Box and carton overwrap films are wrapped over existing packaging. Box and carton overwrap films are used for wrapping several kinds of box packaging for cosmetics, tobacco, and pharmaceuticals. These packaging films help in protecting the products from external factors or moisture. The box and carton overwrap films find their application in various sectors owing to the increasing adoption witnessed significantly in the food sector. Furthermore, the demand for box and carton overwrap films is supported by the increasing use of protective packaging films.
Recyclable Films to Attract Attention
The demand for environment-friendly packaging has been gaining major attraction lately. This shift towards such packaging has given rise to new innovations that are expected to foster the demand growth in the near future. Moreover, the consumers and governing bodies are witnessed stressing on the packaging that that reduces environmental impact, with the use of recycled products. Manufacturers are, therefore, eyeing on opportunities to attain optimum sustainability in packaging solutions. This has given rise to new innovations in the market. For instance, the new X-EnviroShrink by RPC bpi protect contains 30 percent post-consumer recyclate (PCR) and is a completely recyclable solution. The new recyclable shrink film both in plain and printed versions is a well-suited collation shrink that could be used for packaging of a variety of products and markets, including beverage bottles and cans, canned food, and cartons.
Furthermore, the demand for bio-plastics is also increasing significantly owing to the propelling sustainability requirements, thereby triggering new innovations in the box and carton overwrap films market.
Prominent Players to Undertake Acquisition Strategies to Expand Business
Key box and carton overwrap films market players are focusing on acquisition strategies to expand their businesses further. With the help of these developments, the companies are able to extend their market footprint with the help of these acquisitions, and further accelerate their contribution in the box and carton overwrap films market.
For instance, Jindal Films, an India-based manufacturer of film and label purchased a controlling stack in Treofan Europe. According to officials at Treofan, the takeover of the company by Jindal Films would open new global opportunities for the company.
Similarly, another prominent box and carton overwrap films market player, Berry Global Group, Inc., completed the acquisition of a blown polyethylene bags and films manufacturer with a one of its kind e-commerce sales platform, Laddawn, Inc. The high-end technical online capabilities of Laddawn would support Berry Group’s growth through the online sales platform. The combined product portfolio of both the companies would provide a wide range of product to a valued customer base. Such strategies increasingly implemented by box and carton overwrap films market competitors is expected to trigger the growth of box and carton overwrap films market.
On-pack Promotions to Trigger New Innovations
Companies across the globe are using packaging as a means of promotion by various companies. While there are various marketing tools utilized for promotions, the on-pack promotion trend has been greatly influencing the demand for box and carton overwrap films. Manufacturers are aiming at addressing these transforming demands by producing box and carton overwrap films that are compatible with the printing requirements.
The box and carton overwrap films market have witnessed several other developments that are expected to determine the future growth of the market. As stated by an expert team of analysts at Future Market Insights, the box and carton overwrap films market is expected to undergo various developments under the influence of key industry trends. Furthermore, the segmentation analysis and regional evaluation included in the report offer a holistic understanding of the market, thereby assisting the emerging as well as establish box and carton overwrap films market players in better decision making.
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