Pallet Wraps Market Size, Key Trends & Projected Growth from 2023 to 2030
The estimated size of the global pallet wraps market was approximately USD 6 billion in 2022, with an expected substantial growth rate exceeding 4% from 2023 to 2030. The Asia Pacific region is noted to possess the largest market share in the base year and is projected to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period. The significant adoption of the product in the packaging industry, aimed at reducing product loss and ensuring worker protection, is anticipated to be a key driver for the substantial growth of the pallet wraps industry.
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Market Trends:
- The increasing demand for e-commerce: E-commerce is growing rapidly, and this is driving the demand for pallet wraps. Pallet wraps are used to protect goods during shipping and handling, and they are essential for ensuring that goods arrive at their destination in good condition.
- The growing demand for sustainable packaging solutions: Pallet wraps are increasingly being made from sustainable materials, such as recycled plastic and biodegradable plastics. This is appealing to consumers and brands alike.
- The increasing popularity of stretch wrap machines: Stretch wrap machines automate the pallet wrapping process, which can save time and labor costs. This is making stretch wrap machines more attractive to businesses of all sizes.
- The growing adoption of pallet wraps in new industries: Pallet wraps are no longer just used in the food and beverage industry. They are now also being used in a wide range of other industries, such as pharmaceuticals, electronics, and machinery.
According to the recent report published by RC Market Analytics, the Global Pallet Wraps Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the pallet wraps market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the pallet wraps industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
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Geographically, the pallet wraps market report comprises dedicated sections centering on the regional market revenue and trends. The pallet wraps market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Pallet wraps market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 – 2030.The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
The Pallet Wraps Market Segmentation:
By Product Type:
- Hand Wrap Rolls
- Machine Rolls
By Thickness:
- 15-30 mm Pallet Wraps
- 31-45 mm Pallet Wraps
- >45 mm Pallet Wraps
By Material:
- Polyethylene
- Polypropylene
- Polyethylene Terephthalate
- Polyamide
- PVdC
By Film:
- Blown Film
- Cast Film
By End-Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals & Fertilizers
- Personal Care & Cosmetics
- Consumer Goods
- Automotive
- Electrical & Electronics
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Some of the prominent market players operating in the global pallet wraps market are Intertape Polymer Group Inc., Berry Global Inc., Scientex Berhad, Aep Industries Inc., Sigma Stretch Film Corp., Coveris, Rosenflex (United Kingdom) Limited, Polifilm GmbH, Anchor Packaging Inc., and Paragon Films Inc.
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Key Questions Answered by Pallet Wraps Market Report:
- Product popularity and adoption based on various country-level dynamics
- Regional presence and product development for leading market participants
- Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
- Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to Pallet Wraps market
- Analysis of the key factors driving and restraining the growth of the global, regional and country-level markets from 2020-2027
About Us: RC Market Analytics is a global market research firm. Our insightful analysis is focused on developed and emerging markets. We identify trends and forecast markets with a view to aid businesses identify market opportunities to optimize strategies. Our expert’s team of analysts’ provides enterprises with strategic insights. RC Market Analytics works to help enterprises grow through strategic insights and actionable solutions. Feel free to contact us for any report customization at [email protected].
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