“According to SNS Insider, the Food Packaging Films Market Size was valued at USD 54.65 billion in 2023, and by 2031, it is expected to reach USD 91.13 billion”
The food packaging films market is driven by a several of consumer preferences and technological advancements.
Busy lifestyles and a growing working population, particularly women, have driven a 38% increase in demand for convenient, ready-to-eat meals since 2018. This translates to a rise in the use of films that offer single-serve portion control and extended shelf life. Furthermore, growing awareness of hygiene and safety has led to a 25% rise in consumer preference for tamper-evident and anti-microbial packaging solutions in the last decade.
A 2023 study by The Association of Food and Drug Officials found that 72% of food companies surveyed experienced increased regulatory complexity in the past three years.
This, coupled with fluctuating raw material prices plastic films heavily rely on petroleum creates a squeeze on profit margins. For instance, a mere 10% swing in oil prices can translate to a 5% increase in production costs.
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Major Players Listed in this Report are:
- Amcor Plc
- Coveris
- Sealed Air Corporation
- Mondi Group
- WestRock
- DS Smith
- Graphic Packaging Holding Company
- DuPont Tejin Films
- Charter Next Generation
- Berry Global
The advancements, coupled with rising consumer demand for convenience and minimal processing, offer a fertile ground for innovation in the food packaging films market.
There’s immense potential in active and intelligent packaging films. These films can extend shelf life by 2-3 days for fruits and vegetables, reducing food waste, a major concern as India discards over 68 million tonnes of food annually. By incorporating sensors that monitor freshness or temperature indicators, intelligent films can transform food safety and logistics.
Food Packaging Films Market Key Segments:
By Raw Material
- PET
- Polyethylene
- Polyamide
- Polypropylene
- Others
By Product Type
- Rigid Packaging Films
- Flexible Packaging Films
By End Use
- Food & Beverages
- Healthcare
- Homecare Products
- Industrial Goods
- Others
Rigid packaging films, with a dominant share of over 64% in 2023, have traditionally been the go-to option for their sturdiness and excellent barrier properties.
This segment excels in protecting canned goods, bottled beverages, and dry food items, offering a secure environment against damage and contamination. However, flexible packaging films are rapidly gaining traction, projected to grow at a healthy CAGR.
The food packaging films market navigates a dynamic landscape shaped by external forces.
Fluctuating oil prices, a key determinant in raw material costs, significantly impact production expenses. A 10% swing in oil prices can translate to a 5-7% change in film prices, according to industry experts. This volatility disrupts manufacturer profit margins and influences product pricing strategies. Furthermore, growing environmental concerns are pushing governments to enact stricter regulations. The European Union’s recent ban on single-use plastics, for instance, is expected to drive a 7% surge in demand for sustainable bio-based films by 2030.
The APAC region dominates in the global food packaging films market, holding a dominant share of over 33% in 2023.
The region’s economic powerhouse trio – China, India, and Southeast Asian countries – are experiencing rapid economic growth, leading to a rise in urbanization and a dramatic shift in lifestyles. This translates to a growing preference for convenient, packaged food options, promoting the demand for food packaging films. The vast and ever-expanding population further intensifies this demand.
With rising health consciousness among consumers, governments are implementing stricter regulations on food safety and sustainability. This forces innovation in the food packaging films industry, with a focus on bio-degradable and recyclable materials.
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Recent Developments:
Amcor, recently announced their focus on expanding their portfolio of recycled content films. This aligns with Berry Global’s advancements in biodegradable materials, aiming to reduce plastic waste.
Coveris: Active packaging solutions that extend shelf life and minimize food spoilage. These films incorporate features like oxygen barriers or antimicrobials, catering to the growing demand for fresh, safe food products.
E-commerce’s influence is evident in the industry’s focus on puncture-resistant and discreet packaging films, with companies like Dow exploring new film formulations to meet these needs.
Key Takeaways:
Technology is a key player, with the rise of biaxially oriented films that offer superior strength and clarity.
Asia Pacific is leading the charge, driven by a massive population, a hunger for convenience foods, and a growing focus on health, which often translates to a demand for fresh produce.
Sustainability is another hot topic, with manufacturers striving to create films that use less material and can be more easily recycled.
Table of Contents – Key Points
1 Introduction
2 Research Methodology
3 Market Dynamics
4 Impact Analysis
5 Value Chain Analysis
6 Porter’s 5 forces model
7 PEST Analysis
8 Food Packaging Films Market Segmentation, By Raw Material
9 Food Packaging Films Market Segmentation, By Product Type
10 Food Packaging Films Market Segmentation, By End Use
11 Regional Analysis
12 Company Profiles
13 Competitive Landscape
14 Conclusion
Continue….
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