The pallet wrap industry in Korea is estimated to secure a CAGR of 3.2%, with a valuation of US$ 55.8 million in 2024, reaching up to US$ 76.1 million by 2034. Rising consumer demand for water-resistant, efficient, and durable packaging solutions prefers pallet wrap to secure goods in Korea.
The pallet wrap industry in Korea secured a valuation of US$ 53.7 million in 2023, with a CAGR of 2.4% between 2019 and 2023. Rising urbanization, innovations in packaging, and increasing disposable incomes are capturing end users' demand for pallet wrap in Korea. The popularity of superior quality and biodegradable packaging solutions is reducing carbon footprints. It is also improving breathable surroundings, attracting consumers to increase the adoption of pallet wrap in Korea.
Adoption Analysis of Pallet Wrap in Korea
Demand for suitable and secure packaging solutions among consumers is raising the adoption of pallet wrap to protect luxury and essential goods in Korea. Manufacturers are improving their packaging solutions daily to build trust among their consumers and expand the industry revenue. In Korea, diverse industries such as consumer goods, manufacturing, electric, and chemicals rely on secured and advanced packaging solutions for smooth transportation and preferring pallet wrap.
These wraps are accepted among crucial players to pack consumers' goods properly without any leakages for an adequate delivery to express their transparency to their consumers. Manufacturers are taking pallet wrap for convenient, practical, and versatile packaging to reach products in consumers' hands with safety in Korea. They are marketing their valuable brand and products with solid printing technologies such as barcodes, label printing, and other practical solutions to maintain and track their inventory.
Consumers are very conscious about their products and their packaging! They check product packaging style before product quality and warranty. Key players observe these tactics to gain popularity for their products with effective and sustainable packaging solutions in Korea. On the other hand, using simple and clean packaging labels to offer descriptions and engage more audiences is increasing the demand for pallet wrap.
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2024 | US$ 55.8 million |
| Expected Industry Size of Korea by 2034 | US$ 76.1 million |
| Forecasted CAGR between 2024 to 2034 | 3.2% |
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Consumers prefer high-quality and cost-effective packaging solutions, increasing the demand for pallet wrap in Korea. Concerned about the environment, these consumers seek recycled, biodegradable, and eco-friendly pallet wrap to limit corrosion in Korea. Key companies are raising funds to invest in advanced technologies such as automation to reduce labor work and improve efficiency, further increasing the demand for pallet wrap.
Manufacturers ensure the safety of goods during shipping and transportation services by offering non-toxic packaging and adopting safety regulations in Korea. The expanding trade and logistics industries uplift the Korea pallet wrap industry, driving the increase in automation packaging solutions to boost sales.
| Segment | Industry Share in 2024 |
|---|---|
| Machine Rolls | 60.40% |
| Food & Beverage | 38.70% |
Machine rolls are highly sought-after based on product type, projected to capture an industry share of 60.40% in Korea in 2024. Manufacturers prefer these machines for enhancing their packaging solutions with automation services in Korea. Manufacturers increase the adoption of machine rolls for tight and seamless pallet wrap solutions, reducing the risk of product damage in Korea. These manufacturers improve their packaging solutions and offer high-volume packaging within a limited time.
Various businesses and industries are adopting machine rolls for immediate packaging and transportation to consumers' residences to ensure safety and comply with strict regulations in Korea. These machines are firm, large, and suitable for all types and sizes of pallet wrap. Manufacturers offer convenient and flexible packaging solutions by preferring these machines in Korea. The rapidly surging eCommerce significantly increases the adoption of machine rolls to gain popularity in Korea.
Based on end use, the food & beverages sector is likely to lead by registering a share of 38.70% in 2024. The increasing consumer demand for ordering food online and restaurant takeaways is rapidly expanding the adoption of pallet wrap for quick food services. Home delivery personnel quickly reach consumers' residences with food parcels, increasing the adoption of pallet wrap in Korea.
These wraps are accepted among food service providers to reduce the risk of damage and contamination of foods. The food & beverages industry ensures hygiene, proper, safe, water-resistant packaging solutions to secure and easy-to-handle products during transportation, preferring pallet wrap. Consumers prefer excellent food packaging products with safe and high-quality meals, expanding the Korean pallet wrap industry.
Principal Consultant
Key players in the pallet wrap industry in Korea are investing vast amounts in research and development to present innovative and advanced packaging solutions. They are bringing new ideas and experiments to improve their packaging designs and styles to meet end users' desires. They choose suitable materials that maintain proper hygiene and the quality of goods for their consumers through various strategies.
Recent Developments in Pallet Wrap Industry
In 2021, Mondi announced its collaboration with ACMI to develop advanced pallet wrap. They are focused on addressing environmental concerns and developing sustainable and bio-based packaging solutions.
| Attributes | Details |
|---|---|
| Estimated Industry Size in 2024 | US$ 55.8 million |
| Projected Industry Valuation by 2034 | US$ 76.1 million |
| Value-based CAGR 2024 to 2034 | 3.2% |
| Historical Analysis of Pallet Wrap in Korea | 2019 to 2023 |
| Demand Forecast for Pallet Wrap in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the adoption of Pallet Wrap in Korea Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Provinces Analyzed While Studying Opportunities in Pallet Wrap in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Intertape Polymer Group Inc; Berry Global Inc; Coveris; Anchor Packaging Inc; Aep Industries Inc; Paragon Films Inc; Sigma Stretch Film Corp.; Scientex Berhad |
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The sales of pallet wrap in Korea are poised to reach US$ 55.8 million in 2024.
The adoption of pallet wrap in Korea is likely to surpass US$ 76.1 million by 2034.
The demand for pallet wrap in Korea is likely to rise at a CAGR of 3.2% from 2024 to 2034.
Innovation, sustainability, and meeting consumer needs drive pallet wrap manufacturers in Korea.
South Jeolla witnesses rapid growth in pallet wrap demand in 2024.
1. Executive Summary
1.1. Korea Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Thickness
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Thickness, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Thickness, 2024 to 2034
5.3.1. < 15 mm
5.3.2. 15 - 30 mm
5.3.3. 30 - 45 mm
5.3.4. > 45 mm
5.4. Y-o-Y Growth Trend Analysis By Thickness, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Thickness, 2024 to 2034
6. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Product Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product Type, 2024 to 2034
6.3.1. Hand Wrap Rolls
6.3.2. Machine Rolls
6.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034
7. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Material Type
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Material Type, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Material Type, 2024 to 2034
7.3.1. Polyethylene
7.3.1.1. LLDPE
7.3.1.2. LDPE
7.3.1.3. HDPE
7.3.2. Polypropylene
7.3.3. PET
7.3.4. Polyamide
7.3.5. PVDC
7.4. Y-o-Y Growth Trend Analysis By Material Type, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Material Type, 2024 to 2034
8. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Film Type
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Film Type, 2019 to 2023
8.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Film Type, 2024 to 2034
8.3.1. Blown Film
8.3.2. Cast Film
8.4. Y-o-Y Growth Trend Analysis By Film Type, 2019 to 2023
8.5. Absolute $ Opportunity Analysis By Film Type, 2024 to 2034
9. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By End Use
9.1. Introduction / Key Findings
9.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End Use, 2019 to 2023
9.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End Use, 2024 to 2034
9.3.1. Food & Beverages
9.3.2. Pharmaceuticals
9.3.3. Chemicals & Fertilizers
9.3.4. Personal Care & Cosmetics
9.3.5. Consumer Goods
9.3.6. Automotive
9.3.7. Electrical & Electronics
9.4. Y-o-Y Growth Trend Analysis By End Use, 2019 to 2023
9.5. Absolute $ Opportunity Analysis By End Use, 2024 to 2034
10. Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
10.1. Introduction
10.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2019 to 2023
10.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2024 to 2034
10.3.1. South Gyeongsang
10.3.2. North Jeolla
10.3.3. South Jeolla
10.3.4. Jeju
10.3.5. Rest of Korea
10.4. Market Attractiveness Analysis By Region
11. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Thickness
11.2.2. By Product Type
11.2.3. By Material Type
11.2.4. By Film Type
11.2.5. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Thickness
11.3.2. By Product Type
11.3.3. By Material Type
11.3.4. By Film Type
11.3.5. By End Use
11.4. Key Takeaways
12. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Thickness
12.2.2. By Product Type
12.2.3. By Material Type
12.2.4. By Film Type
12.2.5. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Thickness
12.3.2. By Product Type
12.3.3. By Material Type
12.3.4. By Film Type
12.3.5. By End Use
12.4. Key Takeaways
13. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Thickness
13.2.2. By Product Type
13.2.3. By Material Type
13.2.4. By Film Type
13.2.5. By End Use
13.3. Market Attractiveness Analysis
13.3.1. By Thickness
13.3.2. By Product Type
13.3.3. By Material Type
13.3.4. By Film Type
13.3.5. By End Use
13.4. Key Takeaways
14. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Thickness
14.2.2. By Product Type
14.2.3. By Material Type
14.2.4. By Film Type
14.2.5. By End Use
14.3. Market Attractiveness Analysis
14.3.1. By Thickness
14.3.2. By Product Type
14.3.3. By Material Type
14.3.4. By Film Type
14.3.5. By End Use
14.4. Key Takeaways
15. Rest of Korea Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
15.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Thickness
15.2.2. By Product Type
15.2.3. By Material Type
15.2.4. By Film Type
15.2.5. By End Use
15.3. Market Attractiveness Analysis
15.3.1. By Thickness
15.3.2. By Product Type
15.3.3. By Material Type
15.3.4. By Film Type
15.3.5. By End Use
15.4. Key Takeaways
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Thickness
16.3.3. By Product Type
16.3.4. By Material Type
16.3.5. By Film Type
16.3.6. By End Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Intertape Polymer Group Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Berry Global Inc.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Scientex Berhad
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Aep Industries Inc.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Sigma Stretch Film Corp.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Coveris
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Rosenflex (Value (US$ Million) & Volume (Tons)ed Kingdom) Limited
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Polifilm GmbH
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Anchor Packaging Inc.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Paragon Films Inc.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Pallet Wrap Industry Analysis in Korea
