The story
From Saran, the trade name of a number of monomers and polymers made from vinylidene chloride (especially polyvinylidene chloride or PVDC, because the wrap was originally made of PVDC). Saran was coined by a combination of Sarah and Ann, the names of the wife and daughter of John Reilly of The Dow Chemical Co. + wrap.
Etymology from Wiktionary, CC BY-SA 4.0.