The global sales of wrap around label films are estimated to be worth USD 4.7 billion in 2021 and are anticipated to reach a value of USD 7.5 billion by 2031. Sales are projected to rise at a CAGR of 4.9% over the forecast period between 2021 and 2031. The revenue generated by wrap around label films in 2020 was USD 4.5 billion.
Wrap around label films are gaining attention in the global market because of its visual appearance which is enhancing the brand value and distinguishing the products by offering features. Expansion of fast moving consumer goods industry including personal care, food and beverage, etc. is pushing the sales of wrap around label films as they are effective in branding and products information.
The quality and versatility of wrap around label can be enhanced by innovating printing technology such as flexographic and digital printing process. The compatibility of wrap around films with these printing technologies is boosting the market growth.
Global Wrap Around Label Films Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 4.5 billion |
| Estimated Size, 2021 | USD 4.7 billion |
| Projected Size, 2031 | USD 7.5 billion |
| Value-based CAGR (2021 to 2031) | 4.9% |
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Wrap around label films (WAL) are used to make products differentiable due to visual factors. Packaging industry is extensively benefitted from usage of wrap around label films. Wrap around label films create a brand value and provide extensive features to a product and increases its point of sales.
Some of the major properties include resistance to water, heat sealing, tamper evident, colour protection and tear strength. WAL films are mostly used in FMCG, healthcare, cosmetics and personal care industries. Most importantly wrap around label films can be easily customized in accordance to desirable attributes stated by client. These factors will augment the demand for wrap around label films in the forecasted period.
Wrap around label films are an important product for brand owners in packaging of their products. This market is majorly driven by need of sustainable packaging for unique identification of an exquisite product and differentiate it from other products available in the market.
Increasing concerns of resource degradation and environment protection, the factor for sustainability also contribute to the rise in demand for biodegradable wrap around label films. Rise in FMCG sector will exponentially increase the demand for wrap around label films during forecast period. These factors are anticipated to accelerate the wrap around label films market.
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Manufacturers are aiming for a continuous product level improvement in wrap around label films. Major opportunity has risen in recent times as stores and hypermarkets has enhanced the 360-degree product wrapping which has ascended the growth of wrap around label films market.
Cosmetics, home care and healthcare industries have significantly increased the usage of wrap around label films to differentiate their product in market. This factors have created vast opportunities for key players in wrap around label films market.
Changing environmental protection policies and implementation of stringent rules and regulations has created a surge in production of biodegradable wrap around films. This trend has gained a prominent base in North American and European markets, and is continuing to spread across the globe.
Moreover, upcoming printing technology such as UV, Flexography and Gravure is showing promising results in trial runs. These trends will positively impact the target market towards a profitable future.
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High costs and recycling issues are the factors which pose a threat to growth of wrap around label films market. But with changing trends and adoption of biodegradable wrap around label films the recycling issues are overcome and it augments the demand of wrap around label films for the forecast period.
Global Players:
APAC Players:
The players operating in the wrap around label films market are trying to increase their market reach by expanding their presence in the untapped regions. Also, the key players are trying to focus on increasing their production capacity by developing their manufacturing facilities or through acquisitions:
South Korea will capture a significant portion of the wrap around label films market by the end of the 2031 due to an exponential increase in packaging for personal care & cosmetics, pharmaceutical products. Also, factors that will lead to South Korea’s rise in market share are low tax rate on cosmetics and personal care products and skilled labour which is extensively available and cheap.
The increasing numbers of South Korean end-use industries such as FMCG, online retail, home care products will cause a positive impact of the country’s share in APAC market. All these factors considered South Korea will have a major hold in the wrap around label films market during forecast period.
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Wrap Around Label Films Market
