Global Food Packaging Films Market Share Statistics Expected to Reach USD 86.50 Billion By 2030: Polaris Market Research

NEW YORK, Nov. 23, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Food Packaging Films Market Share, Size, Trends, Industry Analysis Report, By Type (Flexible, Rigid); By Material (Polyamide, PE, PET, PP, Polyester, PVC, Others); By Application; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global food packaging films market share was valued at USD 49.83 billion in 2021 and is expected to reach USD 86.50 Billion by 2030, grow at a CAGR of 6.4% during the forecast period.

How Big is Food Packaging Films Market Size & Share?

Packaging film is a thin polymeric material used to preserve and safeguard various food items from harmful bacteria.  Food packaging films prevent the loss of nutrients, color, aroma, and taste while maintaining the functional properties of food. They are used for packaging food products such as cheese, snack items, biscuits, dairy products, liquid & semi-solid food, bakery products, meat, and other dry foods.

Plastic films such as polyethylene, polyethylene terephthalate, polypropylene, polyvinylchloride, polyamide, and ethylene vinyl alcohol are used for packaging food. Factors including rising demand for plastic-wrapped products among consumers due to fluctuating lifestyles and eating habits are majorly driving the demand for food packaging films market.

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Key Highlights of the Report

• Market value data for each segment and sub-segment
• Analysis by geography with consumption of the product/service in the region
• Competitive landscape, which incorporates the extensive company profiles
• The current as well as the future outlook of the industry with respect to recent developments
• In-depth analysis of market perspectives through Porter's five forces analysis
• Dynamics scenario, along with growth opportunities market
• Key strategic initiatives taken by major players

Some of the Top Companies in the Global Market Are:

• Amcor Plc
• AEP Industries Inc.
• Bemis Company Incorporation
• Berry Plastics Group Inc.
• Coveris Group
• Crown Holdings Inc.
• Charter NEX Films Inc.
• Constantia Flexibles Group GmbH
• DS Smith and Packaging
• ExxonMobil Chemical Company
• Graphic Packaging Holding Company
• Linpac Packaging Limited
• Mondi Group
• Plastipak Incorporation
• Stora Enso Inc.
• Sealed Air Corporation
• Sonoco Products Company
• Tetra Oak International S.A.
• The Dow Chemical Company
• Wipak Walsrode GmbH & Co. KG

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Growing demand for convenience food to support the market growth

A rise in per-capita disposable income coupled with an increasing population is expected to support the market growth. Packaged food is protected from barriers and leakage. Packaging also prevents illnesses and contaminants and maintains food quality. These benefits are fueling market expansion. Growing popularity of convenience food such as finger food, chocolate, snacks, and beverages due to their longer shelf life is another factor propelling the industry's growth. Besides, due to sedentary lifestyles, ready-to-eat snacks are gaining high demand, which is anticipated to positively influence the food packaging films market size.

Moreover, the increasing development of new products with higher nutritional value and low damaging effects on the body by convenience food manufacturers is anticipated to augment the industry growth. Green packaging is another type of packaging aimed at reducing environmental pollution and offering benefits such as increased recycling, low energy conservation, reduced plastic use, and efficient transportation. The adoption of this packaging is boosting the food packaging films market sales.

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Recent Developments

In June 2022, Novolex introduced RollStar EZ Open Produce Bags. The reusable grocery bags are easy to open owing to a proprietary recipe. The bags are in various dimensions and gauges, such as compostable variants certified by the Biodegradable Products Institute (BPI).

Segmental Analysis

• Rigid packaging films segment is likely to account for the largest revenue share

Based on type, the rigid packaging films segment is expected to hold the highest revenue share due to its increased use in vegetables, fruits, and other easily crushable packaged foods. Changing consumer lifestyles and growing consumption of bread, sausage rolls, and other snacks, especially in countries like China, India, and the United Kingdom, are estimated to favor the food packaging films market growth. Further, flexible packaging is becoming popular due to increasing technological developments and novel design solutions. Also, flexible packaging requires less material than rigid containers and consumes less power during the formation of packaging product.

• Bakery & confectionery segment industry witnessed the biggest food packaging films market share in 2021

On the basis of application, the bakery & confectionery segment dominated the market and is expected to retain its dominance in the upcoming period.  This is because these products usually require higher water-protective packaging to maintain their shelf life. In bakery & confectionery, packaging films are mainly used for chewing gums, toffees, candies, and chocolates. Factors such as changing consumer lifestyle, particularly among the working urban population, is the prominent factor which has led to increased demand for packaged food and beverage products. Therefore, the packaging industry is continuously adopting the shifting requirements of consumers. These factors are propelling the segment's growth.

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Food Packaging Films Market: Report Scope

Geographic Overview

• Asia Pacific is anticipated to generate the significant growth

Based on geography, the food packaging films market demand in the Asia Pacific region is expected to surge during the anticipated period. Increasing demand for packaged goods in China, Japan, and India owing to the growing urban population and retail infrastructure building is majorly fueling the market growth in Asia Pacific. Growing disposable income and demand for environmentally friendly packaging are expected to boost market growth.

China is the major consumer of packaging because of the presence of various manufacturers and expanding demand for frozen food. In addition, the growing preference for plastic-wrapped pharmaceutical and food products in developing nations is projected to propel market growth in the Asia Pacific.

Moreover, the market is booming in North America due to a surge in investment in the food packaging industry by the leading players. Also, a growing development of manufacturing facilities by key players is further fueling the food packaging films industry's growth.

Browse the Detail Report "Food Packaging Films Market Share, Size, Trends, Industry Analysis Report, By Type (Flexible, Rigid); By Material (Polyamide, PE, PET, PP, Polyester, PVC, Others); By Application; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/food-packaging-films-market

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Polaris Market Research has segmented the food packaging films market report based on type, material, application, and region:

By Type Outlook

• Flexible
• Rigid

By Material Outlook

• Polyethylene
• Polypropylene
• Polyethylene Terephthalate
• Polyester
• Polyamide
• PVC
• Others

By Application Outlook

• Fruits & Vegetables
• Bakery & Confectionery
• Medical and Pharmaceutical
• Consumer Products
• Industrial Packaging
• Meat, Poultry & Seafood
• Convenience Foods
• Dairy Products
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

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SOURCE Polaris Market Research