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Global Packaging Films Market is Likely to Reach Worth of US$ 223.5 billion at a CAGR of 4.1% by Forecast Period 2033 End | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / June 5, 2023 / With a CAGR of 4.1% from 2023 to 2033, the packaging films market is anticipated to reach US$ 149.6 billion in 2023 and US$ 223.5 billion by 2033.

Future Market Insights, Inc., Monday, June 5, 2023, Press release picture

The global packaging film industry is predicted to expand significantly due to increased application in pharmaceutical, food and beverage, and other industries. The rising middle-class population and increased disposable income are predicted to propel the packaged food and personal care goods business. Over the forecast period, rising demand in these industries is expected to contribute to an increase in packaged goods and packaging films.

Developing economies are investigating the various advantages of packaged products in a variety of industrial areas to boost demand for packaging films. Plastics have non-corrosive, light, and relatively inexpensive properties that are predicted to boost global market growth for packaging films.

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Driving Forces Reshaping the Packaging Films Industry: A Dynamic Landscape of Innovation and Sustainability.

Several important driving forces are altering the market in a dynamically expanding industry. To begin with, the increased need for sustainable and eco-friendly packaging solutions has fueled the creation of biodegradable and compostable films, which cater to environmentally concerned consumers.

Second, technological advances have permitted the creation of high-performance films with improved barrier qualities, maintaining product freshness and prolonging shelf life. Furthermore, the growth of e-commerce has increased demand for flexible packaging films that provide simplicity and durability for shipping and handling.

Changing consumer lifestyles and preferences have spurred the demand for aesthetically appealing and adaptable packaging solutions. Resulting in advancements in printing and finishing processes.

Unveiling Lucrative Opportunities in the Market: A Window to Growth and Expansion

For manufacturers, the packaging films business offers a myriad of attractive opportunities. To begin with, the growing emphasis on sustainability opens the door to the creation and adoption of recyclable and biodegradable films that cater to environmentally sensitive consumers.

Second, the brisk e-commerce industry necessitates the use of tough and protective films to preserve product integrity throughout delivery. The growing popularity of simple, single-serve packaging necessitates the development of novel films that provide portion control and longer shelf life.

The increased consumer demand for aesthetically appealing packaging opens up new markets for high-quality printing and finishing films. Emerging markets and underserved regions provide opportunities for market expansion and global reach.

Challenges Ahead: Restraining Forces Impacting the Packaging Films Industry

Despite its promising growth, the packaging film industry is hampered by several impediments to its expansion. For starters, shifting raw material prices, particularly for petroleum-based films. It can have a substantial impact on production costs, making it difficult for manufacturers to maintain competitive pricing.

Film producers may face compliance issues due to tight rules and requirements surrounding packaging materials, particularly in connection to food safety and waste management. The growing emphasis on sustainable alternatives to standard packaging films may cause market competitiveness and necessitate significant research and development investments.

Geopolitical uncertainty and trade conflicts can disrupt global supply chains and impede material flow, affecting the availability and pricing of packaging films.

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Key Takeaways:

  • The United States may control 20% of the packaging films market.
  • From 2023 through 2033, Germany maintained its 4.4% market share.
  • Japan may control 5.8% of the packaging film industry.
  • From 2023 to 2033, Australia held a 1% market share for packaging films.
  • The Chinese packaging films market is expected to record a 5.8% CAGR until 2033.
  • The Indian packaging films industry is expected to register a 6.4% CAGR between 2023 and 2033.
  • The packaging films market in the United Kingdom is expected to thrive at a 2.9% CAGR between 2023 and 2033.
  • From 2023 to 2033, the Polypropylene (PP) subcategory of the material type category might have a market share of 23.3%.
  • The food segment in the end-use category may account for 33.5% of the market share between 2023 and 2033.

Competitive Market Environment:

The global packaging films market is moderately competitive, with numerous companies vying for market dominance. Packaging films have seen several expansion techniques employed by market competitors in recent years, including acquisitions, mergers, and collaborations.

Packaging films manufacturers are leveraging sustainability to increase their market share. As more consumers pick green firms and charitable endeavours, marketing techniques and brand habits are expected to shift in favor of eco-friendly goods, boosting packaging films sales.

Recent Breakthroughs:

  • Jindal Poly Films Limited (JFPL) announced to sale of a small share of its packaging film business to Brookfield Asset Management in May 2022. The corporation decided to invest INR 2,000 crores (US$ 260 million) in the venture alongside institutional partners (referred to collectively as Brookfield).
  • SAES Coated Films and RKW Group joined in March 2022 to produce premium performance films for sustainable food packaging. To provide exceptional protection throughout the product lifecycle.
    • Meat, Seafood, and Poultry
    • Ready to Eat Meals
    • Dairy Products
    • Bakery and Confectionery
    • Other Food Products
    • Alcoholic Beverages
    • Non-Alcoholic Beverages

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Market By Categorization:

By Material Type:

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyethylene Terephthalate (PET)
  • Polyvinyl Chloride (PVC)
  • Polyamide (PA)
  • Ethyl Vinyl Alcohol (EVOH)
  • Polyvinylidene Chloride (PVDC)
  • Bioplastics
  • Others

By Product Type:

  • Pouches
  • Bags & Sacks
  • Tubes
  • Liners
  • Sachets & Stick Packs
  • Tapes & Labels
  • Wraps/Rolls

By End Use:

  • Food
  • Beverages
  • Homecare Products
  • Personal Care Products
  • Healthcare Products
  • Electronics & Electricals
  • Other Industrial Goods

By Region:

  • North America
  • Latin America
  • Europe
  • The Middle East and Africa
  • East Asia
  • South Asia
  • Oceania

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Table of Content (ToC):

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Material Type, 2018 to 2022

5.3. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Analysis and Forecast By Material Type, 2023 to 2033

Click Here to get Packaging Films Market 333 pages full ToC Report

About the Packaging Division at Future Market Insights (FMI):

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

Explore Research-Related Reports of Packaging:    

Nylon Films for Liquid Packaging Market Size: The global nylon films for liquid packaging market is estimated to value at US$ 454 million in 2022 and is projected to reach US$ 599 million by 2027, at a CAGR of 5.7% during the forecast period.

Japan Polypropylene Packaging Films Market Share: Japan's polypropylene packaging films market is set to gain a valuation of US$ 883.5 million in 2023. Over the next ten years, polypropylene packaging film sales across Japan are likely to rise at 2.1% CAGR.

Micro Perforated Films Packaging Market Trends: According to the new micro perforated film packaging market analysis by Future Market Insights (FMI), the market is expected to develop positively through 2023, with global sales increasing by 3.6% year over year.

High Barrier Packaging Films Market Analysis: The global high barrier packaging films market is expected to surpass US$ 18.5 billion in 2023, and is likely to witness a moderate CAGR of 3.9% in the estimated time frame (2023 to 2033).

Metalized Barrier Films Market Outlook: The global metalized barrier films market size was valued at around US$ 1,969.7 Million in 2021 and is anticipated to reach US$ 3,463.1 Million by the end of 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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