Ottawa, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The global polypropylene packaging films market size is increasing from USD 27.35 billion in 2023 to approximately USD 45.31 billion by 2032, according to a study published by Towards Packaging a sister firm of Precedence Statistics. The industry is expected to grow at a solid CAGR of 6.04% between 2024 and 2033.
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Key Takeaways: Leading Factors of the Polypropylene Packaging Market
- Demand for high-quality packed food due to changing consumer preferences is the major factor that drives the market.
- North America to perceive growth in manufacturing infrastructure due to high investments.
- Aside from industrial sector, food and beverages and packaging sector is anticipating growth in upcoming years.
- Excessive reliance on crude oil will be a challenge for the polypropylene packaging films market.
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Polypropylene Packaging Films: Emerging with Expanding Food Businesses
The polypropylene packaging films market revolves around providing protection and sustainable packaging for all kinds of products. Along with being cost-effective and durable, maintaining the barrier against contaminants and providing biodegradable options due to consumer awareness are the leading objectives of the market. The busy lifestyles and unjust eating timings and places have increased the need for packed foods that will follow safety regulations, and the consequence demands hygiene and easy maneuver opening packaging, that is, polypropylene packaging.
As the food industry expands, there is a significant increase in the production and consumption of processed and packaged foods. Polypropylene packaging films are widely used in the food industry due to their excellent barrier properties, which help preserve food products' freshness, flavor, and safety. This makes them ideal for packaging snacks, ready-to-eat meals, and other processed food items. The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.
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Different sectors, according to their needs and the structure of the product, prefer packaging solutions. They want the products delivered on time, which will, in return, increase their consumer base. The polypropylene packaging films market offers this, and the demand for their market skyrockets.
Driver
Aesthetics and Extending Shelf Life to Boost the Market’s Expansion
The shelf life is extended of the products due to moisture resistance which is possible because of polypropylene films and this interconnects many factors together which are the food and beverage market, industrial and global market, pharmaceutical market and all these market use material for packaging their products which is environmentally sustainable due to lower carbon footprint of BOPP film. E-commerce is also another driving factor which is in demand due to high income of middle class and the aesthetics which enhance the packaging appeal of the packed products.
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Restraint
Major Environmental Concers to Hinder the Market’s Expansion
The polypropylene packaging films market is observed to face challenges due to the materials used for packaging products, especially plastic, and excessive utilization can cause environmental hazards. For this, alternative and sustainable solutions should be enhanced, that is, its recycling infrastructure. Apart from this, economic drawbacks can disturb the import and export flow due to foreign regulations and government regulations are the game changers of the market. Furthermore, opposite alternative packaging materials are the intense competitive hindrances for the market.
How AI Helps Packaging Films Industry?
The integration of AI has improved the market by researching and developing new barrier designs, so that it can develop more sustainable solutions and can create more durable packaging. It can also analyse the consumer preference and based on that, can innovate product which will be cost-effective and will be able to produce high-quality printing labels. The recycling infrastructure can be developed at a faster rate and can suggest bio-degradable materials. The remarkable innovation in AI technologies will provide multiple opportunities to the leading market players to expand the polypropylene packaging films market.
Opportunity
Rapid Expansion of E-commerce to Offer Opportunities to the Market
Polypropylene packaging films are known for their strength, flexibility, and resistance to moisture and chemicals, making them ideal for protecting goods during shipping. As e-commerce grows, the need for packaging that can withstand various handling and environmental conditions increases, boosting demand for PP films. Polypropylene is a cost-effective material, and its films are affordable compared to other packaging options. The cost sensitivity of e-commerce businesses, which often operate on thin margins, drives the adoption of PP films to keep packaging costs low.
The e-commerce industry deals with a wide range of products, from electronics and clothing to food and personal care items. Polypropylene films can be adapted for various packaging formats (e.g., bags, pouches, wraps) and can be customized to fit different product types, enhancing their appeal in the e-commerce sector.
Regional Insights
North America: Sustainability and Expanding E-commerce Sector
North America is is one of the prominent marketplaces for polypropylene packaging films market. The market in this region is driven by high expenditure, focus on sustainability and strict government regulations. Countries like United States, Canada, and Mexico are leading contributors in the polypropylene packaging films market. As consumers and businesses alike become more environmentally conscious, the demand for recyclable packaging materials has grown. Polypropylene is recyclable, making it a more sustainable choice for e-commerce packaging, which aligns with the industry's shift towards eco-friendly practices.
In May 2023, Dow in collaboration with New Blue Energy, announced that they had developed a renewable plastic materials corn residue which was used for the recyclable applications in transportation, footwear and packaging sector. The collaboration agreement had increased the use of recyclable resources and was also expected to be certified by ISCC PLUS, an international sustainability certification program.
Europe has established itself as the mature market with its focus on sustainability and different consumer preferences, given the reason it has different packaging solutions across the region. In addition, value adding services which are design and development of the product and rising demand for bio-degradable products are the driving factors of the region. Countries like Germany, France, UK, Italy, and Spain are the leading contributors in the polypropylene packaging film market.
In October 2023, GreenDot expanded its plastic recycling infrastructure in North America, an original division part of the company, which EPR programs and will support clear goals like recycling rates and content percentages. Investing in company’s infrastructure in North America and connecting with its clients is the major part of the company’s plan.
Asia-Pacific is the remarked the fastest-growing region. The growing economy with a high income focuses on cost-effectiveness, in result, has surged the rise of e-commerce sector. The rising urbanization and a focus on the sustainable solutions is the goal of the region. Countries like India, China, Japan, South Korea and Australia are the leading contributors in the polypropylene packaging films market.
In March 2023, Polymateria in collaboration with Indian Plastic Manufacturer Toppan Specialty Films (TSP) had released a packaging product which is bio-degradable and was used in food and cosmetics packaging. The packaging product was verified by the accredited AIMPLAS Technological Institute of Plastic laboratory in Spain, and was tested under the ISO 17556standard fir biodegradability.
Recent Developments:
| Company Name | INEOS |
| Headquarters | UK |
| Development | In March 2024, INEOS in collaboration with several partners, launched a product which includes 50% recycled plastic and also satisfies EU regulatory requirements, and is certified under the International Sustainability and Carbon Certification (ISCC PLUS). |
| Company Name | SABIC, Napco and FONTE |
| Headquarters | Saudi Arabia |
| Development | In April 2024, SABIC in collaboration with Napco and FONTE, launched a product which included recycled post-consumer plastic, is based on 100% feedstock of pyrolysis oil derived from the advanced recycling of post-consumer used plastic. |
Segmental Analysis:
Material Analysis
The biaxially oriented polypropylene segment dominated the polypropylene packaging films market. It is the dominating material due to its properties which are strength, high gloss and clarity and are used specially in food and beverages and labels.
The cast polypropylene is the fastest growing segment in the polypropylene packaging films market due to its properties which are high degree of softness, heat sealing and low stress whitening are used in pharmaceutical and hygiene products.
Application Analysis
The food & beverages segment led the polypropylene packaging films market in 2023. Polypropylene films offer superior barrier properties that protect food and beverage products from moisture, oxygen, and other environmental factors. This is crucial for preserving the freshness, flavor, and nutritional value of perishable goods, such as snacks, bakery items, and packaged beverages.
The food and beverage industry often requires packaging that can be securely sealed to maintain product integrity. Polypropylene films are compatible with various sealing technologies, ensuring airtight packaging that extends product shelf life.
More Insights in Towards Packaging
- The global returnable packaging market size reached USD 116.02 billion in 2023 and is projected to hit around USD 208.56 billion by 2033, expanding at a CAGR of 6.04% during the forecast period from 2024 to 2033.
- The global beer cans market size reached USD 12.77 billion in 2023 and is projected to hit around USD 19.14 billion by 2033, expanding at a CAGR of 4.13% during the forecast period from 2024 to 2033.
- The global tube packaging market size is estimated to reach USD 18.68 billion by 2033, up from USD 10.73 billion in 2023, at a compound annual growth rate (CAGR) of 5.82% from 2024 to 2033.
- The global shrink and stretch sleeve labels market size is estimated to reach USD 25.33 billion by 2033, up from USD 13.51 billion in 2023, at a compound annual growth rate (CAGR) of 6.63% from 2024 to 2033.
- The global barrier films packaging market size is estimated to reach USD 57.74 billion by 2033, up from USD 32.67 billion in 2023, at a compound annual growth rate (CAGR) of 5.99% from 2024 to 2033.
- The global industrial labels market size expected to bring about USD 48.50 billion by 2033 to climb from USD 28.65 billion in 2023, at a CAGR of 5.51% from 2024 to 2033.
- The global automotive labeling market size is envisioned to execute USD 15.11 billion by 2033 to surge from USD 8.46 billion in 2023, growing at 6.11% CAGR from 2024 to 2033.
- The global healthcare packaging market size envisioned to advance from USD 137.13 billion in 2023 predicted to conclude USD 229.91 billion by 2032, growing at a 5.9% CAGR between 2023 and 2032.
- The global cassava-based packaging market size speculated to escalate from USD 1.84 billion in 2022 forecasted to seize USD 3.50 billion by 2032, growing at a 6.7% CAGR between 2023 and 2032.
- The global nutraceutical packaging market size is presumed to grow from USD 3.55 billion in 2023 predicted to effectuate USD 5.56 billion by 2032, growing at a 5.1% CAGR between 2023 and 2032.
Top Companies in the Polypropylene Packaging Films Market
- Mitsu Chemicals America Inc.
- Cosmo Films Ltd.
- Polyplex Corporation
- Innovia Films Ltd.
- DuPont Teijin Films
- Jindal Poly Films Ltd.
- Treofan
- Toray Industries
Polypropylene Packaging Films Market Segments
By Process Type
- Biaxially Oriented Polypropylene (BOPP)
- Cast Polypropylene (CPP)
By Product Type
- Bags & Pouches
- Wraps
- Tapes & Labels
- Others
By Application
- Food & Beverages
- Healthcare
- Electrical & Electronics
- Personal Care & Cosmetics
- Industrial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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