According to projections, the market for EVOH films for packaging would grow at a CAGR of 5.05% from 2022 to 2032, reaching US$ 8.01 Bn.
In 2022, it is predicted that EVOH packaging film sales would reach US$5.04 billion worldwide. The market for EVOH film packaging is anticipated to increase during the assessment year due to consumers’ growing desire for flexible packaging that is user-friendly, environmentally friendly, and extends product shelf life. Due to growing customer preference for eco-friendly packaging that ensures simplicity of use, the market for EVOH films packaging, which makes up 2% of the overall packaging industry in 2022, is anticipated to grow. During the assessment year of 2022–2032, EVOH films packaging is anticipated to acquire an absolute $ opportunity of US$2.97 Bn.
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The EVOH films for packaging market has witnessed significant growth in recent years due to the increasing demand for packaged foods, beverages, pharmaceuticals, and personal care products. The key factors driving this market growth include:
- Shelf Life Extension: EVOH films help in preserving the freshness and quality of packaged products by minimizing oxygen and moisture transmission. This extends the shelf life of perishable goods, reduces food waste, and enhances product safety.
- Barrier Properties: EVOH films offer excellent gas barrier properties, particularly for oxygen, which helps in protecting sensitive products from oxidation, flavor loss, and spoilage.
- Lightweight and Sustainable Packaging: EVOH films are lightweight, which contributes to reduced packaging material usage and transportation costs. Additionally, they are recyclable, making them an environmentally friendly choice for packaging applications.
- Rising Consumer Awareness: Increasing consumer awareness about food safety, product quality, and sustainability has led to a greater demand for high-performance packaging materials like EVOH films.
- Technological Advancements: Ongoing research and development efforts have resulted in improved EVOH film formulations, making them more versatile, cost-effective, and suitable for a wide range of packaging applications.
Competitive Landscape:
EVOH film for packaging manufacturers are exploring new and innovative designs focusing on consumer convenience. Key manufacturers are utilizing consumer inclination towards sustainable packaging in way of new product development. For instance,
- March 2021, Ireland-based, Smurfit Kappa has launched an EVOH film as part of its Bag-in-Box solution. This 60-micron film, marketed as E Compact 60, makes less use of plastic as compared to its counterparts. This packaging is said to be sustainable, resistant to gases and offers enhanced customer convenience.
Market 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.
- Korozo Packaging
- Nippon Gohsei
- Kaneka Corporation
- Sasol
Global EVOH Film for Packaging Market by Category:
· By Product Type:
- Blown Film
- Cast Film
· By Application:
- Pouches
- Trays
- Bags & Sacks
- Wrapping Films
- Lids
- Liquid Packaging Solutions
- Others (Sachets, Bag-in-box, Tubes)
· By End-use Industry:
- Food
- Healthcare
- Personal Care & Cosmetics
- Others (Building, Construction and Electronics Industry)
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Questionnaire answered in the Market outlook Report of EVOH Films for Packaging include:
- What is the key strategy deployed by large players to maximize EVOH Films for Packaging growth?
- What are the main challenges faced by players in the EVOH Films for Packaging Demand?
- With the advent of technological advancement, how will the EVOH Films for Packaging landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the EVOH Films for Packaging size?
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