Fast-paced lifestyle, increasing living standards and technological advancements have widened the scope of convenience products market. This has led to the growth of eco-friendly alternatives to plastic wrap, such as reusable wrap for the benefit of consumers. The expanding food packaging industry is expected to increase the demand for the reusable wrap in the end-use application such as bread, baked goods and vegetables. The growth in the nutrition industry in the past decade has been a significant factor driving the demand for a reusable wrap with health enhancing features. The reusable wrap market has witnessed a shift from plastic wrap to reusable wrap with no chemical additive. Eco-minded individuals are producing their reusable wrap, which will increase the usage of reusable wrap among individuals. The reusable wear market is a fragmented nature due to a large presence of regional manufacturers such as household manufacturing. The consumer attraction towards hygienic packaging will increase the usage of reusable wrap in the forecast period.
Increasing Consumer Spending Escalating the Demand for Reusable Wrap
The increasing food & beverages industry is likely to escalate the demand for reusable wrap across the globe. One of the prominent factors driving the growth of the reusable wrap market is increasing the household expenditure. Increasing preference for reusable wrap among the middle-class population globally is attributed to rising disposable income and benefits of reusable wrap, such as compostable and chemical-free characteristics, which are factors expected to drive the growth of the reusable wrap market in the near future.
- In 2017, global consumer spending accelerates at 3.0% year-on-year, with consumer spending in the U.S. expected to be the highest. Moreover, China’s consumer expenditure rate is set to increase by 7.4% in 2017 as compared to 2016.
To cut down the amount of single-use of plastics the new wave of startups has popped up to meet the consumer demand and developed sustainable products like straws, reusable wrap and others. These startups are encouraging consumers by marketing a positive message regarding reusable wrap. This leads to increases in the demand for reusable wrap among consumers in the forecast period. The government stringent rules concerning usage of plastic also anticipates the growth of reusable wrap market.
High Price and Maintenance
The reusable wrap is not ideal for all kinds of foods, and they need maintenance after usage. These above mentioned factors lead to restraining the growth of globally reusable wrap. High price of product and less awareness among consumers leads to hampers the growth of reusable wrap market
Global Reusable Wrap Market Segmentation
The global reusable wrap market can be segmented on the basis of a variety of size, end-use application and sales channel.
The global reusable wrap market can be segmented on the basis of variety of size as:
- Small (7 x 8 inch)
- Medium (10 x 11 inch)
- Large (13 x 14 inch)
The global reusable wrap market can be segmented on the basis of a variety of end-use application as:
- Baked Goods
The global Reusable Wrap market can be segmented on the basis of sales channel as:
- Health food Stores
- Third-party Online
- Other Channels
North America is estimated to have a major share in global Reusable Wrap market
North America is estimated to be the largest sector for reusable wrap due to its developed economies and significant rise in food & beverages industry across the region. Developing economies, such as India and China, has witnessed rapid industrial and economic growth in the last few decades. This is a major reason for the growth of the working population, rising educational facilities and increasing health consciousness among the population in such countries. Therefore, in order to provide a proper hygienic food, working organizations are shifting their focus from conventional form of food packaging to reusable food packaging, which leads to increasing the demand for reusable wrap in region.
Global Reusable Wrap Market Key Players
Some of the key market players in the global reusable wrap market are:
- Beeswax Wrap Co.
- Glory bee
- Liliwrap Inc.
- The Cary Company
- Pearlice Group
- Hexton Bee Company
- Abeego Wrap
- Wrag Wrap Co.
The research report presents a comprehensive assessment of the Reusable wrap market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Reusable wrap market segments such as geographies, application and industry.
Reusable wrap market report covers exhaustive analysis on:
- Reusable wrap Market Segments
- Reusable wrap Market Dynamics
- Reusable wrap Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Reusable wrap market regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia)
- East Asia
- South Asia (India, ASEAN)
- Oceania (Australia & New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Reusable wrap report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Reusable wrap market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Reusable wrap market segments and geographies.
Reusable wrap Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and Products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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