CLEVELAND, Aug. 10, 2017 /PRNewswire/ -- PET film demand in the packaging market is forecast to expand 2.4% annually to 322 million pounds in 2021, faster than any of the major packaging film resins. Growth will be driven by rising barrier requirements, particularly in food packaging. PET's moderate barrier properties can better address these requirements than other commodity resins at a comparable cost. These and other trends are presented in Packaging Films Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand for PET film in food packaging is expected to grow 2.5% per year to 219 million pounds in 2021. Meat, poultry, and seafood and snack food were the two leading outlets for PET film packaging in 2016, together accounting for 40% of demand. In both markets, growth will be stimulated by higher barrier demands. Opportunities in the meat, poultry, and seafood market include heat-and-eat packaging and retort pouches and growth areas in snack food include high barrier, transparent pouches for snack nuts and high-end chip and popcorn bags.
However, according to analyst Ellen Kriz, "Growth will be restrained by competition from high barrier resins such as nylon and PVDC that are well-established in the meat, poultry and seafood market, as well as limited applications in snack food packaging. Most demand for film in snack food packaging derives from polypropylene bags."
More information about the study is available at https://www.freedoniagroup.com/industry-study/packaging-films-in-the-us-by-market-and-resin-3529.htm
Related studies include:
- #3523 Pharmaceutical Packaging in the US, 12th Edition (June 2017)
- #3522 Converted Flexible Packaging in the US, 14th Edition (May 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group