The global BOPET (biaxially oriented polyethylene terephthalate) packaging films market is on a trajectory of robust growth, with a projected compound annual growth rate (CAGR) of 5.5% set to elevate its value from US$ 7.14 billion in 2023 to a substantial US$ 12.31 billion by 2033. This remarkable expansion is driven by several key factors, primarily the escalating demand for clean and high-quality food products.
In 2023, BOPET packaging films accounted for approximately 4.5% of the global plastic film market, demonstrating their significance in the packaging industry. Within this sector, the demand for bags and pouches is expected to remain robust, while tapes and labels are poised for consistent growth in the foreseeable future.
Request A Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-9609
One of the driving forces behind the growth of BOPET packaging films is their ability to extend the shelf life of products, addressing the increasing consumer preference for high-barrier packaging solutions and heightened concerns over food safety.
Furthermore, the surging demand for cosmetics, attributed to factors such as a growing global population, evolving lifestyles, and increased disposable income, is a significant contributor to the market’s expansion. The perishable nature of cosmetics necessitates effective preservation, making BOPET packaging films an attractive and cost-effective choice.
With their exceptional mechanical strength, thermal properties, transparency, and stiffness, BOPET packaging films are not only meeting current market demands but are also poised to cater to emerging trends such as multi-layered packaging solutions, rising pharmaceutical needs, and increased demand in the fast-food sector. These factors collectively contribute to the positive outlook for the BOPET packaging films market in the near future.
BOPET Packaging Films Future Trends
Growing packaging demand is propelling the market forward. BOPET packaging films can extend the shelf life of a product, and the growing consumer base for high-barrier packaging solutions is fueling the market growth. The rising concern about food safety is to propel biaxially oriented polyethylene terephthalate packaging films market growth during the forecast period.
Growth in cosmetics demand, with a growing population, changing lifestyle, and rising per capita disposable income, is the primary factor spurring global BOPET packaging films demand. Cosmetics have a limited shelf life and must be stored properly. Several substitutes, such as aluminum foil, are more expensive than BOPET packaging films, further pushing BOPET packaging films market growth.
All types of biaxial-oriented films have advantageous qualities at low thickness, such as strong stiffness, good heat resistance, and an acceptable oxygen and moisture barrier balance.
Advantageous product features include outstanding rigidity, a smooth surface, excellent clarity, and chemical and abrasion resistance. Increasing pharmaceutical industry product safety needs is likely to generate profitable prospects for biaxially oriented polyethene terephthalate packaging films market expansion throughout the forecast period.
Roadblocks to Demand for BOPET Packaging Films
The technology guarantees speedy, affordable, hot, and fresh deliveries. Since nations like the United States, China, and India have offered different governmental permits to enter new technology, the technology has already become a battleground for businesses.
On the other hand, the implementation of strict regulations and high input costs disturb market expansion. Biaxially orientated polyethene terephthalate (BOPET) packaging films face challenges from the difficulties of recycling plastic films from 2023 to 2033.
Key Takeaways
- By thickness, the market’s 15-30 micron segment is to develop at a CAGR of 6% from 2023 to 2033, valued at US$ 3,448.6 million by 2023.
- The labels segment in the application category in the market is to expand at a CAGR of 6.2% during the forecast period, valued at US$ 775.8 million by 2023.
- By end-use industry category, the fresh produce segment in the market is to rise at a CAGR of 6.9% between 2023 and 2033, valued at US$ 1,222.0 million by 2023.
- The United States market is likely to rise at a CAGR of 4.6% and reach US$ 2,081.73 million by 2033.
- Spanish biaxially oriented polyethene terephthalate packaging films market to develop at a CAGR of 5% from 2023 to 2033, reaching US$ 268.28 million.
- India BOPET films market to expand at a CAGR of 7.1% from 2023 to 2033, reaching US$ 745.60 million.
- China market is to rise at a CAGR of 6.9% and reach US$ 2953.47 million by 2033.
- China may still be a sizable BOPET packaging film market in 2023, with a market share of 74.9%.
- 90.8% of the market share in 2023 belonged to the United States.
- Brazil accounted for 37.3% of the BOPET Films market share in 2023.
- A 28.9% market share in 2023 was held by the German BOPET packaging films market.
Which Region Holds High Revenue-Generating Opportunities for BOPET Packaging Film Suppliers?
“Rise in Demand for Flexible Food Packaging Films Driving Market Expansion in Europe”
Europe represents a significant incremental opportunity for BOPET packaging film suppliers. This can be attributed to growing demand for packaged & processed food in the region. Excellent sealing properties and heat resistance make flexible food packaging films a preferred choice for manufacturing labels & tapes.
Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-9609
Competitive Landscape
The global BOPET packaging films market is considered a fragmented space due to the presence of several regional players. Leading manufacturers of BOPET packaging films are enhancing their production capacities and investing in their existing production facilities to strengthen their foothold in the global market.For instance,
- In February 2020, Jindal Poly Films sanctioned US$ 99.4 Mn investment for the development of its company’s activities in India, including the addition of a BOPET film line and BOPP film line.
Key Segments of BOPET Packaging Films Industry Survey
BOPET Packaging Films Market by Thickness:
- Below 15 Micron
- 15-30 Micron
- 30-50 Micron
- Above 50 Micron
BOPET Packaging Films Market by Application:
- Labels
- Tapes
- Wraps
- Bags & Pouches
- Laminates
BOPET Packaging Films Market by End-use Industry:
- Food
- Meat
- Fresh Produce
- Confectionery
- Dairy
- Others
- Beverages
- Cosmetics & Personal Care
- Electrical & Electronics
- Pharmaceuticals
- Other Industrial
BOPET Packaging Films Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-9609
Key Questions Answered in the Report:
(1) What are the growth opportunities for the new entrants in the Global BOPET Packaging Films industry?
(2) Who are the leading players functioning in the Global BOPET Packaging Films marketplace?
(3) What are the key strategies participants are likely to adopt to increase their share in the Global BOPET Packaging Films industry?
(4) What is the competitive situation in the Global BOPET Packaging Films market?
(5) What are the emerging trends that may influence the Global BOPET Packaging Films market growth?
(6) Which product type segment will exhibit high CAGR in future?
(7) Which application segment will grab a handsome share in the Global BOPET Packaging Films industry?
(8) Which region is lucrative for the manufacturers?
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
