Food Packaging Films Market size to be worth USD 78.45 billion by 2029 : GreyViews
Food Packaging Films Market Size By Material Type (Polypropylene, Polyethylene, Polyethylene Terephthalate, Polyamide, Polyvinyl Chloride, Ethyl Vinyl Alcohol), Product Type (Bags & Sacks, Pouches, Tubes, Sachets & Stick Packs, Liners), End-user (Beverages, Food, Homecare Products) Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 02, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East, and Africa. These are the key regions where the Food Packaging Films market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Food Packaging Films market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Food Packaging Films market are Amcor plc, Berry Global, Coveris, DS Smith, Sealed Air Corporation, Graphic Packaging Holding Company, Charter Next Generation, Mondi Group, DuPont Teijin Films, and WestRock, among others. To achieve a substantial market share in the worldwide Food Packaging Films market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Hoyer Group is one of the most significant manufacturers and distributors present in the global Food Packaging Films market.
This growth of the Food Packaging Films market is significantly driven by the rising demand for fresh and damage-free food. Food packaging film is also an efficient marketing tool for the food and beverages industry. Packaging films are used in various industries like beverages, food, home care, healthcare, personal care, electronics & electrical, and other industrial goods. In the food industry, different sub-industries such as meat, ready-to-eat meals, seafood and poultry, bakery and confectionery, dairy products, and other food products are using different kinds of food packaging films for different purposes. Because they are lightweight, convenient, affordable, safe, and sustainable, packaging films are increasingly being used in homes, restaurants, etc. for packing food and keeping it safe from any kind of contaminants.
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Scope of Food Packaging Films Market Report
|Market Share Unit||USD Million|
|Segments Covered||Material Type, Product Type, and End-Users|
|Regions Covered||North America, Europe, Asia-Pacific, South America and Middle-East and Africa|
|Major Players||Amcor plc, Berry Global, Coveris, DS Smith, Sealed Air Corporation, Graphic Packaging Holding Company, Charter Next Generation, Mondi Group, DuPont Teijin Films, and WestRock, among others.|
Polypropylene segment is expected to be the fastest growing segment in 2021.
The material type segment includes polypropylene, polyethylene, polyethylene terephthalate, polyamide, polyvinyl chloride, and ethyl vinyl alcohol. The polypropylene segment is expected to witness the highest growth rate during the forecast period. The polypropylene material used in making the food packaging film is not affected by humidity which drives the segment’s growth. It gives very moderate permeability to odors and gases and a higher barrier to water vapor. The food packaging films made with polypropylene are very light in weight and do not require much storage space.
The liners segment is expected to be the fastest-growing segment in 2021.
The product type segment includes bags & sacks, pouches, tubes, sachets & stick packs, and liners. The liners segment is expected to witness the highest CAGR during the forecast period. The liners food packaging films are easy to use and are easily available in supermarkets and online stores, which drives the segment’s growth. Furthermore, the liner packaging films can be used to pack any kind of food and beverages, adding impetus to the segment’s growth
The food segment is expected to be the fastest-growing segment in 2021.
The end-users segment includes beverages, food, and home care products. The food segment is expected to have the highest CAGR during the forecast period. The rising awareness regarding nutritional values and the increasing health concerns increases the need for packaging food products in packaging films. Food packaging helps prevent contamination caused by pathogens, bacteria, and other microorganisms. Furthermore, the increasing awareness about airborne diseases increases the demand for safely packaged food items.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Food Packaging Films include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
Asia Pacific region witnessed a major share. The presence of large in the region coupled with growing demand for convenience food products drives the market’s growth in the region. Moreover, the raw materials required for manufacturing food packaging films are also available at cheaper prices in the region, adding impetus to the market’s growth. The people in the Asia Pacific countries, such as China and India, are becoming more cautious about the foodborne diseases caused due to contamination, increasing the demand for the food packaging film market. North America is expected to witness significant growth during the forecast period owing to rising urbanization and rapid and increasing disposable income.
China is the largest Food Packaging Films market globally, with an estimated market share of 29% across the Asia-Pacific region by 2022. The demand for food packaging films in the country has been rising owing to the growing need for convenience as the lifestyle of people in China is busy, and they have a diverse culture. Furthermore, the increasing number of health-conscious people in the region propels the market’s growth.
In the Europe region, Germany is the largest market shareholder in the Food Packaging Films market, with an estimated market share of around 25.11% by the end of 2022. Germany is one of the leading producers of plastic, which is expected to drive the market’s growth in the country. Europe holds nearly 16% market share in global plastic production, which propels the market’s growth.
Covid-19 had a major impact on almost all the industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the food sector have seen increased revenue due to significant changes in consumer preferences toward foods. In addition, the pandemic has led to significant changes in the fooding habits of people across developing and developed countries.
The rising awareness regarding nutritional values and the increasing health concerns increases the need for packaging food products in packaging films. Food packaging helps prevent contamination caused by pathogens, bacteria, and other microorganisms, propel the market’s growth.
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