Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 330 Billion | USD 506 Billion | 5.5% | 2022 |
FrequentlyAsked Questions
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.
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