An industrial reel wrap is designed for wrapping an industrial reel having a central spool and a pair of end plates connected thereto. The reel wrap includes a central portion that is spannable across a distance between the end plates of the reel. The reel wrap additionally includes first and second side portions that are coupled to the central portion. The first and second side portions each include a number of tabs along the length of the reel wrap. The tabs are securable to the exterior surface of each the end plates, the first and last of the tabs are preferably overlapped to completely enclose the industrial reel. The tabs are separated from the central portion by a double crease seam to enable easier folding of the tabs. The reel wrap may be scored to enable compact folding for shipment.