The reusable wraps market refers to the segment of the eco-friendly products market that deals with alternatives to single-use plastic wraps and bags for food storage. These wraps are typically made from materials like beeswax, cotton, hemp, and jojoba oil, and are designed to be washed and reused multiple times.
Reusable wraps are available in variety of sizes such as small, medium, and large. Some of the key drivers of the reusable wraps market include increasing concerns about plastic pollution and a growing interest in sustainable living. In addition, reusable wraps are often seen as a more convenient and versatile option for food storage compared to traditional plastic wrap, as they can be molded to fit a variety of different containers and foods.
The FMCG sector has presence of items such as packaged meals, vegetables, cheese, and healthcare products. In 2022, the FMCG market has grown by 7.3% at the global level, this in turn is expected to foster the demand of reusable wrap market over the forecast period. In addition, increasing household expenditures among the middle-class population is attributed to rising disposable income across countries and hence inhibits the demand of reusable wraps.
The reusable wraps market is broadly segmented into size, materials, application, and sales channel. The size segment is further categorized into small (7*8 inch), medium (10*11 inch), and large (13*14 inches). The materials segment is further sub-divided into bee wax and silicone. The application segment includes breads, cheese, baked goods, vegetables, and others. The sales channel segment constitutes hypermarket & supermarket, convenience stores, online, and others.
The reusable wraps market includes both large established brands and small, independent companies that specialize in eco-friendly products. Some of the key players operating in the market include Bee's Wrap, Abeego, and Stasher, Onya Life, The Beeswax Wrap Company Ltd, Re-Wrap-It, Hexton Bee Company, BeeBae, Eco Snack Wrap, LilyBee Wrap, Criss Elite, Savourio, ARCBLD, and others. Prominent players involved in the marketplace are continuously focusing on business expansion activities through collaborations, new product development, and partnerships across the value chain. For instance, in June 2022, Eco-Products, launched new compostable wrap for sandwiches, snacks, and others. The wrap material is made from wax paper and is further compliance by Biodegradable Products Institute.
As more consumers seek sustainable alternatives to single-use plastics, the reusable wraps market is expected to continue to grow in the coming years. The market is also likely to see increased competition, with new companies entering the market and existing companies expanding their product lines to meet growing demand.
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