The packaging films market is poised to experience substantial growth throughout the forecast period, driven by the increasing demand for flexible packaging solutions across diverse industries. It is estimated to reach a market value of US$209.7 billion by 2032, with a compound annual growth rate (CAGR) of 3.9% from the 2022 value of US$143.7 billion.
The growth of the market in emerging countries can be attributed to several factors, including urbanization, rising consumer disposable income, and the growing demand for packaged foods. Consumers are increasingly seeking products that utilize natural ingredients and are packaged in environmentally friendly materials. A notable trend in the food industry is the emergence of edible packaging, including edible packaging films. These films, made from food ingredients, are easily digestible, safe for humans and animals, and promote the efficient use of natural resources for packaging purposes.
For instance, the Agricultural Research Services (ARS) of the United States Department of Agriculture has developed casein-based food wraps that are highly nutritious and can be consumed along with the food, thus reducing waste. Furthermore, a multinational team of scientists from Russia and India has created edible packaging sheets using natural materials that completely dissolve in water, ensuring safety for human health and the environment.
FMI predicts that edible packaging films and wraps will bring about a revolution in the packaging industry, setting a new standard in the food market. The aforementioned factors, along with the increasing consumer preference for sustainable and eco-friendly packaging solutions, are expected to drive the adoption of edible packaging films in the future
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Key Takeaways from the Packaging Films Market:
- Polyethylene (PE) films accounted for 35% of the packaging films market in 2021.
- The demand for packaging films in the food industry is expected to grow at a CAGR of 4.2% from 2021 to 2031.
- The packaging films market in India is projected to register a CAGR of 5.6% during the forecast period, followed by China at 4.2%.
- China is expected to remain the largest market, holding a share of 22% in 2021.
- Innovations in the packaging films market are anticipated to accelerate. With strict bans on single-use plastics, there will be a greater focus on recyclable materials. Packaging film producers are expected to prioritize more sustainable materials to stay ahead of the evolving industry trends, as stated by a leading FMI analyst
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.
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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
Packaging Films Sales in China: Factors Driving Growth
The demand for packaging films in China is on the rise, driven by several factors. The country’s growing population, increasing disposable income, and changing consumer lifestyles contribute to the increasing demand across industries. Plastic and flexible packaging films dominate the market due to their versatility and affordability. Additionally, the demand for sustainable packaging solutions has led to the adoption of biodegradable and recyclable films. The booming e-commerce market and shifting consumer habits, particularly in the food and beverage industry, further contribute to the growth. Technological advancements also play a significant role in the development of high-performance packaging films in China.
Germany: Key Contributor to Packaging Films in Europe
Germany stands out as a key contributor to the packaging films market in Europe. The country’s strong manufacturing base, advanced infrastructure, and high consumer demand support the growth of packaging films. Various industries, including food and beverage, pharmaceuticals, personal care, and industrial sectors, benefit from the robust packaging film sector. Germany’s emphasis on sustainability and eco-friendly packaging options has led to the adoption of biodegradable and recyclable films. Stringent packaging waste management regulations in the country further drive the demand for environmentally friendly alternatives. Technological advancements in film production, such as improved barrier properties and advanced printing capabilities, fuel innovation in the market. German businesses focusing on high-quality and environmentally friendly packaging solutions have significant potential in the packaging films industry.
Packaging Films Growth in India: Drivers
India’s packaging films market is experiencing rapid growth due to various factors. The demand for packaged goods has surged in industries such as food and beverage, pharmaceuticals, personal care, and more, driven by population growth, urbanization, and changing consumer lifestyles. Increasing disposable income and the penetration of e-commerce platforms further fuel the demand for effective and visually appealing packaging solutions. Environmental concerns and government initiatives have led to a shift towards environmentally friendly and sustainable films in the market. Technological advancements, including enhanced printability and improved barrier properties, contribute to the market expansion. Both domestic and foreign competitors have opportunities for growth in India’s packaging films market, which is poised for significant expansion
Key Benefits for Packaging Films Market:
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
- It outlines the current trends and future scenario of the market from 2023 to 2033 to understand the prevailing opportunities and potential investment pockets.
- The profiles of key players along with their key strategic developments are enlisted in the report.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
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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 Beverages
- Homecare 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
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