The bundling film market is likely to be valued at US$ 13 Billion in 2022 and is anticipated to record a CAGR of 4.9% through 2032. The market is expected to reach a valuation of US$ 21 Billion by 2032.
| Attributes | Details |
|---|---|
| Bundling Film Market CAGR | 4.9% |
| Bundling Film Market (2022) | US$ 13 Billion |
| Bundling Film Market (2032) | US$ 21 Billion |
The requirement of the hour is to understand how the product or services match the wants of the customer and what modifications would be necessary to render the offering more appealing. Proper marketing & distribution channels to spot possible market clients by volume of sales is the traditional approach adopted by bundling film market key players over the past years.
Presently, the renowned as well as new bundling film market players are working on using the most cutting-edge technology so they can create films with the appropriate thickness. In addition, the technology would manage other areas while providing the maximum level of precision. The combination of artificial intelligence (AI) and other types of technology is also expected to raise the benchmark for the caliber and grade of polyethylene.
In order to make the shrink bundling film, marketers make effective strategies and determine why the target market is not responding as expectedly. Consumers’ attitudes and inventiveness are constantly correlated with each other via demand-side analysis.
Shrink bundling film manufacturers may apply best practices to leverage an underserved population by continuously understanding the performance of the product to assess the potential of networking and market penetration.
With the growing concern for environmental issues, the major market players are seeking more environmentally friendly packaging choices instead of polyethylene shrink bundling film. As per the emerging trends in the bundling film market, sourcing of biodegradable materials has emerged as a critical challenge for renowned players in the Western world. Government support for this endeavor might be instrumental in encouraging entrepreneurs to spot new opportunities in this market space and strengthen the demand further.
Users would benefit from having more access and accountability to the range of products that have expanded via innovations, integrations, and buyouts over time. So in order to guarantee that bundling films can offer the greatest opportunity available, the start-up community is working to create cost-effective products and solutions for end-user companies.
As per the report identifying such a new user base for boosting the demand for bundling film would be quite effective for the market participants to scale up their business.
Other than that, some of the major players have come up with interestingly novel ideas to scale up their sales by bundling film and making their brand name popular. Providing bundling film dispenser to their long-term clients have proved to be quite instrumental in increasing the client base. Moreover, providing necessary assistance and service for the proper conduct of the full process is a new approach to getting new customers.
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Packaging has become a key constituent of modern life due to the ease of transportation, storage and inclination of the consumer towards a wide usage of bags. The rising demand of the packaging products is primarily due to its easy availability.
One such product which is growing at a healthy rate is bundling film market, most of the bundling film bags are lay flat or gusseted in nature and are available in different sizes and can also be customized to meet customer precise needs. Customization of bundling film packaging in terms of space, capacity can improve the market globally in the forecast period.
The global bundling film market can be segmented on the basis of material type, packaging type, by product type, end-use and by region. On the basis of material type bundling film market can be segmented into Polyethylene (PE), Polyvinylidenchloride (PVDC), Polypropylene (PP), `Polyvinylchloride (PVC), Polyester (PET), and Polyamide (PA).
On the basis of packaging type bundling film market can be segmented into flexible packaging and semi-rigid packaging. On the basis of product type bundling film market can be segmented into bundling stretch film, hybrid bundling stretch film, extended core bundling stretch film, pre stretched bundling stretch film.
On the basis of application, bundling film has been segmented into food, pharmaceuticals, personal care & cosmetic products, industrial goods, commercial goods, and others. On the basis of region, the global bundling film has been segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA).
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Growth in demand for bundling film market is expected to grow strongly for several reasons. One of the major factors contributing towards the growth of bundling film market is the dispensers which offer the ability to control the film tension during the application process, and also it offer a brake that allows users to modify film tension.
The lightweight stretch bundling film dispenser offers easy application for users which is another factor fueling the growth in the bundling film market. On the other hand, the restraining factors that are hindering the growth in the bundling film market is the higher initial cost of the plastic materials, dispensers and lack of awareness among consumer.
The increasing demand for bundling film products from different industries like food & beverages, pharmaceuticals, chemical can also be a good opportunity for the bundling film market.
Geographically, the global bundling film market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global bundling film market is expected to witness a stable CAGR over the forecast period of 2016-2024. Moreover, North America is expected to be the largest bundling film market in terms of bundling film, due to the higher rate of exporting products and goods.
Apart from this, the wide growth of the plastic bags is expected to further boost the sales of the bundling film market in Asia Pacific by the end of the forecast period of 2016-2024.
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Some of the major players identified across the globe in the bundling film market are Berry Plastics, Amcor Limited, Mondi Group, Professional Packaging Systems, Inc., Global-Pak, Plastipak Group, Halsted, Intertape Polymer Group, J&HM Dickson, Jumbo Bag, Langston, LC Packaging, Jinxing Plastic Packaging Branch, Shanghai Lucky Hi-Tech Material International Trade Co., Ltd., Dongguan Yason Pack Co., Ltd., Tongcheng Soma Package Co., Ltd., Qingdao Bothwin International Trade Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to market segments such as geography, material type, packaging type, by product type, end-use.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Bundling Film Market
