Dublin, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The "Food Packaging Films Market by Type (Flexible, Rigid), Material (Polyethylene, Polypropylene, Polyethylene Terephthalate), Application (Meat, Poultry & Seafood, Convenience Food, Bakery & Confectionary) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The food packaging films market size was USD 49.8 billion in 2021 and is projected to reach USD 72.3 billion by 2027, at a CAGR of 6.4%. Food packaging films has been one of the fastest-growing segments of the packaging industry over the past few years. The key driver for the food packaging films market is the increase in the demand for convenience food items.
However, the growth of the market is restrained by issues related to the rising raw material prices. The basic raw material used for food packaging films is plastic, which is made from crude oil. As the supply of crude oil keeps fluctuating, plastic manufacturing is affected.
Meat, poultry & seafood segment to lead market growth
Meat, poultry & seafood is the leading application segment in terms of both value and volume. Growing disposable incomes have fueled the demand for convenience food items, which is, in turn, driving the food packaging films market. The increasing awareness regarding the nutritional value of meat products and changing eating habits are also boosting the demand for food packaging films. Packaging protects meat products during processing, storage, and distribution. The aim of any packaging system for fresh muscle foods is to prevent or delay undesirable changes in appearance, flavor, odor, and texture. Consumer rejection of the product is possible if the quality claims are not met.
The food packaging films market in the polypropylene segment is expected to be the second largest during the forecast period.
Polypropylene is the most preferred packaging material due to its low weight and cost. Polypropylene (PP) is a clear, glossy film with high strength and puncture resistance. It can be made translucent, opaque, or of a different color during the manufacturing process. PP generally has a high melting point, making it particularly suitable for food packaging products that are used in microwaves or cleaned in dishwashers.
Asia Pacific projected to be fastest-growing food packaging films market during forecast period
The market for food packaging films is observed to be growing in Asia Pacific, as a result of demographic changes and continuous industrialization. Emerging economies in the Asia Pacific region, such as India and China, provide immense opportunities in the food packaging films market. Growth in the food packaging films market is primarily driven by factors such as the rising consumption of packed food products, increasing demand from the food industry, rising disposable income, and manufacturer focus on developing low-cost packaging options.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Food Packaging Films Market
4.2 Food Packaging Films Market, by Material
4.3 Food Packaging Films Market, by Application
4.4 Food Packaging Films Market, by Type
4.5 Food Packaging Films Market, Developed Vs. Emerging Countries
4.6 Asia-Pacific Food Packaging Films Market, by Application and Country
4.7 Asia-Pacific Food Packaging Films Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Global Population and Improving Economic Conditions of Emerging Countries
5.2.1.2 Growing Demand for Convenience Food Items
5.2.1.3 Innovative Packaging Solutions for Extended Shelf Life of Fresh Food Items
5.2.1.4 Rising Demand for Oriented Films
5.2.2 Restraints
5.2.2.1 Volatile Raw Material Costs
5.2.2.2 Stringent Government Rules and Regulations Regarding Raw Materials
5.2.3 Opportunities
5.2.3.1 Innovations in Eco-Friendly Packaging
5.2.4 Challenges
5.2.4.1 Manufacturers Concentrating on Downsizing Packaging
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicators
5.5 Ecosystem
5.5.1 Yc and Ycc Shift
5.6 Average Selling Price Analysis
5.7 Patent Analysis
5.7.1 Introduction
5.7.2 Methodology
5.7.3 Document Type
5.7.4 Insights
5.7.5 Jurisdiction Analysis
5.7.6 Top Applicants
5.8 Technology Analysis
5.8.1 Technologies for Food Packaging Film Structures
5.9 Trade Analysis
5.10 Value Chain Analysis
5.11 Case Study Analysis
5.12 Regulations
6 Food Packaging Films Market, by Type
6.1 Introduction
6.2 Flexible Packaging Films
6.2.1 Changing Lifestyles to Increase Demand for Flexible Packaging Films
6.3 Rigid Packaging Films
6.3.1 Preference for Convenience Foods to Drive Demand for Rigid Packaging Films
7 Food Packaging Films Market, by Material
7.1 Introduction
7.2 Polyethylene (Pe)
7.2.1 High Demand for Food Packaging Films Due to Favorable Properties
7.3 Polypropylene (Pp)
7.3.1 Extensive Use in Food Packaging Solutions
7.4 Polyethylene Terephthalate (Pet)
7.4.1 Offers Resistance to Heat, Oils, Solvents, and Acids
7.5 Polyamide (Pa)
7.5.1 Provides Protection from Scratches, Punctures, and Flex-Cracks
7.6 Others
8 Food Packaging Films Market, by Application
8.1 Introduction
8.2 Meat, Poultry & Seafood Products
8.2.1 Largest Application of Food Packaging Films
8.3 Convenience Foods
8.3.1 High Demand for Food Packaging Films Due to Changing Consumption Patterns
8.4 Bakery & Confectionery
8.4.1 Puncture-Resistant Packaging Films Provide Enhanced Protection
8.5 Fruits & Vegetables
8.5.1 Packaging Films Ensure Freshness of Fruits & Vegetables
8.6 Dairy Products
8.6.1 Trend for Pre-Packaged Cheese to Drive Food Packaging Films Market
8.7 Others
9 Food Packaging Films Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Company Evaluation Quadrant Matrix: Definitions and Methodology, 2021
10.2.1 Star
10.2.2 Emerging Leaders
10.2.3 Pervasive Players
10.2.4 Participants
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 Revenue Analysis
10.5.1 Amcor plc
10.5.2 Coveris
10.5.3 Ds Smith plc
10.5.4 Berry Global
10.5.5 Charter Next Generation
10.6 Competitive Benchmarking
10.6.1 Market Evaluation Matrix
10.7 Market Ranking Analysis
10.8 Strategic Developments
10.8.1 New Product Launches
10.8.2 Deals
10.8.3 Other Developments
11 Company Profiles
11.1 Key Players
11.1.1 Berry Global
11.1.2 Innovia Films Ltd
11.1.3 Novolex
11.1.4 Dupont Teijin Films
11.1.5 Mondi Group
11.1.6 Ds Smith plc
11.1.7 Graphic Packaging Holding Company
11.1.8 Coveris
11.1.9 Georgia Pacific
11.1.10 Charter Next Generation
11.1.11 Amcor plc
11.1.12 Westrock Company
11.1.13 Sealed Air Corporation
11.2 Other Key Players
11.2.1 Jindal Poly Films
11.2.2 Rkw Se
11.2.3 Taghleef Industries
11.2.4 Wipak Group
11.2.5 Clearwater Paper Corp
11.2.6 Novamont
11.2.7 Constantia Flexibles
11.2.8 Plastipak
11.2.9 Tetra Pak
11.2.10 Printpack Inc.
11.2.11 Huhtamaki Oyj
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/knytod
Attachment
