Rapid increase in disposable income of the middle-class consumers and rising population are some of the major factors creating opportunities for the vendors in the packaging films market. Also, the rising competition amongst the food and beverages and pharmaceuticals market players has led to increased demand in the packaging films market. As per the evaluations of a newly compiled market research report from IndustryARC, the global packaging market size stood at $90,123 million in 2018 and the demand will grow at compound annual growth rate (CAGR) of 5.20% during the forecast period of 2019 to 2025.
The IndustryARC report, titled “Packaging Film Market: By Color (White, Blue,
Green & Others); By Raw Material Type (LDPE, LLDPE, HDPE); By End-User
Industry (Food & Beverages, Medical & Pharmaceutical); & By
Geography – Forecast (2019 - 2025),” also states that packaging film helps in
protecting the product from ultraviolet radiations and improves shelf life. As the awareness expands, the opportunities will mushroom.
Global Packaging Films Market:
Geographically, APAC accords the maximum growth due to the contribution from China, Australia, and India. The APAC packaging films market is growing because of the demand for packaged food, rise in the disposable income of the middle class, and strengthening healthcare infrastructure. APAC constituted for 45% of the overall opportunities in the global packaging films market, and dominance is anticipated to sustain.
On the other hand, food and beverage
packaging continue to be the key application segment of the packaging films
market, growing at an impressive CAGR of 7.80% during the aforementioned
forecast period. The packaging films industry is a young and innovative sector
with tremendous economic and ecological potential, and APAC has started to
acknowledge the benefits of it and players have started investing ample money in this
Packaging Films Market: Market Trends and Growth Drivers
· Growth in E-Commerce Sector
The robustness for online shopping and direct-to-consumer shipping has had a huge impact on the packaging films market. The usage of packaging films in the e-commerce sector is the most as compared to any other sector. This provides tremendous opportunities in the market for growth.
· Digitalization of Packaging
Digitalization has hit every sector in some other way, including the packaging films market. Companies are spending a huge amount of money for the R&D and innovation of it. Internet of Things (IoT) is opening up a variety of ways to interact with the customers and improve its supply chain management.
· Increasing Sustainability Demands Pushing Product Innovation
Globally, the organizations are working towards the environment and sustainability. The packaging films are now becoming more eco-friendly and are value-added packaging that inspires the customers to buy.
· Target Group Recognition
Target group recognition is one innovation that the major players are working on. Also, digital signage element will help in focusing on the target customers. This is a high-tech solution that the companies are majorly looking at to improve on.
· Maintaining Freshness
The most important growth driver for the millennials is maintaining the simple meat and fruits and vegetables fresh for a longer duration. Due to lack of time and change in the lifestyle of millennials the demand has increased for the packaging films.
Packaging Films Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global packaging films market are AEP Industries Inc., Amcor Limited, Ampac Holdings, LLC, Bemis Company, Berry Plastics Corporation, Charter Nex Films Inc., Dupont Teijin Films, Exopack Holding Corporation, RKW SE, Sealed Air Corporation, Sigma Plastic Group, Graphic Packaging Holding Corporation, Hilex Poly Co LLC, Innovia Films Ltd, and Jindal Poly Films Ltd.
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Fresh Food Packaging Market
What can you expect from the
The packaging films market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories
& Application 11. Demand
Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.