Twist Wrap Film Market by Material (Plastic (PE, PET, PVC), Paper, Metal (Foil)), Printability (Printed, Non-Printed), Thickness (Below 20 Micron, 20-25 Micron, Above 25 Micron), Application (Confectionery Packaging, Gift Wrapping, Personal Care,) & Region | Forecast 2023 to 2033
Market Insights on Twist Wrap Film covering sales outlook, demand forecast and up-to-date key trends
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 billion in 2023 and is going to further expand at a CAGR of 4.3% to get a valuation of US$ 2.2 Billion 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 to 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 from 2023 to 2033.
Attributes
Details
Market Size 2023
US$ 1.5 Billion
Market Size 2033
US$ 2.2 Billion
Value CAGR (2023 to 2033)
4.3%
Collective Value Share: Top 3 Countries (2023E)
25 to 30%
According to the FMI analysis, the twist wrap film market revenue totaled US$ 1.4 Billion 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 Billion 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 from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of US$ 830.7 Million.
The significantly rising demand for food products such as confectionary items has increased the demand for twist wrap films. The twist wrap film market is anticipated to expand 1.6 times the current market value during the forecast period.
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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 billion 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 a variety of modification options. The manufacturers of twist wrap film offer 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?
Confectionery packaging is a 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.
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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 a 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 confectionery packaging, by application type, is the leading application segment of the twist wrap film market and continues to create a lucrative growth opportunity in the global twist wrap film market. The reason of remain the leading segment can be attributed to the ever-changing demand for food products, which drives the need for innovative packaging solutions that preserve the quality of the product in a cost-effective manner. Twist wrap film offers versatile packaging solutions for confectionaries as they can be customizable according to the demand of the manufacturers.
Country-wise insights
How does the US Create a Growth Opportunity for the Twist Wrap Film Market?
The US is expected to hold around 81% of the North American twist wrap film market by the end of the forecast period. According to the US Department of Agriculture (USDA), around US$ 1.8 trillion worth of food was supplied by the food service and food retailing industry in the US, out of which US$ 978 billion worth of food was supplied by the food service facilities in the US The food supplied by the food service facilities may have consumed a 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 Billion in 2020 to US$ 220 Billion by 2025. By 2025, it is anticipated that the packaged food market in India would have doubled to reach US$ 70 billion. 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 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 a signed agreement with ExxonMobil, and Cyclyx to advance the development of plastic waste sorting and processing facility in the Houston area.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 4.3% from 2022 to 2033
Base Year for Estimation
2022
Historical Data
2018 to 2022
Forecast Period
2023 to 2033
Quantitative Units
Revenue in USD Billion, Volume in Sq. Mt., and CAGR from 2022 to 2033
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
Material Type, Printability, Thickness, Application, Region
Regions Covered
North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania
Key Countries Covered
The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia
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, the 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 (MEA)
Oceania
Frequently Asked Questions
What was the value of the twist wrap film market in 2022?
In 2022, the value of the global twist wrap film market was US$ 1.4 Billion.
At what rate is the global twist wrap film market is projected to expand during the forecast period?
During the forecast period, the global twist wrap film market is anticipated to expand at a CAGR of 4.3%.
By 2033, what will the value of the global twist wrap film market be?
The global twist wrap film market is expected to reach US$ 2.2 Billion by the end of 2033.
Which material segment is expected to lead the global twist wrap film market during the forecast period?
During the forecast period, plastic material is likely to be the fastest-growing material segment in the global twist wrap film market.
What drives the demand for the twist wrap film market?
The demand for twist wrap film is driven by the growing need for confectionary products and food packaging products.
Which are the top players supplementing the sales of twist wrap film?
Amcor plc, LyondellBasell Industries Holdings B.V., A&M Packaging, Polysack Flexible Packaging, Flexipol, Korozo Flexible, and Constantia Flexibles are the top players supplementing the sales of twist wrap film.
At what rate is the Indian twist wrap film market projected to grow?
As per the FMI analysis, the Indian twist wrap film market is projected to expand at a CAGR of 5.0% from 2023 to 2033.
