Packaging Film Market Overview:
According to the Food and Agriculture Organization of
the United Nations, one third of the food produced in the world is either
wasted or lost in its value chain. A greater part
of this is wasted in the supply chain especially due to improper and inadequate
packaging. Food suppliers have tried out several options over the years to come
up with a lucrative option for food supplication, one of which is making use of
the emerging packaging film market. Packaging film market is experiencing a high
demand from food and beverage industry as not only is it being sold to the
giants including beverage conglomerates, supermarkets and hypermarkets, but it
is also solicited for household purposes as well. Yet, food and beverage
packaging remains to be prominent and this application segment is evaluated to
grow with a healthy compound annual growth rate (CAGR) of 7.80% during the
forecast period of 2019-2025.
In the year 2018, the global packaging film market size stood at $90,123 million. During the forecast period of 2019-2025, the packaging film market will experience growth with a standard CAGR of 5.20%.
Packaging Film Market Outlook:
Packaging is a very important part of the food and beverage supply chain management system. Without a good packaging, food gets damaged while being supplied from one place to another. Packaging films have become popular amongst key market players of the food and beverage industry for various reasons. This product is extremely lightweight while providing protection at the same time. It is also easier to print on packaging film, thus preventing food products from getting lost as they are labelled without fail. Since India is a country with agriculture as its primary occupation and China is a global leader in manufacturing in all sectors, packaging film market has acquired its highest demand from APAC region. In the year 2018, APAC had a massive share of the market equivalent to 45%.
Packaging Film Market Growth Drivers:
Ø Increase In Disposable Income
With the United States of America implementing tax cuts and other countries following suit, houses in these countries have experienced an increase in disposable income. This has led to an increased purchase of packaged food from supermarkets especially from the working class that are consistently short of time. Everything from snack items to frozen foods are now packed by packaging film, thus providing noticeable impetus to the market and acting as an esteemed growth driver.
Ø Packaging Film Is Reliable
Packaging films as many uses both for commercial as well as residential purpose. Since it is chemically a polythene, it is of many kinds including high density polyethylene, low density polyethylene, polystyrene, and propylene. Both colored as well as transparent versions are made use of by these industries. For its lightweight characteristic, packaging film is used in a plethora of products including cereal boxes, disposable utensils, bags for frozen food, yoghurt containers, trash bags, and others.
Packaging Film Market Challenges:
A recurrent issue faced by the packaging film market is its impact on the environment. Key market players often face the brunt of environmental activists and are asked to invest more resources in sustainable forms of packaging such as biodegradable packaging film.
Packaging Film Market Key Players Perspective:
The packaging film market has many key market players including 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, amongt others.
Berry Plastics Corporation is an Indian, USA based plastics company that has been counted as one of the eminent companies in the Fortune 500 global manufacturers list. They have become quite popular in the market for their packaging film products including mono-layer polyethylene bags as well as food film for both microwavable and frozen products.
Packaging Film Market Trends:
Ø The Rise Of Biodegradable Films
Since packaging film is a kind of plastic, it is receiving a considerable amount of attention from environmental conservationists for its extensive use in the food and beverage industry and its inability to get recycled. Key market players have now started investing in biodegrdable packahing film that is procured from food sources such as papaya puree, soy protein and gelatin. These bags are so designed that they offer the same protection as traditional bags, only that they can now be recycled and benefit the environment.
Packaging Film Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Packaging Film Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the Packaging Film Market, and their specific applications in different areas.
Packaging Film Market Report: Industry Coverage
The packaging film market can be segmented on the basis of color, raw material type, and end user industry. Based on color, the market can be divided into white, blue, green, and others. By raw material type, the market can fragmented into LDPE, LLDPE, HDPE, BOPP, CPP, BOPET, EVOH, PVC, PVDC, and PVOH. And on the basis of end user industry, the market can be bifurcated into food and beverages, medical and pharmaceutical, consumer products, industrial, chemicals, and others.
The Packaging Film Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia