The global packaging films market size was USD 107.71 Billion in 2021 and is expected to register a revenue CAGR of 6.2% over the forecast period, according to the latest report by Reports and Data.
Consumer desire for packaged foods has changed as living levels in developing nations like China and India have increased. During the forecast period, a rise in packaged food demand is anticipated to have a favourable impact on the market for packaging films. The packaging films have advantageous mechanical qualities that aid in keeping integrity and successfully carrying out their design activities during processing, storage, and consumer handling. Produce in-store bags, tray covers for institutional deliveries, bags-in-a-box, food bags, industrial shipping liners, bubble packing, envelops, and overwraps are the principal uses for the packaging films.
During the projected period, increasing public concern over environmental deterioration is anticipated to fuel demand for packaging film comprised of bioplastics. A growing number of businesses are introducing eco-friendly material substitutes such bioplastics, recyclable materials, and paper-based packaging, such as Unilever's Carte d'Or, Nestle, and Nature's Way. Manufacturers are spending more money on the development of biodegradable, sustainable, and non-toxic packaging films. During the anticipated period, these variables are anticipated to fuel market expansion.
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Some Key Highlights from the Report
- The packaging films market has been divided into polypropylene, polyethylene, polyester, PVC, and others based on the materials used in packaging. The segment of polyethylene packaging materials is anticipated to hold the biggest market share over the forecast period. The creation of packaging films uses polyethylene extensively all around the world. During the forecast period, increasing demand for flexible packaging films is anticipated to fuel demand for polyethylene. Low-density polyethylene films, linear low-density polyethylene films, and high-density polyethylene films are all part of the polyethylene segment.
- The Asia Pacific region's packaging films market had the highest revenue share in 2020. Over the projected period, the region's packaging films market revenue is anticipated to grow at the fastest rate. One of the main factors driving the demand for packaging films among the producers of the food and beverage sector is the shift in customer preference toward packaged food in developing countries as a result of the rise in their disposable incomes in order to preserve the quality of food goods. As manufacturers work to prolong the shelf life of processed food goods, the presence of sizable processed food and beverage industries in nations like China and India is anticipated to fuel the expansion of the packaging films market in the area.
- Amcor introduced the AmSky blister system in April 2021, which has the potential to revolutionise the sustainability of medical packaging. The new solution is anticipated to aid Amcor's healthcare clients in improving the recyclable nature of their packaging.
- Companies profiled in the market report include Amcor, ProAmpac, Berry Plastics Corporation, Charter Next Generation, DuPont Teijin Films, Novolex, RKW Group, Jindal Poly Films Ltd, Graphic Packaging International, LLC, Cosmo Films, has been profiled in the report.
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- For the purpose of this report, Reports and Data has segmented the global packaging films industry into Packaging Materials Outlook, Application Vertical Outlook, Regional Outlook:
Packaging Materials Outlook (Revenue, USD Billion; 2019-2030)
- Polypropylene
- Polyethylene
- Polyester
- PVC
- Others
Application Vertical Outlook (Revenue, USD Billion; 2019-2030)
- Medical pharmaceutical packaging
- Industrial packaging
- Food and Beverage packaging
- Consumer products packaging
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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