Global Overwrap Packaging Market: Snapshot

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.                    

Another highly beneficial factor that works in favor of overwrap is the minimal possibility of tampering with it. Intactness of the overwrapping film makes it evident that the product has not been contaminated since leaving the source factory. This test comes in handy to check contamination of food and beverages and pharmaceutical products. To mitigate the chances of contamination, several pharmaceutical products, which were traditionally sold in over the counter blister carton packs are being overwrapped in a number of countries.

The fact that overwrapping, unlike some packaging technologies such as shrink-wrapping, does not require excessive film for wrapping, is acting in favor of the technology as environmentalists continue to look for ways of adopting packaging technologies that produce the least amount of non-biodegradable waste. All these factors are expected to provide vast growth opportunities to the global overwrap packaging market in the next few years. 

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 is one of such solution, which allows bundled wrapping of products. This form of packaging is largely used in packaging consumer products such as water bottles, tissue paper, fruits and vegetables and gift wrapping, etc. On the backdrop of growth in FMCG products, the demand for overwrap packaging also surged up and is projected to remain impressive in near future.

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. Aluminum overwrap packaging is mostly used by food & beverage industries. The trend of overwrap packaging by making use of bio plastic is being widely adopted by packaging companies globally owing to its ecofriendly nature. Moreover, overwrap packaging is considered as one of the most convenient and user-friendly forms of packaging and is expected to showcase a promising future in the packaging industry in the next decade.

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. The demand for overwrap packaging is at matured stage in the arcade of South America, Eastern Europe, and Middle East & Africa. The European market is boosted by rising consumer spending. The fasted growing Asia-Pacific region is predicted to grow at an impressive CAGR in terms of volume from 2016 to 2026. The rising middle-class population with high disposable income, and demand for convenient packaging, are driving the growth of overwrap packaging market in the Asia Pacific region

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. 

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, material, and applications. 

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Overwrap Packaging Market