The global packaging film market size was $135.1 billion in 2021 and is anticipated to reach $210.5 billion in 2031, growing at a rate of 4.4% from 2022 to 2031.
Global Global Packaging Film Market report from Global Insight Services is the single authoritative source of intelligence on Global Packaging Film Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Packaging films are used in industries such as food, beverages, personal care products, electronics & electrical, home care products, healthcare products, and other industrial goods. Single-use packaging and multi-layer film packaging are being gradually used as a substitute for hard packaging in end-user sectors.
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Market Trends and Drivers
The global packaging film market is anticipated to observe substantial growth in the upcoming years on account of growing application in food & beverage, medical, and other industries. In addition, the rise in population along with the growing disposable income of middle-class customers are projected to drive the demand for packaged food & beverages and personal care products. This, in turn, is anticipated to lead to a consequent increase in packaged goods and thereby packaging films during the study period. Emerging economies are exploring the varied benefits of packaged products in numerous industrial sectors, which are projected to supplement the packaging film demand. Plastics film packaging is light, non-corrosive, and relatively cheap, which is estimated to augment the global packaging film market growth.
Global Packaging Film Market By Material Type
Based on material type, the global packaging film market has been bifurcated into polypropylene, polyethylene, polyester, PVC, and others. The polyethylene segment is anticipated to account for the largest packaging film market share throughout the forecast period. Polyethylene is extensively used for the manufacturing of packaging films globally. The rising demand for flexible packaging films is projected to boost the demand for polyethylene throughout the study period. The flexibility and durability impact of polyethylene films are enhancing their use among the packaging film manufacturers.
Major Players of the Global Packaging Film Market
The global packaging film market report includes players such as Amcor Limited, AMPAC Holdings, LLC, Sealed Air Corporation, Berry Plastics Corporation, Charter Nex Films Inc., Dupont Teijin Films, Exopack Holding Corporation, Graphic Packaging Holding Corporation, and Hilex Poly Co LLC.
Prominent players in the industry such as Berry Plastics Corporation, Bemis Company, and Exopack Holding Corporation are focusing on adopting acquisition as their key developmental strategy to boost the product offerings of packaging films. For instance, in 2020, SABIC presented a sustainable frozen food packaging solution that mixes a novel grade of polyethylene (PE) along with innovative film production technology. It offered substantially higher performance in comparison to conventional blown PE film solutions. Thus, making it alluring from both a sustainability and commercial point of view.
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