Global Food Packaging Films Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. A thin polymeric material packaging film is used to protect various foods from hazardous bacteria and preserve it. Films used in food packaging preserve the product’s functional qualities while preventing the loss of flavor, color, aroma, and nutrients. Food items like cheese, snacks, cookies, dairy products, liquid and semi-solid foods, bakery items, meat, and other dry foods are among the products they are used to package. Food packaging often uses plastic sheets composed of polyethylene, polypropylene, polyethylene terephthalate, polyvinylchloride, polyamide, and ethylene vinyl alcohol. The key factor driving market is rising demand for convenience food products, innovative packaging solutions for extended shelf life of fresh food and growing demand for oriented films. The market is anticipated to increase in response to rising per-capita disposable income and rising population. Food that is packaged is protected from leaks and barriers. Additionally, packaging preserves food quality while preventing infections and contaminants. These advantages are promoting market growth. Another reason boosting the industry’s growth is the rising popularity of convenience foods such finger food, chocolate, snacks, and beverages because of their longer shelf lives. In addition, ready-to-eat snacks are in high demand due to sedentary lifestyles, which is projected to have a positive impact on the growth of the food packaging films market.
Convenience food is popular as it is convenient to carry, has a long shelf life, and is therefore ready to eat. Snacks, finger foods, chocolate, beverages, etc. are among these products. These foods require minimal preparation time because they are frequently served hot in ready-to-eat packaging. Increasing demand for ready-to-eat snacks will lead to an increase in the popularity of convenience food. Thus, the rising demand for convenience food is anticipated to create the lucrative demand for the market. According to Statista, in 2019 the convenience food market is valued USD 8.24 billion; in 2022 the number reached USD 20.28 billion and it is anticipated to reach USD 39.81 billion by 2025. Additionally, growing innovations in eco-friendly packaging solution is anticipated to create the lucrative opportunity for the market during forecast period. However, availability of substitute may stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Food Packaging Films Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the rising demand for ready to eat food and rising packaged food market in the region. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as large population, rising demand for convenience food products, growing packaged food demand, and availability of cheap raw materials for packaging would create lucrative growth prospects for the Food Packaging Films market across Asia Pacific region.
Major market player included in this report are:
Amcor plc (Australia)
Berry Global (US)
DS Smith (UK)
Sealed Air Corporation (US)
Graphic Packaging Holding Company (US)
Charter Next Generation (US)
Mondi Group (UK)
DuPont Teijin Films (Japan)
Recent Developments in the Market:
? In May 2022, Innovia Films launched a brand-new 6.2-meter multi-layer co-extrusion section at its Pock, Poland, facility. Low-density polyolefin compress film would be produced on the advanced equipment specifically for shrink sleeve tags or other common applications.
Global Food Packaging Films Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Material, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Flexible Packaging Films
Rigid Packaging Films
Fruits & Vegetables
Bakery & Confectionery
Meat, Poultry & Seafood
Rest of the World