The global overwrap packaging market continues to hold a prominent in position in the packaging sector, with a constant rise in application areas and rapid pace of introduction of packaging materials and technologies that make the packaging more beneficial for a number of specialized packaging purposes. Vast benefits of the packaging method, ranging from a massive reduction in the overall cost of packaging products in bulk, as the amount of film required for overwraps costs significantly less than complete cardboard outer or cartons, and the possibility of on-pack promotion are driving the market.
Overwrap Packaging Market: Overview
Packaging, over the past decade, surfaced as a necessity of a typical product launch strategy. Packaging is the need of all industries, which translated into the mushrooming of over thousand companies associated with packaging, including from raw material supplies to processing and from designing to printing. Packaging industry witnessed large scale technology adoption regarding films, equipment and packaging methods. Moreover, demand for elementary packaging remained intact.
Overwrap Packaging Market: Dynamics
The availability of a wide range of innovative packaging solutions is likely to have a significant influence on the demand for overwrap packaging market during the forecast period. Furthermore, increasing demand for convenience packaging, coupled with increasing disposable income further bolstered the overwrap packaging demand. The demand of laminated overwrap packaging is in demand due to its transparent and waterproof nature.
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Overwrap Packaging Market: Segmentation
The global overwrap packaging market is segmented on the basis of product type into shrink overwrap, film overwrap, and vacuum overwrap. On the basis of material type overwrap packaging can be segmented into plastic films, aluminum foil, paper and bio plastic. The plastic films segment is further segmented into polyethylene (HDPE and LDPE), polypropylene (BOPP and CPP), EVOH and polystyrene. On the basis of application type, overwrap can be segmented into food & beverages, tobacco industries, household & toiletries, cosmetics & personal care, others (agricultural products, toys, etc.)
Overwrap Packaging Market: Regional overview
The global market for overwrap packaging market witnessed rapid growth in last few years. The Asia-Pacific market is expected to witness maximum growth rate in the global overwrap packaging market. However developed economies, such as Europe and North America are expected to account for the major share in the overwrap packaging market and is likely to maintain its dominance by the end of forecast period.
Overwrap Packaging Market: Key Players
The key player of overwrap packaging market are Amcor Limited, Bemis Company Inc.,Sealed Air Corporation, Other prominent players operating in the overwrap packaging market are Ampac Holdings, WS packaging, Overwrap flexibles S.A.