The global twist wrap packaging market size was worth around USD 330 Billion in 2022 and is predicted to grow to around USD 506 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030. twist wrap packaging Industry share By Raw Material, Application, Region
Twist Wrap Packaging Market
The global twist wrap packaging market size was worth around USD 330 Billion in 2022 and is predicted to grow to around USD 506 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030. The report analyzes the global twist wrap packaging market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the twist wrap packaging industry.
To avoid sealing and enable hassle-free unwrapping, twist wrap paper is used to package candy or gifts. Depending on the products that need to be packaged, plastic, cellophane, and paper are used to create the twist wraps. The most popular packaging type used worldwide for chocolate, candy, toffees, lollipops, chewing gum, and bakery goods are twist wrap paper. There is a large selection of twist wrap paper available on the market in a variety of colors with excellent printability. The primary reasons why twist wrap paper is used to package chocolate and candy are its non-stick covering and excellent stretchability.
The growing confectionery industry and the key player's strategies drive the market growth
Confectionery product makers provide a variety of goods including chocolate, chewing gum, candies, toffee, marshmallows, cookies, ice cream, and other products. Additionally, the global twist wrap packaging market expansion is being accelerated by the leading players' increasing investments in advertising campaigns, promotional activities, and social media marketing. However, it is anticipated that government regulations in nations like the United States, Germany, the United Kingdom, China, and India will maintain the quality of these products. The hygienic standards for consumption are ensured by the established federal guidelines and rules. Thus, this is expected to drive market growth over the forecast period.
The high cost of the packaging hinders the market growth
Raw materials like plastic, paper, and metals, which are used to make a variety of flexible packaging products, are becoming more and more expensive. In addition, the price of polypropylene, which is used in resins, bottles, and packing films, has gone higher because of a lack of supply. Due to these factors, the flexible packaging industry's ability to compete has suffered. Thus, the high cost of this packaging is expected to hinder the global twist wrap packaging market growth over the forecast period.
New product launches provide a lucrative opportunity
New product launches are expected to provide an attractive opportunity for twist wrap packaging industry expansion during the forecast period. For instance, in January 2022, Amcor, a pioneer in creating ethical packaging solutions, introduced the AmFiberTM platform of paper-based packaging goods. AmFiber's inventions seek to reimagine the potential of conventional paper packaging by offering a greater range of features and practical advantages to satisfy shifting consumer demands.
Recyclability poses a major challenge
Flexible pouch recycling is laborious and not financially feasible because it requires numerous processes to separate the elements. According to FDA regulations, recycled flexible packaging cannot be used to package food or pharmaceuticals, unlike hard plastic products. Only other applications may make use of recycled material. The collection, sorting, and recycling of waste are all parts of the recycling process. The materials go through washing, shredding, plastic classification, and extrusion during these procedures. End consumers only employ high-quality material production, therefore low-quality materials are disposed of or sent to energy recovery facilities. Thus, recyclability is the major challenge for the twist wrap packaging industry.
The global twist wrap packaging industry is segmented based on raw material, application, and region.
Based on the raw material, the global market is bifurcated into plastics, polyethylene, cellophane, wax paper, polypropylene, polyvinyl chloride, aluminum, and others. The plastics segment is expected to capture the largest market share over the forecast period. The need for plastic packaging in food and beverage applications is anticipated to rise in response to the rising demand for novel products such as flexitanks and retort pouches for bulk transportation and storage of beverages and semi-solid food goods. Plastic is the perfect packing material for perishable goods like fruits, meat, and dairy products because it offers better shock absorption, greater structural and thermal stability, and can act as an insulator. The significant market share of these products is a result of their widespread consumption.
Based on the application, the global twist wrap packaging industry is bifurcated into confectionery packaging, chocolate bars, candy, jelly, gift wraps, and others. The confectionery packaging segment is expected to dominate the market during the forecast period. The segment is expanding as a result of consumers' constantly changing eating habits and consumer behavior. In recent years, there has been an increase in the popularity of consumer buying patterns for confectionary products created with natural ingredients. Döhler estimates that about 50% of confectionary product demands from consumers are for healthier alternatives with at least 60% natural ingredients. Additionally, during the projected period, there will be a large increase in demand for sugar-free confectionary products due to their rising popularity and demand in developed nations. Thus, this is expected to drive segment growth over the forecast period.
|Report Attributes||Report Details|
|Report Name||Twist Wrap Packaging Market Research Report|
|Market Size in 2022||USD 330 Billion|
|Market Forecast in 2030||USD 506 Billion|
|Growth Rate||CAGR of 5.5%|
|Number of Pages||199|
|Key Companies Covered||Polysack Flexible Packaging Ltd., Sunpack Corporation, Rathna Packaging India Pvt. Ltd., Amcor plc, Manish Packaging Pvt. Ltd., Aim Packaging, Mayur Polyfilms Pvt. Ltd., Webpac Ltd, Esterindustries.com, LyondellBasell Industries Holdings B.V., Print Home, Catty Corporation, UFlex Limited, R. R. Flexipack Pvt. Ltd, Huhtamaki, Bomarko, Sunflex Laminators, Mondelez International, and Flex Films among others.|
|Segments Covered||By Raw Material, By Application, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
The Asia Pacific is expected to capture the largest market share during the forecast period
The Asia Pacific is expected to capture the largest global twist wrap packaging market share during the forecast period. This region is the most attractive market for manufacturers of flexible packaging due to higher domestic demand and the availability of inexpensive labor. Therefore, to grow their market share and profitability, market participants concentrate on this region. One of the primary approaches used by top companies to strengthen their positions in the flexible packaging market is expansion and investments. Other prominent strategies include acquisitions, partnerships, and the introduction of new products.
Twist wrap packaging is anticipated to see growth due to factors such as the strengthening of the global economy, an increase in the working population, and increased domestic demand for food and beverage products. Moreover, the growing confectionary industry in the Asia Pacific especially in the country like India and China is expected to provide enormous opportunities for market expansion over the projected period. For instance, India was the world's fifty-eighth-largest market for confectionary goods in 2021, with imports amounting to 42.6 million kilograms and US$107.9 million. India's imports climbed from US$86.5 million in 2017 at a compound annual growth rate (CAGR) of 5.7%, while the amount of confectionary product imports increased at a CAGR of 15.4% from 2017. Thus, this is expected to drive industry growth in the region.
Europe is expected to grow at the fastest rate over the forecast period owing to the rapid economic growth and higher disposable income among consumers. Vendors with cutting-edge machinery and the ability to produce aseptic, retort, anti-counterfeit, and child-resistant packaging have a competitive advantage. Production has increased recently due to the majority of end-user markets, including coffee, pet food, and fresh foods, experiencing healthy expansion. More single-serve options are required by smaller households, and customer demand for more product variations is expanding. This bolsters the broader trend away from rigid systems towards flexible ones, which offer more ease and better suit the requirements of modern lifestyles.
The global twist wrap packaging market is dominated by players like:
By Raw Material
Consumers have always given importance to packaging solutions that are convenient and have an aesthetic look. The twist wrap packaging satisfies both and is used in the packing of the bakery and confectionary items. Twist wrap packaging is used for the packaging of toffees, chocolate bars, and other confectionery items.
The prime factor that is driving the twist wrap packaging is the increasing inclination of consumers towards the twist wrap packaging. Another factor that attributes to the growth of the market is the exceptional quality of the twist retention wrap. The twist wraps that are made from aluminum and wax paper are having increased sales thus augmenting the growth of the market. The waterproof nature of the twist wrap packaging also favors the growth of the market.
According to the report, the global market size was worth around USD 330 billion in 2022 and is predicted to grow to around USD 506 billion by 2030.
The global twist wrap packaging market is expected to grow at a CAGR of 5.5% during the forecast period.
The global twist wrap packaging market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the higher domestic demand and the availability of inexpensive labor.
The global twist wrap packaging market is dominated by players like Polysack Flexible Packaging Ltd., Sunpack Corporation, Rathna Packaging India Pvt. Ltd., Amcor plc, Manish Packaging Pvt. Ltd., Aim Pakcaging, Mayur Polyfilms Pvt. Ltd., Webpac Ltd, Esterindustries.com, LyondellBasell Industries Holdings B.V., Print Home, Catty Corporation, UFlex Limited, R. R. Flexipack Pvt. Ltd, Huhtamaki, Bomarko, Sunflex Laminators, Mondelez International, and Flex Films among others.