Online Retail Portals are Gaining Popularity in Europe
Key manufacturers in Europe incurred huge losses due to the pandemic, with the shutting down of several stores in 2020. Europe is home to many fashion capitals that have streets full of retail outlets. The stores suffered the blow of the pandemic due to non-existent footfall in the first half of the year.However, due to the widespread adoption of e-commerce by traditional stores, the manufacturers witnessed a steady recovery in terms of sales and production. Many stores have also reopened with keeping in-store health and safety measures in check and are experiencing average footfall.
As consumers are getting comfortable with online retail portals, the retail industry is witnessing a gradual recovery with prospects for expansion in the future.
Fact.MR recently published a market study, which reveals that the demand for EVOH films for packaging market will grow at a healthy 4.7% value CAGR during the period 2018-2028. Demand will remain resurgent from the food and beverages sector, as manufacturers invest in innovative packaging technologies to appeal to wider consumer base of environmentally-conscious consumers. The Fact.MR study remains bullish on the long-term prospects of EVOH films for packaging market. According to the report, EVOH films are highly resistant to oxygen and carbon dioxide, which makes it one of the most preferred choice of packaging materials used in various industrial sectors.
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EVOH films remain a pragmatic packaging solution in the food and beverage industry, owing to its excellent anti-contamination properties. EVOH films for packaging manufacturers continue to benefit from the rising demand for flexible packaging solutions in healthcare, personals care & cosmetics, and electronics sectors. Owing to the excellent benefits of using EVOH films for packaging, such as extending shelf life and limiting product losses, the adoption of EVOH films will remain widespread across the packaging industry. Leading manufacturers are focusing on introducing additional functionalities of EVOH films for packaging such as cost-effectiveness and high seal strength, displaying an emerging trend in the EVOH films for packaging market.
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“Growth of the e-commerce sector is likely to remain a key growth parameter for the EVOH films for packaging market. Along with various types of retail goods, modern consumers are favorably disposed towards the idea of purchasing perishables online, which is creating high demand for sustainable packaging solutions. EVOH films, when used as a food packaging solution, can successfully retain properties of food products, such as flavor, freshness, and aroma, preventing it from contamination during shipments. Marquee manufacturers of EVOH films are developing innovative food packaging solutions, such as bag-in-box and pouched for liquid food products, using EVOH films to gain competitive advantages in the EVOH films for packaging market,” says a lead analyst at Fact.MR.
Rising industrial applications of barrier packaging materials is triggering demand for raw materials with highly specialized properties among market players in the EVOH films for packaging market. Kuraray Co., Ltd, a Japanese manufacturer of EVOH films used in food packaging, recently acquired the U.S.-based Calgon Carbon Corporation, to boost the use of filtration media products in various manufacturing processes to deliver high-quality and sustainable EVOH films for packaging market. Although, the company’s focus on mitigating the negative impact of raw materials on its manufacturing procedures has resulted in a significant rise in the selling price of EVAL™ EVOH films manufactured by the company.
The Smurfit Kappa Group plc, a European packaging company, is focusing on the using innovative raw materials to develop high performance packaging solutions for the drinks market. The company recently launched new Thermo Bag-in-Box packaging product using medium-density polyethylene (MDPE), linear low-density polyethylene (LLDPE), and EVOH films to meet the standards of hot filling processes followed during the manufacturing of various beverages.
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Smurfit used a combination of these raw materials, such as MDPE, LLDPE, and EVOH, to leverage their special properties such as thermo-resistance, flexibility, and oxygen resistance to extend the product life. The company has been relentlessly developing higher performance materials for packaging to bring enhanced product quality for consumers and gain a competitive edge in the EVOH films for packaging market.
Key Question Answered
- Which type of EVOH films for packaging market is gaining momentum in the fastest growing regional market?
- What are the latest trends that are triggering the growth of the leading market players?
- Why pouches made of EVOH films are the most popular application of EVOH films for packaging market?
- What are the risks associated with investing in EVOH films for packaging markets in economically developed countries in North America and Europe?
- Which end-user industry is generating maximum opportunities for manufacturers and distributors of EVOH films for packaging market?
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Key Players
- Mondi Group
- Smurfit Kappa Group Plc
- Kuraray Co. Ltd
- Amcor Ltd
- Berry Global Inc.
- Coveris Holdings S.A.
- Winpak Ltd.
- Schur Flexibles Holding GesmbH
- Mitsubishi Chemical Holdings Group
- FLAIR Flexible Packaging Corporation.
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