Cling Wrap Market - Forecast (2024 - 2030)

Cling Wrapnbsp;Marketnbsp;Overview

Cling Wrap market size is forecast to reach US$1.7 billion by 2027, after growing at a CAGR of 5.1% during the forecast period 2022-2027. Cling wrap is a flexible transparent plastic film consisting of plasticizers such as polyvinylidene chloride, low-density polyethylene, polyvinyl chloride, and others with strong and highly persistent adherence to surfaces and to itself. It is usually used to package food items in containers. The cling wrap market is primarily driven by the growth of the food and beverage industry. For instance, in February 2022, Food Drink Europe published Q3 2022 report, EU food, and beverage sector production expanded by 0.8% in Q3 2021 and by 2% in Q2 2021. Moreover, the increasing applications of cling wrap in the personal care industry will also accelerate the cling wrap industry growth during the forecast period. 

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COVID-19 Impactnbsp;

In the year 2020, the Covid-19 pandemic impacted the supply chain, which resulted in the shortage of raw materials for the manufacturing of cling wrap. The imports and exports of low-density polyethylene, polyethylene in primary forms, polyvinyl chloride, and other materials declined in 2021, owing to the Covid-19 related regulations. For instance, according to the International Trade Centre (ITC), total global exports of polyethylene with a specific gravity of < 0.94, in primary forms in 2019 were US$ 23,767.4 million, and in 2020 it was US$ 21,779.8 million, a 9.1 percent decrease. Likewise, total global exports of polyethylene with a specific gravity of < 0.94 in 2019 were US$ 25,784.9 million, and in 2020 it was US$ 22,863.7 million, a 12.8 percent decrease. Hence, such a decline in the raw materials supply chain negatively impacted the cling wrap market. However, in the year 2021, production activities were boosted across the countries to foster economic growth the countries, which resulted in the growth of the market. Also, it is projected that the Covid-19 pandemic will end by the end of 2022, which will result in cling wrap industry situations before the Covid-19 pandemic. 

Report Coveragenbsp;

The report: "Cling Wrap Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Cling Wrap Market. 

By Material: Thermosetting Materials (Polyurethane (PU), Polycyanurates, and Others), Thermoplastic Materials (Polyethylene Terephthalate (PET), Low-Density Polyethylene (LDPE), Acrylonitrile Butadiene Styrene (ABS), Ethylene-Vinyl Acetate (EVA), Acrylic, Polyvinyl Chloride (PVC), Polycarbonate (PC), Biaxially Oriented Polypropylene (BOPP), Polyethylene (PE), and Others), and Bio-Based. By Method: Blow Film, Cast Film, Hand-Wrap, Pre-Stretch Films, Machine Wrap, and Others  By Application: Food Wrap, Industrial Wrap, Protective Wrap, and Others  By End-Use Industry: Food and Beverage (Fruits and Vegetables, Poultry, Infant Nutrition, Dairy, Bakery, Confectionary, Fats and Oils, Toppings, Alcoholic Drinks, Non-Alcoholic Drinks, and Others), Medical and Healthcare (Pharmaceuticals and Medical Device), Automotive (Passenger Car, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), Building and Construction (Residential, Commercial, Industrial, and Infrastructure), Consumer Goods (Washing Machine, Refrigerator, Computer, and Others), Industrial (Textile, Metallurgy, Rubber, Pulp and Paper, and Others), and Others. By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa)) 

Key Takeawaysnbsp;

• Asia-Pacific region dominated the cling wrap market, owing to the growing food processing industry in the region. For instance, according to Invest India, India’s food processing industry has grown at an annual growth rate of 11.18% from 2016 to 2020. 

• Factors such as product protection for an extended time, as well as rising customer demand for high-quality and flexible packaging products such as food and beverage, cosmetics, electronics, and others, are fueling market expansion. 

• Moreover, the surging adoption of bio-based cling wrap for sustainable packaging is expected to drive the cling wrap market growth during the forecast period. 

• However, the environmental concerns associated with the materials such as biaxially oriented polypropylene, polyvinyl chloride, and more used during the manufacturing of cling wrap are posing a major restrain for the market growth.

Cling Wrapnbsp;Marketnbsp;Segment Analysis – Bynbsp;Applicationnbsp;

The food wrap segment held the largest share in the cling wrap market in 2021 and is forecasted to grow at a CAGR of 5.6% during the forecast period 2022-2027. Cling wraps are utilized to protect food from insects and microbiological contamination, and dust, to keep it fresh, and to reduce the risk of food waste by extending its shelf life. Consumers are increasingly adopting packaged products with a longer shelf life due to rising health consciousness and awareness about the importance of eating fresh food. For instance, according to the Associated Chamber of Commerce and Industry of India, in 2019, India's food packaging industry was valued at INR710 million (about US$10.37 million), and in 2020 it was INR730 million (about US$10.53 million), an increase of about 2.8%. Thus, the growth of the food packaging market is resulting in the growing application of food wraps, which is accelerating the market growth. 

Cling Wrapnbsp;Marketnbsp;Segment Analysis –nbsp;Bynbsp;End-Use Industrynbsp;

The food and beverage segment held the largest share in the cling wrap market in 2021 and is forecasted to grow at a CAGR of 6.1% during the forecast period 2022-2027. For the food and beverage industry, it is crucial to increase the shelf life of the products. Since wring wrap ensures superior packaging durability, it is often utilized by the food and beverage industry. The production of vegetables, fruits, bakeries, and other product products is surging because of the factors such as increasing disposable income, growing demand for fresh food, and more. For instance, according to the European Union, in 2020 the production of fruits in the European Union countries was about 36.8 million metric tons, and out of this apples and pears production was the highest at 14.3 million metric tons, which was about 38.9% of the production of the total fruit. Hence, as the production of fresh food is surging the demand for cling wrap is growing. This is propelling the cling wrap market growth.