Sales in EVOH Films for Packaging Market to Increase by 1.9x; Pouches to Contribute Over 35% of Sales
EVOH Films for Packaging Market to Exceed US$ 8.01 Bn with Burgeoning Demand for Food Packaging
In its latest report, Fact.MR presents a comprehensive analysis of the global EVOH films for packaging market dynamics across the leading segments, including product type, application, end-use industry, and region. Additionally, it provides tactical and operational frameworks that are being adopted by key players to gain customer loyalty.
NEW YORK, Jan. 4, 2022 /PRNewswire/ -- The global EVOH films for packaging market size is projected to reach US$ 8.01 Bn, exhibiting growth at a CAGR of 5.05% between 2022 and 2032, predicts Fact.MR. Increasing usage of EVOH films for packaging in the food industry to reduce wastage and prevent chronic diseases associated with food contamination is anticipated to drive the market.
According to the World Health Organization (WHO), every year, around 600 million people fall ill after consuming contaminated food, whereas approximately 420000 deaths occur worldwide because of the same. As EVOH films for packaging provide excellent resistance to hydrocarbons and flex-crack, these prevent food contamination.
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As per Fact.MR, the eco-friendly nature of EVOH films for packaging is also expected to bolster their demand across the globe in the upcoming years. Rapid shift of consumers towards sustainable products with low carbon footprint is likely to fuel the demand for these films.
Besides, EVOH films would help manufacturers to use catchy taglines and graphics on the packaging containers for advertising purposes as printing on these products is easy. This beneficial attribute is also enabling them to provide detailed labelling regarding the ingredients present in their products for surging the brand transparency.
"Increasing usage of EVOH films for packaging in cosmetics and personal care products is anticipated to propel the growth in the near future. These films are set to be extensively utilized in the packaging of lotions and moisturizers that need to be stored in a certain temperature," says a Fact.MR analyst.
Key Takeaways:
- Based on application, the pouches segment is set to hold around 35% of the market share owing to the ongoing development of barrier and seal technologies for these products.
- By end-use industry, the food segment is anticipated to dominate the market in terms of share as EVOH films for packaging help to reduce the contamination of food items.
- The U.S. is likely to account for the largest market share in North America on the back of rapid expansion of healthcare and electronics industries.
- In Asia Pacific, China is projected to hold lion's share as it houses many healthcare companies that require packaging to transport their products to various parts of the world.
Growth Drivers:
- Rising development of e-commerce websites by prominent players to surge the engagement with customers on the personal level is set to drive the growth.
- High demand for organic packaging materials that are easily perishable in nature and do not contain any synthetic ingredient is likely to propel the growth in this market.
- Increasing usage of EVOH films for packaging to store edibles for a longer period of time as these are resistant to organic solvents and oil is anticipated to boost the growth.
Restraints:
- Moisture sensitivity of EVOH films for packaging often surges their oxygen permeability when these are exposed to humidity, thereby hindering their usage.
- Increasing availability of numerous alternative products, such as PE lamination and met-PET films for customers may limit the growth in this market.
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Competitive Landscape
Key players operating in the global EVOH films for packaging market are mainly focusing on new product launches to cater to the high demand from customers present in a wide range of industries. Meanwhile, some of the others are aiming to expand their production capacities to generate more sales and strengthen their positions in this market.
For instance,
- November 2021: Lieb Cellars, a leading wine maker based in Long Island's North Fork, joined hands with Rapak, a provider of flexible packaging to supply its bag-in-box solution. The latter's novel Nylon-EVOH coextruded film would provide high puncture resistance and excellent oxygen barrier, thereby improving the shelf life of premium wine products.
- March 2021: Smurfit Kappa, a renowned corrugated packaging company headquartered in Ireland, introduced the latest EVOH films for its Bag-in-Box solution. The new film is marketed as E Compact 60 and it is capable of lowering the amount of plastic utilized by the firm while manufacturing bags. At the same time, the product would enable the company to reduce its carbon dioxide emissions by 12% and a bag's weight by 16%.
- August 2021: UFlex Ltd, an India-based pioneer in flexible packaging, announced that it is planning to expand the production capacity of packaging films. In Poland, the company aims to broaden the capacity of the BOPET film line to 45,000 TPA. In Purina Dog Chow PET Food, the company has recently replaced PET in EVOH-based BOPP film structure with recyclable monopolymer laminate.
Key Players in the EVOH Films for Packaging Market Include:
- Mondi Group
- Smurfit Kappa Group Plc
- Kuraray Co. Ltd
- Amcor Ltd
- Berry Global Inc.
- Coveris Holdings S.A.
- Winpak Ltd.
- Schur Flexibles Holding GesmbH
- Mitsubishi Chemical Holdings Group
- FLAIR Flexible Packaging Corporation.
- Korozo Packaging
- Nippon Gohsei
- Kaneka Corporation
- Sasol
More Valuable Insights on EVOH Films for Packaging Market
Fact.MR provides an unbiased analysis of the EVOH films for packaging market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global EVOH films for packaging market with a detailed segmentation on the basis of:
Product Type
- Blown Film
- Cast Film
Application
- Pouches
- Trays
- Bags & Sacks
- Wrapping Films
- Lids
- Liquid Packaging Solutions
- Others (Sachets, Bag-in-box, Tubes)
End-use Industry
- Food
- Healthcare
- Personal Care & Cosmetics
- Others (Building, Construction and Electronics Industry)
Region
- North America
- Europe
- South Asia
- East Asia
- Latin America
- MEA
- Oceania
Key Questions Covered in EVOH Films for Packaging Market Report
- The report offers insight into the EVOH films for packaging market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for EVOH films for packaging market between 2022 and 2032.
- EVOH films for packaging market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- EVOH films for packaging market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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