The packaging films market is expected to grow significantly over the course of the forecast period as a result of the increased need for flexible packaging solutions across several industries. The market for packaging films is estimated to reach US$ 209.7 billion by that year, with a forecasted CAGR of 3.9% from US$ 143.7 billion in 2022 to US$ 209.7 billion in 2032.
Customers are getting more and more interested in products with natural ingredients and packaging made of sustainable materials. One of the hottest developments in the food sector is edible packaging, which ensures the best use of natural resources for packaging. Flexible and rigid edible packaging, like edible packaging films, are both readily available. Many businesses are producing straightforward, easily digestible edible packaging films, created from food ingredients, and are safe for humans and other animals.
For More Insights on this Market, Get A Sample Report https://www.futuremarketinsights.com/reports/sample/rep-gb-14376
For instance, casein-based food wraps have been developed by the Agricultural Research Services (ARS) of the United States Department of Agriculture. These packing sheets and wraps are highly nutritious because they include milk protein. These flexible packaging films are therefore edible and help reduce waste.
The packaging of foods like vegetables, fruits, fish, meat, poultry, and more may now be done using edible packaging sheets developed by a multinational team of scientists from Russia and India. Because they are made of natural materials, these packaging films completely dissolve in water and are safe for both human health and the environment.
According to FMI’s predictions based on the aforementioned factors, edible packaging films and wraps will provide the packaging industry a new dimension and establish a new standard in the food market.
Key Takeaways from Packaging Films Market
- The polyethylene (PE) films represented 35% of packaging films market in 2021.
- Demand for packaging films in the food industry will grow at a CAGR of 4.2% between 2021 and 2031.
- India packaging films market is projected to register a CAGR of 5.6% during the forecast period followed by China with a CAGR of 4.2%.
- China will continue to remain the largest market with a market. It held a share of 22% in 2021.
- “Innovations are expected to pick up pace in the packaging films market. With stringent bans on single-use plastic use, the focus on recyclable materials will grow higher. Likewise, packaging film producers are expected to focus on more sustainable materials to stay ahead of the curve,” said a lead FMI analyst.
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-14376
Packaging Films Market Landscape
Berry Global, Mondi Group, Ampac Holdings, LLC., Huhtamaki Oyj., Smurfit Kappa, WestRock Company are some of the Tier 1 players of global packaging films market.
Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. Several mergers & acquisitions and innovations are taking place in the industry as there is synergy in forward as well as backward integration. · Recently in March 2022, Clearlake Capital has agreed to acquire Intertape Polymer Group. Intertape is one of the leading manufacturers of packaging films and many other products. Through this acquisition the company is planning to extend production capabilities of tapes and shrink films and increase industrial and retail customers.
- In March 2022, BASF and a Germany located packaging films manufacturer DuoPlast launched world’s first stretch PE blown film for potential use in the explosive areas.
Packaging Films Market By Category
By Material Type, Packaging Films Market is segmented as:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polyamide (PA)
- Ethyl Vinyl Alcohol (EVOH)
- Polyvinyldiene Chloride (PVDC)
- Bioplastics
- Others
Speak to Our Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14376
By Product Type, Packaging Films Market is segmented as:
- Pouches
- Bags & Sacks
- Tubes
- Liners
- Sachets & Stick Packs
- Tapes & Labels
- Wraps/Rolls
By End Use Packaging Films Market is segmented as:
- Food
- Meat, Seafood and Poultry
- Ready to Eat Meals
- Dairy Products
- Bakery and Confectionery
- Other Food Products
- Beverages
- Alcoholic Beverages
- Non-Alcoholic BeveragesHomecare Products
- Personal Care Products
- Healthcare Products
- Electronics & Electricals
- Other Industrial Goods
By Region, Packaging Films Market is segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
