DELRAY BEACH, Fla.,
Sept. 6, 2024 /PRNewswire/ -- The
report "Packaging Films Market by Application (Food, Beverage,
Pharmaceutical & Healthcare, Personal Care & Cosmetics),
Film (PE, BOPP, BOPET, CPP, PVC, PA, EVOH, Cellulose), Type
(Pouches, Bags, Films & Wraps, Rollstock), Region - Global
Forecast to 2033", is projected to grow from USD 105.4 Billion in 2024 to USD 159.7 Billion by 2033, at a CAGR of 4.7%
during the forecast period. With their versatility, sustainability
and in-tune-with-the-times ability to cater to the needs of both
consumers as well as industries packaging films are becoming
increasingly popular. With the rising demand for eco-friendly
packaging solutions, various options in terms of recyclable,
biodegradable and compostable materials have emerged within the
packaging films space aligned with global sustainability goals.
Packaging films are light which means less fuel is burned in their
transportation and hence lesser carbon emissions. The new
technologies have also facilitated excellent barrier performance
for the packaging films, which serves best to prolong the shelf
life of especially foodstuffs and pharmaceuticals along with
several perishable items. This growing popularity can be attributed
to the convenience, flexibility and facility of providing
tamper-evident packaging in industries including food &
beverage, healthcare and personal care.
Browse in-depth TOC on "Packaging Films Market".
608 – Tables
50 – Figures
419 –
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Personal care & cosmetics segment to be the second
largest growing application during the forecast period.
Packaging films are crucial in the cosmetics and personal care
industry by protecting and displaying a variety of products. These
films are used to package products from creams, lotions, shampoos
and other personal care items. They are designed to protect
products from contamination, light, moisture, and guaranteeing
their freshness and effectiveness over time. The demand for films
is on the rise, in travel sized and single use personal care
products. Single use sachets for facial masks and lotions are
gaining popularity due to their convenience and enhanced hygiene.
Moreover, flexible pouches and tubes are commonly used for shampoos
and conditioners offering usability and reducing waste.
Leading companies in the cosmetics and personal care industry
are using packaging films to enhance their products. For example,
Procter & Gamble employs these films for single use facial mask
packs and convenient pouches. Likewise, L'Oréal integrates quality
films into its packaging for cosmetics and skincare, balancing
functionality with aesthetics. Unilever, for overseas markets of
its shampoos and conditioners along with some other personal care
products focuses on user convenience combined with sustainability.
Packaging films make a significant contribution in the cosmetics
and personal care value chain providing protection, user
friendliness & superior aesthetics across product categories as
well proving its flexibility by adapting newer trends like travel
friendly packaging or single use.
BOPP segment to be the second largest growing film during the
forecast period.
Biaxially oriented polypropylene (BOPP) films are gaining
popularity, for packaging due to their flexibility, affordability
and superior sealing properties compared to other materials. With
BOPP accounting for approximately 80% of the flexible plastic
packaging market its recyclable nature and versatility in both food
and non-food applications have fuelled significant global growth,
particularly in developed and emerging regions. These films find
use in packaging, labelling and laminating processes. Especially in
food packaging, where their moisture barrier, sealability, clarity
and visual appeal are advantageous. The BOPP film market is poised
for expansion driven by the increasing demand for packaged
products, especially in the Asia
Pacific region. Key manufacturers such as Oben Holding Group
and SIBUR BIAXPLEN are scaling up production and focusing on
innovation to meet this surging demand.
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Bags segment accounted for the second largest type of
packaging films
Packaging films play a role, in creating bags used in industries
such as food and beverages, retail, pharmaceuticals and
agriculture. These films provide strength, flexibility and
protection against moisture and contamination ensuring quality and
safety. Various bag types are designed to cater to specific
requirements. For instance, gusseted bags are ideal for keeping
things like coffee fresh while flat bags have their own specific
uses. Ziplock bags are great because they can be resealed easily,
vacuum bags help food stay fresh for longer periods and wicketed
bags are designed for packaging purposes. Well-known companies such
as Sealed Air, Amcor Plc and Berry Global Inc use packaging films
to cater to the growing need for durability, freshness and
convenience.
Asia Pacific is projected to
be the largest region in terms of value during the forecast
period.
Asia Pacific is the
fastest-growing market for packaging films due to its robust
economic growth. According to the International Monetary Fund (IMF)
the region's economic progress in late 2023 has reached a growth
rate of 5.0% for the year. While there have been fluctuations in
growth rates, some economies continue to struggle, with price
pressures while others face the threat of deflation. The packaging
films industry in Asia Pacific is
driven by the surge in e commerce and retail sectors leading to an
increased demand for packaging solutions. The expanding middle
class and urbanization also play a role in boosting the consumption
of packaged goods. Additionally, the growth of the healthcare and
pharmaceutical industries creates a need for advanced packaging
solutions for pharmaceuticals and medical products. Moreover,
regulatory pressures aimed at promoting sustainability are spurring
the development and adoption of innovative environmentally friendly
packaging films.
Key players:
Major companies such as Berry Global Inc. (US), Amcor Plc
(Switzerland), RKW Group
(Germany), Toray Industries, Inc.
(Japan), Mitsubishi Chemical Group
Corporation (Japan), Charter Next
Generation (US), Mylar Specialty Films (UK), Sealed Air (US),
Coveris (Austria), and SRF Limited
(India) and other leading
companies in this market.
Browse Adjacent Market: Packaging Market Research
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