Wraparound Market: An Overview
The increase in product ranges offered at retail outlets leads to stiff competition among various market players. Closed corrugated boxes are not considered to be good for displaying the products, to extemporize the display of the products in retail outlet, an innovative method was introduced Smart Display Packaging that includes wraparound. Wraparound has transformed the corrugated boxes from its traditional function of transport to add the functionality of display at the retail outlet that has added a sales promotion. Wraparound has a unique property that not only saves labor costs but also saves time for opening the corrugated boxes and for displaying on the retail outlet. Wraparound has given additional sales promotional advantages as well as better product visibility to gain traction among the customers visiting stores.
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Wraparound Market: Dynamics
Wraparound packaging has solved the problem of space, as wraparound packaging is smaller in size through compressed packaging. Wraparound requires a lesser amount for its packaging and thus improves pallet stacking efficiency. Product display is directly relational to the purchase of the product at the retail outlet. Wraparound packaging gives a more attractive representation of the products. Wraparound packaging is anticipated to be in demand in the regions which have a scarcity of space, especially in the Asia-Pacific market. The cost of manufacturing corrugated boxes has been increasing over the years and wraparound packaging would help the manufacturers to reduce overall cost significantly. The special feature of ready to sell packaging of wraparound reduced waste and replacement cost. Due to the discount pressure in the retail market, in order to intensify its overall profit margin, it is often suggested to use product display options on less labor-intensive by opting wraparound packaging solutions in the product ranges that have maximum demand.
The brands may opt printing on products and on wraparound packaging to customize the designs for short-run sales promotions to be out of box among its competitors. The E-commerce industry has adopted the wraparound packaging for feasible delivery through the retail outlet. As has been observed in many cases, the delivery of the online ordered product is offered by the nearest retail outlet making the packaging easy and convenient. The major advantages of wraparound packaging are: it is more product precise adjustment than the standard box used that consumes more space and protects the consignment during the transit. The market is demanding recyclable product, wraparound is a 100% recyclable product. Wraparound packaging is helpful in the self-promotion of the product and increases awareness in the existing and new markets.
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Wraparound Market: Segmentation
Globally, Wraparound market segmented into many subsets.
- 0.8mm to 1.6mm
- 1.6mm to 3.2mm
- 3.2mm to 5mm
- 5mm and above
By End Use Industry
- Shipping & Logistics
- Food & Beverages
- Manufacturing & Warehousing
- Healthcare & Pharmaceuticals
- Cosmetics & Personal care
Wraparound Market: Regional Outlook
The countries of the Asia Pacific and Latin America are anticipated to give significantly well in the market share of wraparound, due to the fact, that companies of developed economies are establishing its manufacturing units in the above-mentioned locations to meet economies of scale and add competitive advantage over its rivals. China is expected to be the world’s highest exporter and producer of corrugated boxes for packaging followed by India due to the efficient cost of its production. North America and Europe would be among the regions that would innovate the technology of wraparound. Market of wraparound packaging is anticipated to grow at the growing pace in years ahead.
Wraparound Market: Key Players
The leading companies operational in the Wraparound market are Rengo Co., Ltd., MESPACK SL, Crown Technologies, CS Packaging, Inc., Easternpak, Napco National, Cargo International Packagings among others and many indigenous and unorganized companies are likely to give to the worldwide wraparound market in the latest upcoming years.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.