Packaging Films Market
Packaging Films Market Forecasts to 2028 - Global Analysis By Product Type (Bags, Liners, Pouches, Other Product Types), Raw Material Type (Polyethylene, Polypropylene, Polyester, Polyamide, Cellulosic and Other Raw Material Types), End User (Food, Beverages, Homecare Products, Personal Care Products and Other End Users) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $116 BN |
|
Projected Year Value (2028) |
US $187 BN |
|
CAGR (2022 - 2028) |
8.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Packaging Films Market is accounted for $116 billion in 2022 and is expected to reach $187 billion by 2028 growing at a CAGR of 8.2% during the forecast period. Packaging films are used in a variety of industries, including those that produce food, beverages, home care, personal care, healthcare, electronics, and electrical goods. The demand for packaging films is being driven by the expanding e-commerce industry as well as the surge in demand for consumer goods and health products.
Market Dynamics:
Driver:
Wide usage in end user segments is driving the growth
The market for packaging film is expanding significantly as a result of the rapidly expanding use of films in food packaging. This is attributable to the growing downgauging trend, which has aided in the transition from rigid to flexible packaging. The demand for packaging films has increased as a result of a strong focus on extending product shelf life and decreasing packaging material waste, as well as a rise in the popularity of packaged fresh foods like fruits, meat, vegetables, and seafood. Additionally, increasing investment in the food delivery sector after the pandemic and the rise in food delivery services as a result of maintaining hygiene are crucial factors promoting the market's expansion.
Restraint:
Fluctuating raw material prices
The expansion of the market is anticipated to be hampered by the fluctuating cost of raw materials. Additionally, it is anticipated that the market for plastic packaging films will face competition from other packaging materials.
Opportunity:
Surge in e-commerce business
Due to rising safety concerns following COVID-19, packaging hygiene has regained popularity. Additionally, the period saw an increase in e-commerce, which raised the demand for attractive, practical packaging films that are hygienic and sustainable. Due to its discreet qualities, such as being thicker than conventional clear shrink films to ensure durability and performance while keeping the contents of the shipment private and having higher tear strength, packaging film has become more and more popular in the e-commerce market as a result of the enormous growth in online ordering.
Threat:
Stringent regulations
One of the main factors impeding the expansion of the global packaging film industry is the stringent legislation governing the use of plastics. Worries about increased food packaging and subsequent recycling issues led to the implementation of these laws. Additionally, issues with recycling and susceptibility to deterioration over time are additional concerns and dangers that are further diminishing market growth.
Covid-19 Impact
The demand for film packaging has significantly increased as a result of the COVID-19 pandemic. The market's demand increased significantly as a result of the rise in online shopping and food delivery, which increased the use of packaging film. The production during this time period also reached a permanent plateau as a result of the accelerated shift towards e-commerce.
The polyethylene segment is expected to be the largest during the forecast period
The polyethylene segment is anticipated to hold the largest market share over the forecast period. Polyethylene is a widely used material for making packaging films all over the world. Growing demand for flexible packaging films is anticipated to drive demand for polyethylene during the forecast period. Additionally, companies that manufacture food and beverage products are using polyethylene packaging films more frequently because they have special barrier properties that help with better protection or a longer shelf life. Manufacturers are spending more and more on creating better flexible packaging films to guarantee food safety and freshness, safe distribution and storage, and protection from the elements, which is prospering the market expansion.
The food segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the food segment is anticipated to witness substantial growth. The rising consumer demand for antimicrobial and antioxidant-active food packaging is anticipated to support market growth for package film. To reduce the oxygen concentration inside packaging and prevent microbial growth, packaging film manufacturers are investing in the development of novel antimicrobial and antioxidant-active food packaging, which is fueling the segment.
Region with largest share:
The packaging films market in the Asia-Pacific region had the highest revenue share in 2020 and is anticipated to continue holding the largest market share during the anticipated period. China is anticipated to hold the largest market share in the Asia-Pacific region for packaging films, largely as a result of its sizable middle-class population, rising disposable incomes, and significant market for packaged food and pharmaceutical products. The region's packaging film market is expanding at a significant rate thanks to the region's rising pharmaceutical production.
Region with highest CAGR:
During the forecast period, Europe is expected to experience profitable growth. In 2019, 57.9 million metric tons of plastic were produced worldwide, according to a report released by the Plastics Europe Association of Plastics Manufacturers. This represents a nearly 16% market share for Europe. Germany is noted to be the top consumer of plastic, and about one-fourth of the plastic produced in Europe is consumed by German consumers. Following this, Spain, France, and Italy all experience steadily rising plastic demand, which ultimately fuels the market's expansion.
Key players in the market
Some of the key players profiled in the Packaging Films Market include Aep Industries Inc., Amcor Plc, AMPAC Holdings, Berry Plastics Corporation, Charter Nex Films, Condi-Film International Packaging, Dupont Teijin Films, Exopack Holding Corporation, Graphic Packaging Holding Corporation, Hilex Poly Co, Huhtamaki Oyj, Jindal Poly Films Ltd, Mondi Group, Novolex, Printpack, RKW SE Group, Sealed Air Corporation, Smurfit Kappa, WestRock Company and Winpak.
Key Developments:
In May 2022, Jindal Poly Films Limited (JFPL) signed a contract with Brookfield Asset Management to sell a small portion of its packaging film business. The company decided to spend INR 2,000 crores (USD 260 million) in the business with institutional partners (collectively referred to as "Brookfield").
In March 2022, SAES Coated Films and RKW Group partnered to develop premium performance films for sustainable food packaging that aimed to offer high protection throughout the product lifecycle.
Product Types Covered:
• Bags
• Liners
• Pouches
• Sachets & Stick Packs
• Tapes & Labels
• Wraps & Rolls
• Other Product Types
Raw Material Types Covered:
• Polyethylene
• Polypropylene
• Polyester
• Polyamide
• Cellulosic
• Other Raw Material Types
End Users Covered:
• Food
• Beverages
• Homecare Products
• Personal Care Products
• Electronics & Electricals
• Medical and Pharmaceutical
• Chemicals
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Packaging Films Market, By Product Type
5.1 Introduction
5.2 Bags
5.3 Liners
5.4 Pouches
5.5 Sachets & Stick Packs
5.6 Tapes & Labels
5.7 Wraps & Rolls
5.8 Other Product Types
6 Global Packaging Films Market, By Raw Material Type
6.1 Introduction
6.2 Polyethylene
6.2.1 Low-density polyethylene (LDPE)
6.2.2 Linear low-density polyethylene (LLDPE)
6.2.3 High-density polyethylene (HDPE)
6.3 Polypropylene
6.3.1 Biaxially-Oriented Polypropylene (BOPP)
6.3.2 Cast Polypropylene (CPP)
6.4 Polyester
6.4.1 Biaxially Oriented Polyethylene Terephthalate (BOPET)
6.5 Polyamide
6.5.1 Ethylene vinyl alcohol (EVOH)
6.5.2 Polyvinyl Chloride (PVC)
6.5.3 Polyvinylidene Chloride (PVDC)
6.5.4 Polyvinyl Alcohol (PVOH)
6.6 Cellulosic
6.7 Other Raw Material Types
7 Global Packaging Films Market, By End User
7.1 Introduction
7.2 Food
7.2.1 Meat, Seafood, and Poultry
7.2.2 Ready to Eat Meals
7.2.3 Dairy Products
7.2.4 Bakery and Confectionery
7.2.5 Other Food Products
7.3 Beverages
7.3.1 Alcoholic Beverages
7.3.2 Non-Alcoholic Beverages
7.4 Homecare Products
7.5 Personal Care Products
7.6 Electronics & Electricals
7.7 Medical and Pharmaceutical
7.8 Chemicals
7.9 Industrial
7.10 Other End Users
8 Global Packaging Films Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Aep Industries Inc.
10.2 Amcor Plc
10.3 AMPAC Holdings
10.4 Berry Plastics Corporation
10.5 Charter Nex Films
10.6 Condi-Film International Packaging
10.7 Dupont Teijin Films
10.8 Exopack Holding Corporation
10.9 Graphic Packaging Holding Corporation
10.10 Hilex Poly Co
10.11 Huhtamaki Oyj.
10.12 Jindal Poly Films Ltd
10.13 Mondi Group
10.14 Novolex
10.15 Printpack
10.16 RKW SE Group
10.17 Sealed Air Corporation
10.18 Smurfit Kappa
10.19 WestRock Company
10.20 Winpak
List of Tables
1 Global Packaging Films Market Outlook, By Region (2020-2028) ($MN)
2 Global Packaging Films Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Packaging Films Market Outlook, By Bags (2020-2028) ($MN)
4 Global Packaging Films Market Outlook, By Liners (2020-2028) ($MN)
5 Global Packaging Films Market Outlook, By Pouches (2020-2028) ($MN)
6 Global Packaging Films Market Outlook, By Sachets & Stick Packs (2020-2028) ($MN)
7 Global Packaging Films Market Outlook, By Tapes & Labels (2020-2028) ($MN)
8 Global Packaging Films Market Outlook, By Wraps & Rolls (2020-2028) ($MN)
9 Global Packaging Films Market Outlook, By Other Product Types (2020-2028) ($MN)
10 Global Packaging Films Market Outlook, By Raw Material Type (2020-2028) ($MN)
11 Global Packaging Films Market Outlook, By Polyethylene (2020-2028) ($MN)
12 Global Packaging Films Market Outlook, By Low-density polyethylene (LDPE) (2020-2028) ($MN)
13 Global Packaging Films Market Outlook, By Linear low-density polyethylene (LLDPE) (2020-2028) ($MN)
14 Global Packaging Films Market Outlook, By High-density polyethylene (HDPE) (2020-2028) ($MN)
15 Global Packaging Films Market Outlook, By Polypropylene (2020-2028) ($MN)
16 Global Packaging Films Market Outlook, By Biaxially-Oriented Polypropylene (BOPP) (2020-2028) ($MN)
17 Global Packaging Films Market Outlook, By Cast Polypropylene (CPP) (2020-2028) ($MN)
18 Global Packaging Films Market Outlook, By Polyester (2020-2028) ($MN)
19 Global Packaging Films Market Outlook, By Biaxially Oriented Polyethylene Terephthalate (BOPET) (2020-2028) ($MN)
20 Global Packaging Films Market Outlook, By Polyamide (2020-2028) ($MN)
21 Global Packaging Films Market Outlook, By Ethylene vinyl alcohol (EVOH) (2020-2028) ($MN)
22 Global Packaging Films Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
23 Global Packaging Films Market Outlook, By Polyvinylidene Chloride (PVDC) (2020-2028) ($MN)
24 Global Packaging Films Market Outlook, By Polyvinyl Alcohol (PVOH) (2020-2028) ($MN)
25 Global Packaging Films Market Outlook, By Cellulosic (2020-2028) ($MN)
26 Global Packaging Films Market Outlook, By Other Raw Material Types (2020-2028) ($MN)
27 Global Packaging Films Market Outlook, By End User (2020-2028) ($MN)
28 Global Packaging Films Market Outlook, By Food (2020-2028) ($MN)
29 Global Packaging Films Market Outlook, By Meat, Seafood, and Poultry (2020-2028) ($MN)
30 Global Packaging Films Market Outlook, By Ready to Eat Meals (2020-2028) ($MN)
31 Global Packaging Films Market Outlook, By Dairy Products (2020-2028) ($MN)
32 Global Packaging Films Market Outlook, By Bakery and Confectionery (2020-2028) ($MN)
33 Global Packaging Films Market Outlook, By Other Food Products (2020-2028) ($MN)
34 Global Packaging Films Market Outlook, By Beverages (2020-2028) ($MN)
35 Global Packaging Films Market Outlook, By Alcoholic Beverages (2020-2028) ($MN)
36 Global Packaging Films Market Outlook, By Non-Alcoholic Beverages (2020-2028) ($MN)
37 Global Packaging Films Market Outlook, By Homecare Products (2020-2028) ($MN)
38 Global Packaging Films Market Outlook, By Personal Care Products (2020-2028) ($MN)
39 Global Packaging Films Market Outlook, By Electronics & Electricals (2020-2028) ($MN)
40 Global Packaging Films Market Outlook, By Medical and Pharmaceutical (2020-2028) ($MN)
41 Global Packaging Films Market Outlook, By Chemicals (2020-2028) ($MN)
42 Global Packaging Films Market Outlook, By Industrial (2020-2028) ($MN)
43 Global Packaging Films Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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