Global Food Wrap Film Market Insights Forecasts to 2033

• The Global Food Wrap Film Market Size was estimated at USD 55.98 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.47% from 2023 to 2033
• The Worldwide Food Wrap Film Market Size is Expected to Reach USD 104.79 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Food Wrap Film Market size was valued at USD 55.98 Billion in 2023 and is slated to cross USD 104.79 Billion by 2033, Growing at a CAGR of 6.47% from 2023 to 2033. The cost-effective, light, and easy-to-use food-wrapping film, in comparison with traditional and heavy items that are more expensive, will help to expand the market.

Market Overview

The global food wrap films market caters to the different necessities of the industry with respect to food packaging having a wide variety of flexible packaging offers used to preserve, protect, and increase the shelf lives of food products. Maintaining the food's moisture content, preventing spoiling, and extending its shelf life are the goals of this wrap film. Food wrap films are used typically for the short-term preservation of prepared food. They are also used for the wrapping and packaging of confectioneries such as chocolate and for wrapping meat and seafood products for longer shelf life. Food wrap or film has fostered an effective commercial product in the marketplace only because it turns into a very profitable and/or cost-effective in-packaging material suited for different kinds of food products, from fresh agricultural produce through meat, dairy, and even prepared meals. Supermarkets, grocery stores, and restaurants, even food service establishments, invariably use this type of product. This has stringent use of food wrap film to protect food from contamination, spoilage, and physical damage during storage, transportation, and display. Moreover, manufacturers are always thinking of better ingredients, designs, and functions, which finally brought about consumer-directed strategic changes in perceptions and appetites, thus involving changes in compliance with food safety and specific standards on environmental sustainability.

Report Coverage

This research report categorizes the food wrap film market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the food wrap film market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the food wrap film market.

Driving Factors

The increased rise in the immediate demand for food on the go is a major driver in the food wrap film industry. Food packaging needs to be wrapped so as to maintain the temperature. For instance, aluminum and high-barrier plastics, which include EVOH and polyamide, help to isolate food products from moisture, odor, and atmospheric gases. The acceleration of modern life in developing and developed countries is placing a great amount of pressure on the packaging of food items as a source of non-time-bound consumption of the food prepared.

Restraining Factors

The damages resulting from the toxicities of plasticizers in the food wrapping films based on PVC are harmful to an individual. A person consuming food that has been in direct contact with food wrap films made of aluminum might develop memory loss and dementia. These things kill the demand for food wrap films in the market.

Market Segmentation

the food wrap film market share is classified into material type and end-user. 

• The aluminum segment dominated the market in 2023 and is projected to grow at a CAGR of 75% during the forecast period.

Based on the material type, the food wrap film market is divided into aluminum, plastic, and paper food wrap films. Among these, the aluminum segment dominated the market in 2023 and is projected to grow at a CAGR of 75% during the forecast period. The growth is attributed to aluminum offering very high barrier properties to light, moisture, oxygen, and other contaminants, which keep food with taste, freshness, and nutritional value. This makes the product highly sought after when used to preserve perishable products like meats, baked goods, and dairy products.

• The food service segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the end user, the food wrap film market is divided into retail, food service, and food processing. Among these, the food service segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the working class eating more of the fast and ready-to-eat foods, especially during working hours, so that their time is significantly saved from making any healthy foods for their lunch.

Regional Segment Analysis of the Food Wrap Film Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the food wrap film market over the predicted timeframe.

North America is anticipated to hold the largest share of the food wrap film market over the predicted timeframe. Driven by mature food packaging industries, strict regulations, and sustainability and innovation. High packaging infrastructural advancements, consumer education, and technological advancements all contribute to the adoption of high-quality food wrap films across applications in a range of different fields, including fresh produce, dairy products, and convenience foods.

Asia Pacific is expected to grow at a rapid CAGR in the food wrap film market during the forecast period. Efficient and cost-effective packaging solutions are gaining traction in countries with a growing demand for packaged foods, such as China, India, and Japan. The continuously expanding e-commerce sector and swelling middle-class populations in Asia urge increasing demand for food wrap films to offer consumers, grocery home delivery and ready-to-eat meals.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the food wrap film market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Amcor Plc
• Berry Global Inc.
• Georgia-Pacific LLC
• Hindalco Industries Limited
• Huhtamaki Oyj
• Mitsubishi Chemical Holdings Limited
• Mondi Group
• Pactiv LLC
• Thong Guan Industries Berhad
• Tonesed Company RUSAL Plc
• Speciality Polyfilms
• Guangdong Xintianli Holdings Co. Ltd
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2024, Berry Global, Inc. created a circular stretch film driven by injector ventilation. Its facility was designed to implement the concept of "zero waste" in film production.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the food wrap film market based on the below-mentioned segments: 

Global Food Wrap Film Market, By Material Type

• Aluminum
• Plastic
• Paper

Global Food Wrap Film Market, By End User

• Retail
• Food Services
• Food Processing

Global Food Wrap Film Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa