A method for packaging plastic material using a film to surround the material, and more particularly to a method for packaging hot melt adhesives, the resulting package formed thereby, and the film composition used therein. The method is preferably a coextrusion process for packaging a pressure sensitive hot melt adhesive by extruding a hot melt adhesive through a die orifice, and coextruding a wax-based polymeric film to surround the hot melt adhesive. The coated adhesive may then be formed into individual packaged units having a finite size and shape. The polymeric film comprises a composition having at least 25% by weight of a wax material, an enthalpy of fusion of at least about 100 J/g, and an elongation value at break of at least about 100%. Any type of hot melt adhesive formulation can be packaged or surrounded by the polymeric film in the process. Also, the specific enthalpy of fusion desired and/or elongation value at break desired for the polymeric film can be obtained by blending an appropriate amount of partially crystalline ethylene-based polymer together with a thermoplastic elastomeric block copolymer and/or an ethylene based or propylene-based elastomer.