The global sales of book wraps are estimated to be worth USD 1.3 billion in 2021 and are anticipated to reach a value of USD 1.7 billion by 2031. Sales are projected to rise at a CAGR of 3.7% over the forecast period between 2021 and 2031. The revenue generated by book wraps market in 2020 was USD 1.2 billion.
Demand for safe and protective packaging from growing industries of e-commerce and publishing fuels the growth of the book wraps market. Thus, new online book sales with shipments being directly made to consumers boost demand for affordable, durable wraps that offer a safeguard for the safety of products during shipment.
Innovations in eco-friendly packaging materials are attracting the rising concern for environment-friendly solutions among consumers and industries. Further support is provided to the demand by the growth in self-publishing and a better reach of independent book retailers. Growth in global logistics and subsequent requirement for efficient packing that is safe will also lead to the growth in the market.
Global Book Wraps Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.2 billion |
| Estimated Size, 2021 | USD 1.3 billion |
| Projected Size, 2031 | USD 1.7 billion |
| Value-based CAGR (2021 to 2031) | 3.7% |
The rising popularity of corrugated wrapping and the growing manufacturing industries in emerging countries are driving worldwide demand. The increasing awareness among end users for sustainable book wrapping with the ability to be reused is one of the factors driving the overall growth.
Wrapping boxes made from cardboard are the cheapest form of wrapping which helps to keep the books in good condition and is anticipated to increase demand for wrapping purposes. Book wraps are easy to open and close whereas other benefits associated with the product include easy recyclability and eco-friendly nature.
Such environmental factors are likely to have a positive influence on the world market during the forecast period. Product manufacturers, end-users and retailers see the cardboard box as an environmentally friendly and attractive product with less handling costs, which in turn is elevating the interest in the product hence rising the overall share.
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During the historical period of 2016 to 2020, delivery wrapping boxes have been perceiving a significant rush in front of consumer doorsteps. In the USA, free shipping, faster delivery and more relaxed return policies have driven the demand for book wraps. For instance, in 2019, Amazon announced that they are growing their delivery service in one day to over more than 10 million products.
Rapid urbanization in developing regions, the rise in the international supply chain, the expansion of infrastructure facilities and the surge in per capita income are boosting worldwide demand. Corrugated wrapping is endorsing the rising demand owing to the benefits of grooved paper which can be recycled.
The increasing population and the demand for wrapping books are expected to rise due to the busy lifestyle of people. As cardboard wrapping keeps moisture away from the product and survives long shipping times, it is gradually being implemented by the manufacturers to offer better values to consumers, such factors are expected to drive the global demand for the product.
The E-commerce sector is the most essential segment in applications for book wraps due to the rise in the online shopping industry. The increasing demand for book wrapping boxes made from Kraft liners for the packaging of books ordered online is likely to excite over the forecast period.
Rising individual preferences for online shopping are major factors expected to drive sales over the forecast period. Additionally, online shopping offers advantages over retail shops, such as easy return policies, free shipping and faster delivery that has fueled the preferences for consumers towards online shopping, which in turn will result in growth in the demand of the product.
Moreover, the rising demand for cardboard material type of wrapping solutions across the customers, and manufacturers owing to growing concerns about the more safety of the product is projected to support the growth in the near future.
Many e-commerce companies are concentrating on defensive wrapping solutions in order to move towards paper-based wrapping and minimize plastic wastes. The trend is also projected to hit the book wrapping segment, which is sensitive to outer impacts with better design to make wrapping full-bodied.
Principal Consultant
North America region is expected to hold a significant share in the global book wraps market. The rising awareness among consumers regarding the convention of environment-friendly wrappings is anticipated to drive the demand for the book wraps in North America, over the forecast period.
The initiatives by regional governments for the usage of eco-friendly wrapping products, coupled with the efforts from the Corrugated Packaging Alliance (CPA), a wrapping industry initiative, with a purpose to inspire corrugated wrapping are providing an added stimulus to the growth of this region.
Furthermore, there has not been any regulatory or consumer pressure in the United States earlier for the recycling of cardboard, due to the low price of raw material used for making the target product. However, due to the growth of the e-commerce sector, the demand for cardboard is continuously rising, which, in turn, is creating a need for book-wrapping boxes.
Many major cities, like Massachusetts, Washington, New York, California and Maine have now banned the use of plastic bags and other single-use products which are non-recyclable that are harmful to the environment, in turn, boosting the demand for book wraps.
Asia Pacific region accounts for the maximum demand share in the global market. Whereas, China is the leading country on account of its high concentration of manufacturing units. Growth in the e-commerce sector is projected to benefit product manufacturers in the Asian region. Taiwan and South Korea are likely to showcase an increase in regional demand for book wraps on account of developments in the education sector.
Economies such as India, Indonesia and other developing Asian countries are expected to boost the overall regional demand due to the ongoing developments from end-use industries. Growth in population, high industrialization, emerging economies and the rise of units of manufacturing are the factors that should subsidize confidently to increase the regional share during the forecast period.
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Some of the prominent players in the book wraps
These players hold the majority of the global share in the market. For instance, in 2020, Mondi Group had partnered with Mexican book wrap company, Cartro, to supply sustainable wrapping solutions for books and other products.
The leading manufacturers are aiming on developing countries that are projected to show potential for the development of the industry in the near future. It is essential for book wrap manufacturers to invest more in technology so as to automate the process of production. As the industries are slowly moving towards intensive capital, there is a need to achieve scale economically. It can be achieved by the divergence in various forms of wrapping
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments by box type, by size and by geographies.
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Book Wraps Market
