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The surging adoption of bio-based products is resulting in its growing application in cling wraps, which is further benefiting the Cling Wrap Market growth.

HYDERABAD, TELANGANA, INDIA, January 5, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Cling Wrap Market size is forecast to reach US$1.7 billion by 2027, after growing at a CAGR of 5.1% during the forecast period 2022-2027. Cling wrap is a flexible transparent plastic film consisting of plasticizers such as polyvinylidene chloride, low-density polyethylene, polyvinyl chloride, and others with strong and highly persistent adherence to surfaces and to itself. It is usually used to package food items in containers. The cling wrap market is primarily driven by the growth of the food and beverage industry. For instance, in February 2022, Food Drink Europe published Q3 2022 report, EU food, and beverage sector production expanded by 0.8% in Q3 2021 and by 2% in Q2 2021. Moreover, the increasing applications of cling wrap in the personal care industry will also accelerate the cling wrap industry growth during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Global-Cling-Wrap-Industry-Market-Research-511737

Key takeaways:

This IndustryARC report on the Cling Wrap Market highlights the following areas -

1. Asia-Pacific region dominated the cling wrap market, owing to the growing food processing industry in the region. For instance, according to Invest India, India’s food processing industry has grown at an annual growth rate of 11.18% from 2016 to 2020.

2. Factors such as product protection for an extended time, as well as rising customer demand for high-quality and flexible packaging products such as food and beverage, cosmetics, electronics, and others, are fueling market expansion.

3. Moreover, the surging adoption of bio-based cling wrap for sustainable packaging is expected to drive the cling wrap market growth during the forecast period.

4. However, the environmental concerns associated with the materials such as biaxially oriented polypropylene, polyvinyl chloride, and more used during the manufacturing of cling wrap are posing a major restrain for the market growth.

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https://www.industryarc.com/pdfdownload.php?id=511737

Segmental Analysis:

1. The food wrap segment held the largest share in the cling wrap market in 2021 and is forecasted to grow at a CAGR of 5.6% during the forecast period 2022-2027. Cling wraps are utilized to protect food from insects and microbiological contamination, and dust, to keep it fresh, and to reduce the risk of food waste by extending its shelf life. Consumers are increasingly adopting packaged products with a longer shelf life due to rising health consciousness and awareness about the importance of eating fresh food.

2. Asia-Pacific region is the dominating region as it holds the largest share in the cling wrap market in 2021 up to 39%. The Asia-Pacific economy is driven by the growth of the sectors like food and beverage, personal care, and more such industries in the region. The factors such as increasing food security, increasing population, and other factors are resulting in surging production of food and beverage in the Asia-Pacific region.

3. The food and beverage segment held the largest share in the cling wrap market in 2021 and is forecasted to grow at a CAGR of 6.1% during the forecast period 2022-2027. For the food and beverage industry, it is crucial to increase the shelf life of the products. Since wring wrap ensures superior packaging durability, it is often utilized by the food and beverage industry. The production of vegetables, fruits, bakeries, and other product products is surging because of the factors such as increasing disposable income, growing demand for fresh food, and more.

Competitive Landscape:

The top 5 players in the Cling Wrap Industry are -

1. 3M
2. ADEX S.r.l.
3. Alliance Plastics
4. All American Poly
5. Amcor PLC

Click on the following link to buy the Cling Wrap Market Report:
https://www.industryarc.com/reports/request-quote?id=511737

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Cling Films Market
https://www.industryarc.com/Research/Cling-Films-Market-Research-502924

B. Packaging Film Market
https://www.industryarc.com/Report/15172/packaging-film-market.html

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