist Wrap Film Market Outlook

As per the research conducted by Future Market Insights, during the forecasted period, the global twist wrap film market is expected to account for US$ 1.5 Bn in 2023, and is going to further expand at a CAGR of 4.3% to get valuation of US$ 2.2 Bn by the year 2033. The sales of the twist wrap film are anticipated to bolster with the top 3 countries projected to hold approximately 25-30% of the market in 2023.

Based on the material, the plastic segment is projected to remain the leading among the other materials used for manufacturing twist wrap film. The paper segment is estimated to expand 1.5 times the current market value during 2023-33.

According to the FMI analysis, the twist wrap film market revenue totaled US$ 1.4 Bn in 2022. With the propelling demand from the various end-use industries, the global twist wrap film market is projected to reach US$ 2.2 Bn by 2033, accelerating at a CAGR of 4.3% during the forecast period.

The twist wrap film market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that twist wrap film sales will rise during 2023-2033 and is projected to create an absolute incremental growth opportunity of US$ 830.7 Mn.

The significantly rising demand for food products such confectionary items have increased the demand for twist wrap film. The twist wrap film market is anticipated to expand 1.6 times the current market value during the forecast period.

Historic Market Outlook for Twist Wrap Film Market

The global twist wrap film market witnessed a CAGR of 4.0% during the historic period with a market value of US$ 1.4 Bn in 2022.

The twist wrap film is a thin sheet that is used widely for wrapping around an object to protect and secure the product. It is designed to provide a secure, easy wrap and use, that can withstand extreme temperatures and environmental conditions. The twist wrap films can be available in variety of modifications options. The manufacturers of twist wrap film offer an on-demand printability or transparent film attributes.

The twist wrap film is widely used to wrap confectionary products such as candy, gums, chocolates, sweets, etc., due to its beneficial characteristics of twist ability, affordability, and temperature resistance which makes twist wrap film an ideal packaging for the confectionary and other products.

How does the Need for Attractive Gift Wrapping Solution Drive the Market for Twist Wrap Film?

The confectionery packaging is widely commonly used use of twist wrap film. The need for twist wrap film is being driven by the growing custom of giving gifts to one another on special occasions. Due to its neat and appealing finish, twist wrap film is frequently used to wrap gifts.

Especially within the food industries, packaging innovation has expanded rapidly. The twist wrap film is anticipated to rise as the foundation of the rise of the confectionery industry, driven by the demand for attractive packaging solutions. Twist wrap film's excellent protective characteristics and superior dead fold characteristics ensure that there is no chance of products being damaged by external contamination.

Ismail Sutaria

Principal Consultant

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Category-wise Insights

Which Material is expected to Hold a Major Portion of the Global Twist Wrap Film Market?

Based on the material, the plastic segment holds the major portion of the global twist wrap film market. It is anticipated to hold 45% market share by the end of 2033.

It has superior properties such as high tensile strength, and cost-effective alternatives to conventional material. Plastic twist wrap films are also lightweight, flexible, printable, and customizable as per the demand of the manufacturer which makes ideal packaging. The plastic twist wrap film is also used for lamination on various products which acts as a shield to protect from water and heat to some extent.

Which Application Type offers Lucrative Growth Opportunities in the Global Twist Wrap Film Market?

As per FMI analysis, the confectionary packaging is expected to expand 1.4 times the current market value during the forecast period.

The confectionary packaging, by application type is the leading application segment of twist wrap film market and continuous to create a lucrative growth opportunity in the global twist wrap film market. The reason of remain leading segment can be attributed to the ever-changing demand for food products, which drive the need for innovative packaging solutions that preserve the quality of the product in cost-effective manner. Twist wrap film offer a versatile packaging solutions for confectionaries as they can be customizable according to the demand of the manufacturers.

Country-wise insights

How does the U.S. Create a Growth Opportunity for Twist Wrap Film Market?

The U.S. is expected to hold around 81% of the North American twist wrap film market by the end of the forecast period. According to the U.S. Department of Agriculture (USDA), around US$ 1.8 trillion worth of food was supplied by the foodservice and food retailing industry in the U.S., out of which US$ 978 billion worth of food was supplied by the foodservice facilities in the U.S. The food supplied by the food service facilities may have consumed large volume of packaging as food is packed in different packaging solutions.

How India’s FMCG Market had pushed the growth of the Global Twist Wrap Film Market?

As per the FMI analysis, the Indian twist wrap film market is estimated to expand at a CAGR of 4.5% during the forecast period.

According to India Brand Equity Foundation (IBEF) that the FMCG industry in India would grow at a CAGR of 14.9% from US$ 110 Bn in 2020 to US$ 220 Bn by 2025. By 2025, it is anticipated that the packaged food market in India would have doubled to reach US$ 70 billion. Due to the investors are attracted by the investment in the Indian FMCG market. The twist wrap film market is influenced by the growth of the FMCG market and remains to grow during the forecasted period. The various properties such as easy availability, on-demand printing, use as a lamination, protect shelf life and taste, that twist wrap film make the ideal packaging for the confectionary and various retail products.

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Competitive Landscape

The key players operating in the twist wrap film market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows –

• In Dec 2022, Amcor opens China’s largest flexible packaging plant in Huizhou, with an investment of almost US$ 100 Mn to strengthen its position in the Asia Pacific region.
• In Oct 2022, LyondellBasell announced signed an agreement with ExxonMobil, Cyclyx to advance development of plastic waste sorting and processing facility in the Houston area.

Scope of the Report

Twist Wrap Film Market by Category

By Material, the Twist Wrap Film Market is Segmented as:

• Plastic
  • PE
  • PET
  • PVC
  • Others
• Paper
• Metal (Foil)

By Printability, Twist Wrap Film Market is Segmented as:

• Printed
• Non-printed

By Thickness, Twist Wrap Film Market is Segmented as:

• Below 20 Micron
• 20-25 Micron
• Above 25 Micron

By Application, Twist Wrap Film Market is Segmented as:

• Confectionery Packaging
  • Candy Wraps
  • Chocolate Wraps
  • Gums
  • Sweets
  • Other
• Gift Wrapping
• Personal Care
• Others

By Region, Twist Wrap Film Market is Segmented as:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania