The pallet wrap market will see growth due to the evolving consumer demand for sturdy and durable packaging forms.

A new report has shown that pallet wraps sales are likely to grow by 3.2 percent year-on-year in 2019 and forecasts a volume CAGR of 3.5 percent for market revenues (for the forecast period 2019-2029).

The expansion of the logistics sector has driven the use of pallets as an ideal process to ensure in-transit product security and stability. This has resulted in manufacturers focussing on showcasing a vast portfolio featuring pallet wraps of varying blends and formulations best-suited to end user requirements.

The report, by Future Market Insights, predicts that sales of pallet wraps will continue to increase due to the evolving consumer demand for sturdy and durable packaging forms. This change of consumer attitudes has resulted in constant improvements in the existing packaging models and innovations in the new ones.

Price is the key factor dictating consumer decisions.

This is a reason why end-users would continue to prefer low thickness variants of pallet wraps available at reasonable prices. With end-use industries embracing the automation trend, sales of machine rolls will continue to outdo the sales of hand wrap rolls during the forecast period.  

Polyethylene is the most popular material of use, with global sales estimated to reach approximately $2.6 billion in 2019. The primary advantages of this material are its usability quotient, versatility, easy processability, cost-efficiency, and recyclability. 

Food and beverages will continue to be at the forefront of demand for pallet wraps in 2019 and beyond, says the report. Effective packaging remains a critical variable in ensuring the safe transportation of food and beverage products during bulk transport, and pallet wrap grades continue to befit these requirements.

Leading players in this market are focusing on the establishment of new production facilities and distribution units across lucrative economies of South Asia, with an objective to increase their sales revenues and tapping into new customer bases.

Manufacturers are also rethinking their production processes to align with the sustainability trend, reduce production costs, and enhancing the brand value.

Use of bio-based plastics continues to be in the spotlight as a prominent manufacturing trend, which will help the market players to revitalise their products’ marketability via ‘eco-friendly’ claims.

By New Food Magazine

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