Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "China Plastic Packaging Film - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)" report has been added to ResearchAndMarkets.com's offering.
The China Plastic Packaging Film Market size in terms of shipment volume is expected to grow from 2.21 Million tonnes in 2024 to 2.87 Million tonnes by 2029, at a CAGR of 5.37% during the forecast period 2024-2029.
Key Highlights
- China, a key player in the Asia-Pacific economy, boasts a substantial mid-income demographic, rising disposable incomes, and a robust appetite for packaged foods and pharmaceuticals. Consequently, the market mirrors this vast scale. The surge in food and pharmaceutical offerings within China is a primary driver propelling the demand for barrier films in the nation.
- China recently increased its emphasis on sustainable industrial practices and environmental conservation. With a clear directive, the government is steering the packaging sector toward sustainability, prioritizing recyclability and eco-friendliness. Notably, sustainability and environmental concerns are gaining traction, especially in developed areas, driving a surge in innovative solutions, particularly in the sustainable packaging film segments.
- China is the biggest e-commerce market in the world, accounting for nearly 50% of global e-commerce transactions. The major players in this market include Alibaba, Suning and Dianping, and Gome and Vipshop. Other well-known players include Yihuadian, Dango, Mogujie, and JuMei. The surge in demand for packaging films is primarily fueled by the rapid growth of the e-commerce sector and the increasing need for consumer goods and health products.
- According to the National Bureau of Statistics of China, the e-commerce share of total retail sales in consumer goods in China increased from 20.7% in 2019 to 27.6% in 2023. This upward trajectory is projected to continue, further fueling the demand for packaging films.
- China's healthcare sector is experiencing rapid growth, fueled by increasing health consciousness and an aging demographic. This dynamic landscape offers abundant opportunities for businesses and investors seeking to introduce cutting-edge, top-tier offerings. Notably, China's healthcare industry is one of the largest and most rapidly expanding sectors. The escalating need for enhanced healthcare, encompassing even packaging solutions, is propelling robust growth across diverse healthcare verticals.
- Environmental regulations are steering the industry toward flexible packaging. Compared to rigid alternatives, flexible packaging offers notable environmental benefits. The Chinese government is proactively tackling public awareness regarding plastic packaging waste. They are implementing strict regulations to mitigate environmental damage and bolster waste management. This growing concern over the environmental impact of single-use plastics is prompting consumers to prioritize products with lower environmental footprints and higher sustainability standards.
BOPET Films are Expected to Witness Robust Market Demand
- Biaxially oriented polyethylene terephthalate (BOPET) film plays a pivotal role in flexible packaging and various industrial applications. Its thermal stability, transparency, and robust barrier properties, coupled with high mechanical strength, underscore its indispensability across sectors. From food packaging and electronics to medicine and construction, BOPET's versatility finds widespread applications.
- BOPET film's exceptional gas, odor, and moisture barrier properties have propelled its popularity in food packaging in China. Its neutral odor and taste make it a safe choice for direct contact with food, extending its freshness. Moreover, the film's versatility enables various packaging options, enhancing both convenience and sustainability. These packaging solutions span from snack pouches to containers for ready-to-eat meals.
- According to Agriculture and Agri-Food Canada, the retail sales value of packaged food in China has increased in the past few years and is expected to rise from USD 298.01 billion in 2020 to USD 366.75 billion by 2025. Such an increase in packaged food is expected to boost the demand for BOPET films that can extend the shelf-life of packaged food.
- China's BOPET film suppliers play a pivotal role in supplying the electronics industry with BOPET film. This film is instrumental in creating insulating materials and flexible printed circuit boards (PCBs). With its exceptional dielectric properties and thermal stability, BOPET ensures the reliability and longevity of electronic applications. Its heat resistance and dimensional stability make BOPET ideal for insulating tapes, capacitors, and cable wraps, safeguarding electronic components and extending their lifespan.
- Zhejiang Yongsheng Technology Co. Ltd, a prominent player in China's BOPET film market, bolstered its partnership with Goebel IMS, a brand under IMS Technologies. The collaboration saw Zheijiang Yongsheng ordering two more primary slitter rewinders for BOPET conversion. This expanded agreement encompasses the initial order and includes two advanced models, the MONOSLIT 9000 BOPET and the MONOSLIT GIANT 11000 BOPET, marking a significant milestone for both companies.
Demand From the Dairy Packaging Sector Aids in Market Growth
- Consumers in developing countries like China are increasingly favoring nutrient-dense dairy products like cheese, milk, and yogurt, seeking heightened nutrition. These products have a longstanding reputation for being rich in vitamins, proteins, and easily absorbable calcium. Dairy products contain various biologically functional components; this factor is expected to help boost the market's growth over the forecast period.
- The surge in milk production is poised to spur innovations in flexible packaging, especially packaging films tailored to the unique demands of dairy producers and consumers. These innovations encompass enhanced barrier technologies for prolonged shelf life, added convenience features for easier handling, and sustainability measures aimed at curbing environmental footprints.
- According to the National Bureau of Statistics of China, the country is the world's fourth-largest dairy producer and Asia's second-largest. It saw a notable surge in its dairy output in 2023. The country's production of cow's milk hit approximately 42 million metric tons, marking a significant uptick from its average annual output of 30.97 million metric tons in 2018. This constant rise in milk production is expected to bolster the demand for packaging films across the country in the upcoming years.
- Given their susceptibility to bacteria, the demand for protection for milk and dairy products is higher than for water and other liquids. Consequently, manufacturers nationwide are pioneering high-barrier films, ensuring both convenience and enhanced preservation for the milk they encase.
- In August 2023, Dow collaborated with China's prominent dairy player, Mengniu, to introduce a mono-material PE yogurt pouch. This innovative product was designed to bolster China's circular economy efforts, specifically targeting higher recyclability rates. Mengniu, in partnership with Dow, harnessed the power of Dow's INNATE TF-BOPE resins. These resins, crafted through biaxially oriented manufacturing, significantly enhance barrier properties in mono-material films.
China's plastic film packaging market is moderately fragmented. Major market players include Toray Advanced Film Co. Ltd, Berry Global Inc., Kingchuan Packaging, and Cosmo Films Limited.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Demand For Light-Weight and Sustainable Packaging Across Industries
5.1.2 Robust Demand From the Increasing FMCG Sector Aids Growth
5.2 Market Restraints
5.2.1 Stringent Government Policies Against the Use of Plastic
6 MARKET SEGMENTATION
6.1 By Type
6.1.1 Polypropylene (Biaxially Oriented Polypropylene (BOPP), Cast polypropylene (CPP))
6.1.2 Polyethylene (Low-Density Polyethylene (LDPE), Linear low-density polyethylene (LLDPE))
6.1.3 Polyethylene Terephthalate (Biaxially Oriented Polyethylene Terephthalate (BOPET))
6.1.4 Polystyrene
6.1.5 Bio-Based
6.1.6 PVC, EVOH, PETG, and Other Film Types
6.2 By End User
6.2.1 Food
6.2.1.1 Candy & Confectionery
6.2.1.2 Frozen Foods
6.2.1.3 Fresh Produce
6.2.1.4 Dairy Products
6.2.1.5 Dry Foods
6.2.1.6 Meat, Poultry, And Seafood
6.2.1.7 Pet Food
6.2.2 Healthcare
6.2.3 Personal Care & Home Care
6.2.4 Industrial Packaging
6.2.5 Other End-use Industry Applications
7 COMPETITIVE LANDSCAPE
- Toray Advanced Film Co. Ltd
- Berry Global Inc.
- Kingchuan Packaging
- Xiamen Changsu Industrial Co. Ltd
- Zhejiang Kinlead Innovative Materials Co. Ltd
- Innovia Films (CCL Industries Inc.)
- Cosmo Films Limited
- Sealed Air Corporation
- Zhejiang Jiuteng Packaging Co. Ltd
- Logos Pack
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/q82ezj
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