Global Flow wraps market: Introduction
Flow wraps are attractive and durable coverings on products, a process which is known as flow wrapping. The process allows products to be wrapped in clear or printed Polypropylene (PP) film. One of the major reasons for preference for flow wraps is their airtight nature, which enables product protection, and extends the shelf-life of the product. Manufacturers across the world focus on packaging solutions having consumer convenience and experience at the epicentre. Therefore, flow wraps are expected to face sizeable demand as a reliable packaging solution. In addition, flow wraps are used in a wide range of applications that range from cereal bars and chocolates up to a variety of snack foods. The end use industries for the global flow wraps market include the pharmaceutical industry, food & beverage industry, and the chemicals & fertilizers industry, on printed, unprinted, or opaque materials. All these factors, combined with features such as easy-to-peel wrapping, heat resistance, and easy seal ability, enable flow wraps to witness rising penetration in the market. High barrier properties enable absolute protection of the food product from moisture and air, and therefore increase chances for increased use of flow wraps in the market. There, the global flow wraps market is expected to expand at a healthy CAGR over the forecast period.
Global Flow wraps market: Dynamics
The global flow wraps market is expected to grow on the backdrop of the food & beverage industry growth, especially the confectionary food products. The global food & beverage packaging market is projected to expand at a CAGR of 5%, globally, during the forecast period. One of the key drivers expected to have maximum contribution to growth of the global flow wraps market is the high level of competition among manufacturers. Some manufacturers focus on manufacturing flow wraps with special features such as higher resistance to temperature as compared to conventional flow wraps. For instance, heat-seal flow wraps offers better protection of product and further extends the shelf-life of the product than conventional flow wraps. Such features have enabled flow wraps to significantly gain market share from the erstwhile popular conventional packaging, with candies wrapped in foil and paper. The growth in demand of flow wraps is also expected to fuel growth of the flow wrapping machines market, over the forecast period. To enable excellent presentation of the package, flow wraps are designed to be compatible with the latest printing technologies, and are therefore, customizable. Some varieties allow flexographic printing for up to nine colours. These factors are expected to catapult growth of the global flow wraps market.
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Global Flow wraps market: Segmentation
The Flow wraps market has been segmented as follows –
On the basis of Material, the global flow wraps market has been segmented as:
- Aluminium Foil Laminate
- Multi-Layer Laminate
On the basis of application, the global flow wraps market has been segmented as:
- Medical Devices
- Tablets and Capsules
- Ophthalmic Products
- Snack Food
- Nutritional Bars
On the basis of end use industry, the global flow wraps market has been segmented as:
- Food & Beverages
- Pharmaceutical Industry
- Cosmetic Industry
Global Flow wraps market: Geographical Outlook
The global flow wraps market has been divided into seven regions as follows –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)
The North American and Western European regions are expected to lead the global flow wraps market, over the forecast period. However, with growing urban population in the region, coupled with shift in consumer preference, the Asia Pacific region is anticipated to surpass the North America and Europe flow wraps market by the first half of the next decade. Increase in the number of retail outlets and growing penetration of modern trade is expected to be the key contributors to growth of the APEJ flow wraps market, over the forecast period. The Latin American region is also expected to witness healthy growth in the regional flow wraps market, over the forecast period. However, ongoing recovery from the recession of 2015 might hamper growth rate.
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Global Flow wraps market: Key Players
Some of the key players operating in the global flow wraps market are – Amcor Limited, Bemis Company, Inc., Mondi Group, OPM Group, and Multifilm – DDG, among others.
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