Bizizz Market Research has recently published a research report, “Pallet Wraps Market By Type (Hand Wrap Rolls and Machine Rolls), Thickness (< 15 mm, 15 – 30 mm, 30 – 45 mm and > 45 mm), Film type (Blown Film and Cast Film) Materials (Polyethylene, Polypropylene, PET and Polyamide) End-user (Food & Beverages, Pharmaceuticals, Chemicals & Fertilizers, Personal Care & Cosmetics, Consumer Goods, Automotive and Electrical & Electronics), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Pallet Wraps Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 7.1 Bn by 2027, witnessing a CAGR of 4 % during the forecast period. Key drivers of the market are
Increased demand of load palletization by end user industries including pharmaceuticals, food and beverages, automotive, and electrical and electronics among others are anticipated to fuel its growth in the market. The packaged foods are attaining traction across different nations in which pallets wraps are exponentially utilized. However, pallet wraps offer printability supporting in branding and promotion. These products have higher appeal and contribute to the consumers in an efficient manner of packaging solutions. Moreover, pallet wraps does gets reduced in the packaging volume while transportation and contributes as a favorable for producers contributing to lesser cost during transit. High demand for effective handling, bundling is anticipated to fuel the importance of pallet wraps market.
The Pallet Wraps market is anticipated to register a CAGR of over 4% during the forecast period.
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By Industry, food and beverage segment held a key share in Global Pallet Wraps Market in 2018.
The global market of pallet wraps is evident in the food and beverage had is estimated to had a considerable demand in 2018 and is anticipated to lea during the forecast period. Various companies in the food and beverage sector are inclined towards pallet wrapping and away traditional wrapping. Automated pallet wraps are preferred in various sectors including food and beverage sector owing to high cost savings and also it offers plethora of opportunities to the key players. Food producers are highly spread over various countries and it is important in such organizations these companies to disseminate offerings to maintain its reliable supply chain demand.
Asia Pacific is Anticipated to Dominate the Global Pallet Wraps Market during the Forecast Period.
The retail environment in developing countries is anticipated to exhibit normal growth in during forecast period. The market rate of adopting specialty retailers in developing nations is anticipated to observe high growth. Organized retail environment are general in South Asia and is developing as one of the vital element in impacting the growth of different countries in Asia pacific region. Different end user industries are depended on packaging formats in this region that are efficient during transportation.
Global Pallet Wraps market was moderately consolidated with key players accounting for significant share in 2018. Organizations are adopting various strategies for competing by Foreign direct investment and partnerships are boosting its market demand.
Prominent players operating in the Global Pallet Wraps Market are: 3M, Henkel, Avery Dennison Corporation, Inland Labels, CCL Label Inc., Fuji Seal International, Inc., and UPM-Raflatac, Intertape Polymer Group and Berry Global, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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