With a CAGR of 4.1% from 2023 to 2033, the packaging film market is expected to be valued at USD 149.6 billion in 2023. The market is to hit USD 223.5 billion by 2033.
Consumer disposable income, urbanization, and the need for packaged foods are the factors credited with driving market expansion in emerging nations.
The demand for packaging films is being driven by the expanding e-commerce industry, as well as the spike in demand for consumer goods and health products. Increased investment in the food delivery business and an increase in food delivery services are key drivers of the market's expansion.
The demand for convenience products by customers and the growing need from the retail sector for packaged goods with longer shelf lives are driving up packaging film sales in the sector. The market is expanding dramatically as a result of the constantly expanding use of films in food packaging. This is attributable to the growing downgauging trend, which has aided in the transition from rigid to flexible packaging. The need for packaging films has increased as a result of a strong focus on prolonging product shelf life and decreasing packaging material waste. As well as a rise in the popularity of packaged fresh goods such as fruits, meat, vegetables, and seafood.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.1% |
| Market HCAGR (2018 to 2023) | 2.5% |
| Market Size 2023 | USD 149.6 billion |
| Market Size 2033 | USD 223.5 billion |
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Packaging films are used in various industries like food, beverages, home care products, personal care products, healthcare products, and electronics & electrical.
Single-use packaging is the talk of the town. Under the food industry, different sub-industries are there like meat, seafood, and poultry, ready-to-eat meals, dairy products, bakery and confectionery, other food products. Multi-layer film packaging is being increasingly used as an alternative to hard packaging like PET in the aforementioned sectors.
Several alternatives to packaging film packaging are making deeper inroads into the market. Alternatives to packaging films include gluten films, crab shells & tree fiber films, silk fibroin, and mango waste edible films among others. This could hamper the growth of the market to an extent.
The packaging films market registered a CAGR of 2.5% during the historic period of 2018 to 2022. The period marked the entry of various market players and product innovations.
Since they are affordable, lightweight, safe, convenient, and sustainable. Packaging films have remained the preferred packaging solution across various industries. Based on the material used for packaging film manufacturing, polyethylene (PE) accounted for a dominant market share of 37% in 2023. It is expected to remain the leading segment during the forecast period.
The rising demand for practical and appealing packaging solutions across many industries is one of the main factors. Films used in packaging are essential for safeguarding and conserving goods, increasing their shelf lives, and keeping their quality while in transit and storage. There is an increasing demand for packaging films that offer convenience, ease of use, and aesthetically pleasing designs as consumer preferences and lifestyles change.
Another key factor in the packaging film market is sustainability. There is an increasing need for eco-friendly packaging options due to growing environmental concerns and strict laws. Films for packaging that are recyclable, have a low carbon footprint, and are comprised of biodegradable or compostable materials are all gaining popularity.
Consumer awareness, brand reputation, and the desire to reduce plastic waste are the driving forces behind the transition to sustainable packaging films.
The market is also driven by technological developments as manufacturers work to enhance the performance and quality of films. Improved barrier qualities, moisture resistance, heat sealability, and enhanced printability, among other improvements in film manufacturing methods, offer greater flexibility and usefulness. To satisfy a variety of packaging applications. To improve the tensile strength, tensile durability, and aesthetic appeal of packaging films, cutting-edge polymers, coatings, and additives are being created.
The e-commerce and retail industries' expansion is driving up demand for packaging films. Films that offer protection during shipping, display product information, and offer a fun unwrapping experience are needed as online shopping becomes more and more popular.
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Manufacturers now have more opportunities to create and market biodegradable, compostable, and recyclable packaging films. Because of the growing emphasis on environmentally friendly packaging solutions. There is an increasing need for eco-friendly substitutes as a result of consumers' growing environmental awareness. Providing market participants with a sizable chance to capture the market.
Second, there are a lot of chances for packaging film manufacturers in the food and beverage sector. The increasing need for ready-to-eat meals, convenience foods, and portable snacks has increased the demand for films with superior barrier qualities, longer shelf lives, and higher levels of food safety. The rising demand for high-end and aesthetically pleasing packaging films is a result of the popularity of premium and gourmet goods.
Packaging film suppliers have a tonne of opportunities in the growing e-commerce market. Demand for protective and aesthetically pleasing films that improve product presentation, contain tamper-evident features, and are simple to open is growing as online shopping continues to soar.
Specialized packaging films that guarantee product integrity, tamper resistance, and extended shelf life for delicate medical devices, medications, and diagnostics are in demand in the healthcare and pharmaceutical sectors.
The packaging films market offers a variety of opportunities, including sustainable packaging, food and beverage packaging, e-commerce packaging, and healthcare packaging. Manufacturers may make use of cutting-edge solutions to fulfill changing consumer preferences and industry standards in these markets.
The market has difficulties as a result of the expanding laws and environmental worries over plastic waste. Governments and regulatory agencies are enacting more stringent laws against single-use plastics. This is causing restrictions on the usage of some packaging films. This may affect consumer demand for the uptake of conventional plastic films, necessitating the development of substitute materials by producers.
For small and medium-sized businesses, in particular, the significant initial expenditure needed to acquire cutting-edge technology and equipment for film manufacture might be a barrier. Upgrades to production lines may necessitate a large capital outlay to fulfill changing market demands and quality standards.
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| Countries | 2023 Value Share in Global Market |
|---|---|
| United States | 20% |
| Germany | 4.4% |
| Japan | 5.8% |
| Australia | 1.0% |
Presence of Well-established Packaging Sector Boosting Sales in China
The packaging films market in China is expanding quickly, thanks to several factors. The demand for packaging films is increasing across industries as a result of the nation's growing population, increasing disposable income, and shifting consumer lifestyles. Plastic and other flexible packaging films rule the market thanks to their adaptability and affordability.
There is an increase in the use of biodegradable and recyclable films due to the demand for sustainable packaging solutions. Due to the increasing e-commerce market and shifting customer habits, the food and beverage industry is a significant consumer of packaging films. The creation of high-performance packaging films in China is further aided by technological developments and advancements.
Germany has a robust packaging film sector that is supported by several important elements. Packaging films can expand in the country because of its strong manufacturing base, cutting-edge infrastructure, and high consumer demand. The market serves a variety of industries, including those for food and drink, prescription drugs, personal care products, and industrial uses.
The adoption of biodegradable and recyclable films is a result of the growing focus on sustainability and eco-friendly packaging options. The severe requirements in Germany for managing packaging waste add to the demand for environmentally friendly alternatives. Innovation in the market is fueled by technological developments in film production, such as enhanced barrier properties and advanced printing capabilities. In general, businesses specializing in high-quality, environmentally friendly packaging solutions have attractive potential in the German packaging films industry.
India's market for packaging films is expanding quickly. The demand for packaged goods has increased across a variety of industries, including food and beverage, medicines, personal care, and more. As a result of population growth, rapid urbanization, and changing consumer lifestyles. The demand for effective and appealing packaging solutions has also been fueled by rising disposable income and e-commerce penetration. Environmental concerns and government initiatives are causing a shift in the market towards films that are environmentally friendly and sustainable. The market is expanding as a result of technological developments including greater printability and improved barrier characteristics. Overall, there are chances for both domestic and foreign competitors in India's packaging films market, which is positioned for significant growth.
| Countries | Value CAGR (2023 to 2033) |
|---|---|
| China | 5.8% |
| India | 6.4% |
| United Kingdom | 2.9% |
| Countries | 2023 Value Share in Global Market |
|---|---|
| United States | 20% |
| Germany | 4.4% |
| Japan | 5.8% |
| Australia | 1.0% |
Presence of Well-established Packaging Sector Boosting Sales in China
The packaging films market in China is expanding quickly, thanks to several factors. The demand for packaging films is increasing across industries as a result of the nation's growing population, increasing disposable income, and shifting consumer lifestyles. Plastic and other flexible packaging films rule the market thanks to their adaptability and affordability.
There is an increase in the use of biodegradable and recyclable films due to the demand for sustainable packaging solutions. Due to the increasing e-commerce market and shifting customer habits, the food and beverage industry is a significant consumer of packaging films. The creation of high-performance packaging films in China is further aided by technological developments and advancements.
Germany has a robust packaging film sector that is supported by several important elements. Packaging films can expand in the country because of its strong manufacturing base, cutting-edge infrastructure, and high consumer demand. The market serves a variety of industries, including those for food and drink, prescription drugs, personal care products, and industrial uses.
The adoption of biodegradable and recyclable films is a result of the growing focus on sustainability and eco-friendly packaging options. The severe requirements in Germany for managing packaging waste add to the demand for environmentally friendly alternatives. Innovation in the market is fueled by technological developments in film production, such as enhanced barrier properties and advanced printing capabilities. In general, businesses specializing in high-quality, environmentally friendly packaging solutions have attractive potential in the German packaging films industry.
India's market for packaging films is expanding quickly. The demand for packaged goods has increased across a variety of industries, including food and beverage, medicines, personal care, and more. As a result of population growth, rapid urbanization, and changing consumer lifestyles. The demand for effective and appealing packaging solutions has also been fueled by rising disposable income and e-commerce penetration. Environmental concerns and government initiatives are causing a shift in the market towards films that are environmentally friendly and sustainable. The market is expanding as a result of technological developments including greater printability and improved barrier characteristics. Overall, there are chances for both domestic and foreign competitors in India's packaging films market, which is positioned for significant growth.
| Countries | Value CAGR (2023 to 2033) |
|---|---|
| China | 5.8% |
| India | 6.4% |
| United Kingdom | 2.9% |
| Category | Material Type |
|---|---|
| Leading Segment | Polypropylene (PP) |
| Market Share | 23.3% |
The polyethylene segment is expected to outpace the global packaging films market. Among the various forms of polyethylene, LDPE packaging films are gaining significant traction among end users. These films offer good strength against tear or puncture, high transparency, and good heat sealability. Thus making them an ideal choice for wrapping products and ensuring quality packaging.
With the increasing recycling facilities and consumer inclination towards environmental safety, end users are opting for completely recyclable or degradable PE films for packaging. Therefore, as per the study, by the end of 2033, polyethylene-based packaging films are expected to set a new benchmark of USD 71 million and account for nearly 36% market share.
| Category | End Use |
|---|---|
| Leading Segment | Food |
| Market Share | 33.5% |
Among the end-use segment, the food industry accounted for a substantial share in 2021 and is poised to maintain its dominance through the course of the forecast period. Packaging films with the additional benefit of smart and intelligent packaging technology ensures consumable product quality and shelf life to the optimum level.
Besides this, end-users are gradually adopting flexible packaging solutions in the form of packaging films and wraps for achieving cost-effectiveness. Therefore, demand for packaging films in the food sector is expected to accelerate at a CAGR of 4.2% in the global market in the next decade.
The primary players' top priorities include providing the best packing experience while ensuring user comfort. As a result, a lot of the leading players are implementing the strategy of product innovation and improving the appeal and acceptance of their products among consumers. In addition, to meet the rising demand for packaging films, manufacturers intend to increase their production capacities in undeveloped markets.
Leading producers of packaging films are emphasizing the development of goods that are more lightweight, robust, and environmentally friendly. In this area, numerous improvements are being developed to make packaging more useful and sustainable.
Latest Advancements
| Company | Details |
|---|---|
| Coveris | To reduce dependency on virgin plastic films for packaging, Coveris introduced next-generation stretch films with 30% recycled content in February 2022. |
| B2B Industrial Packaging | B2B Industrial Packaging bought Pioneer Packaging International in January 2022. The company intends to broaden its consumer base with this acquisition, particularly in underserved markets. |
| Amcor | To replace current PET/PE packaging, Amcor, ExxonMobil, and Syntegon India developed a recyclable polyethylene laminating film-based detergent packaging solution in September 2021. |
| Domo Chemicals | The nylon films division of Domo Chemicals was purchased by Jindal Films in January 2021. Increased nylon film production capacity from this acquisition to aid the company's expansion. |
The packaging film industry is anticipated to reach USD 223.5 billion by 2033.
The packaging films market is currently valued at USD 149.6 billion.
From 2023 to 2033, the packaging films market is anticipated to expand at a CAGR of 20%, 4.4%, and 5.8% in the United States, Germany, and Japan, respectively.
The main market for packaging films is the food and beverage sector.
The major Asian markets for packaging films are China, India, and South Korea.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Polyethylene (PE) 5.2. Polypropylene (PP) 5.3. Polyethylene Terephthalate (PET) 5.4. Polyvinyl Chloride (PVC) 5.5. Polyamide (PA) 5.6. Ethyl Vinyl Alcohol (EVOH) 5.7. Polyvinylidene Chloride (PVDC) 5.8. Bioplastics 5.9. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Pouches 6.2. Bags & Sacks 6.3. Tubes 6.4. Liners 6.5. Sachets & Stick Packs 6.6. Tapes & Labels 6.7. Wraps/Rolls 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food 7.1.1. Meat, Seafood, and Poultry 7.1.2. Ready to Eat Meals 7.1.3. Dairy Products 7.1.4. Bakery and Confectionery 7.1.5. Others 7.2. Beverages 7.2.1. Alcoholic Beverages 7.2.2. Non-Alcoholic Beverages 7.3. Homecare Products 7.4. Personal Care Products 7.5. Healthcare Products 7.6. Electronics & Electricals 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Berry Global 16.2. Mondi Group 16.3. Ampac Holdings, LLC 16.4. Huhtamaki Oyj 16.5. Smurfit Kappa 16.6. WestRock Company 16.7. Amcor Plc 16.8. Sealed Air Corp 16.9. Winpak 16.10. Novolex 16.11. Printpack 17. Assumptions & Acronyms Used 18. Research Methodology
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Packaging Films Market
