As per the research conducted by Future Market Insights, during the forecasted period, the global twist wrap film market is expected to account for USD 1.5 billion in 2023 and is going to further expand at a CAGR of 4.3% to get a valuation of USD 2.2 Billion by the year 2033. The sales of the twist wrap film are anticipated to bolster with the top 3 countries projected to hold approximately 25 to 30% of the market in 2023.
Based on the material, the plastic segment is projected to remain the leading among the other materials used for manufacturing twist wrap film. The paper segment is estimated to expand 1.5 times the current market value from 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Size 2023 | USD 1.5 Billion |
| Market Size 2033 | USD 2.2 Billion |
| Value CAGR (2023 to 2033) | 4.3% |
| Collective Value Share: Top 3 Countries (2023E) | 25 to 30% |
According to the FMI analysis, the twist wrap film market revenue totaled USD 1.4 Billion in 2022. With the propelling demand from the various end-use industries, the global twist wrap film market is projected to reach USD 2.2 Billion by 2033, accelerating at a CAGR of 4.3% during the forecast period.
The twist wrap film market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that twist wrap film sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of USD 830.7 Million.
The significantly rising demand for food products such as confectionary items has increased the demand for twist wrap films. The twist wrap film market is anticipated to expand 1.6 times the current market value during the forecast period.
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The global twist wrap film market witnessed a CAGR of 4.0% during the historic period with a market value of USD 1.4 billion in 2022.
The twist wrap film is a thin sheet that is used widely for wrapping around an object to protect and secure the product. It is designed to provide a secure, easy wrap and use, that can withstand extreme temperatures and environmental conditions. The twist wrap films can be available in a variety of modification options. The manufacturers of twist wrap film offer on-demand printability or transparent film attributes.
The twist wrap film is widely used to wrap confectionary products such as candy, gums, chocolates, sweets, etc., due to its beneficial characteristics of twist ability, affordability, and temperature resistance which makes twist wrap film an ideal packaging for the confectionary and other products.
Confectionery packaging is a widely commonly used use of twist wrap film. The need for twist wrap film is being driven by the growing custom of giving gifts to one another on special occasions. Due to its neat and appealing finish, twist wrap film is frequently used to wrap gifts.
Especially within the food industries, packaging innovation has expanded rapidly. The twist wrap film is anticipated to rise as the foundation of the rise of the confectionery industry, driven by the demand for attractive packaging solutions. Twist wrap film's excellent protective characteristics and superior dead fold characteristics ensure that there is no chance of products being damaged by external contamination.
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Based on the material, the plastic segment holds the major portion of the global twist wrap film market. It is anticipated to hold a 45% market share by the end of 2033.
It has superior properties such as high tensile strength, and cost-effective alternatives to conventional material. Plastic twist wrap films are also lightweight, flexible, printable, and customizable as per the demand of the manufacturer which makes ideal packaging. The plastic twist wrap film is also used for lamination on various products which acts as a shield to protect from water and heat to some extent.
As per FMI analysis, the confectionary packaging is expected to expand 1.4 times the current market value during the forecast period.
The confectionery packaging, by application type, is the leading application segment of the twist wrap film market and continues to create a lucrative growth opportunity in the global twist wrap film market. The reason of remain the leading segment can be attributed to the ever-changing demand for food products, which drives the need for innovative packaging solutions that preserve the quality of the product in a cost-effective manner. Twist wrap film offers versatile packaging solutions for confectionaries as they can be customizable according to the demand of the manufacturers.
The US is expected to hold around 81% of the North American twist wrap film market by the end of the forecast period. According to the US Department of Agriculture (USDA), around USD 1.8 trillion worth of food was supplied by the food service and food retailing industry in the US, out of which USD 978 billion worth of food was supplied by the food service facilities in the US The food supplied by the food service facilities may have consumed a large volume of packaging as food is packed in different packaging solutions.
As per the FMI analysis, the Indian twist wrap film market is estimated to expand at a CAGR of 4.5% during the forecast period.
According to India Brand Equity Foundation (IBEF) that the FMCG industry in India would grow at a CAGR of 14.9% from USD 110 Billion in 2020 to USD 220 Billion by 2025. By 2025, it is anticipated that the packaged food market in India would have doubled to reach USD 70 billion. Investors are attracted by the investment in the Indian FMCG market. The twist wrap film market is influenced by the growth of the FMCG market and remains to grow during the forecasted period. The various properties such as easy availability, on-demand printing, use as a lamination, protect shelf life and taste, that twist wrap film make the ideal packaging for confectionary and various retail products.
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The key players operating in the twist wrap film market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows -
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2022 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Sq. Mt., and CAGR from 2022 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material Type, Printability, Thickness, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Amcor plc; LyondellBasell Industries Holdings B.V.; A&M Packaging; Polysack Flexible Packaging; Flexipol; Korozo Flexible; Maxpack Co.; Design Group UK; Packaging Sleeves Printing; Datec Packaging; Pack Fresh Ltd.; A&M Packaging; Ester Industries Ltd.; Sun Pack Corp.; PolyPlex; Constantia Flexibles |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global twist wrap film market was USD 1.4 Billion.
During the forecast period, the global twist wrap film market is anticipated to expand at a CAGR of 4.3%.
The global twist wrap film market is expected to reach USD 2.2 Billion by the end of 2033.
During the forecast period, plastic material is likely to be the fastest-growing material segment in the global twist wrap film market.
The demand for twist wrap film is driven by the growing need for confectionary products and food packaging products.
Amcor plc, LyondellBasell Industries Holdings B.V., A&M Packaging, Polysack Flexible Packaging, Flexipol, Korozo Flexible, and Constantia Flexibles are the top players supplementing the sales of twist wrap film.
As per the FMI analysis, the Indian twist wrap film market is projected to expand at a CAGR of 5.0% from 2023 to 2033.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material 6.2. Printability 6.3. Thickness 6.4. Application 7. Global Market Analysis and Forecast, By Material 7.1. Plastic 7.2. PE 7.3. PET 7.4. PVC 7.5. Others 7.6. Paper 7.7. Metal (Foil) 8. Global Market Analysis and Forecast, By Printability 8.1. Printed 8.2. Non-printed 9. Global Market Analysis and Forecast, By Thickness 9.1. Below 20 Micron 9.2. 20-25 Micron 9.3. Above 25 Micron 10. Global Market Analysis and Forecast, By Application 10.1. Confectionery Packaging 10.2. Candy Wraps 10.3. Chocolate Wraps 10.4. Gums 10.5. Sweets 10.6. Other 10.7. Gift Wrapping 10.8. Personal Care 10.9. Others 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. South Asia 11.5. East Asia 11.6. Middle East & Africa (MEA) 11.7. Oceania 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 18. Oceania Sales Analysis and Forecast, by Key Segments and Countries 19. Sales Forecast by Material, Printability, Thickness, and Application for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Amcor plc 21.2. LyondellBasell Industries Holdings B.V. 21.3. A&M Packaging 21.4. Polysack Flexible Packaging 21.5. Flexipol 21.6. Korozo Flexible 21.7. Maxpack Co. 21.8. Design Group UK 21.9. Packaging Sleeves Printing 21.10. Datec Packaging 21.11. Pack Fresh Ltd. 21.12. A&M Packaging 21.13. Ester Industries Ltd. 21.14. Sun Pack Corp. 21.15. PolyPlex 21.16. Constantia Flexibles
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Twist Wrap Film Market
