Packaging films are used in various applications such as personal care, food & beverages and pharmaceutical among others. The main driver for the global packaging films market is huge demand from food and beverages industry, as per Persistence Market Research. Packaging films are used to increase shelf life of various products such as meat, fruits, vegetables, snacks and biscuits among others. Packaging films helps to maintain the texture and quality of the products. In addition, packaging films are also used in packaging of beverages and ice packs. Most commonly preferred raw materials in food packaging industry are cellulose, BOPP and polypropylene among others. Other major outlets for the packaging films market are consumer goods and medical & pharmaceutical industry. Packaging films are used to wrap various tablets and other medical products. In consumer goods market, packaging films are majorly used in personal care and cosmetics packaging. Packaging films are used in packaging of shampoo, soap and other cosmetics creams and gels. Biodegradable films are likely to provide major opportunities in packaging films market owing to increasing demand for bio-based products from consumers. In spite of numerous applications and opportunities, stringent regulations associated with the use of raw materials from various regulatory bodies such as US FDA and REACH can act as a major restraint for the packaging films market in next few years to come.
In terms of demand, Asia Pacific was the leading region for the packaging films market. The demand in this region was mainly driven by food and packaging industry. Increasing disposable incomes and growing standard of living is likely to be major factor for the packaging films market in this region. Major countries such as India, China and Japan exhibited the highest demand for packaging films in this region. Asia Pacific was followed by North America. Increasing demand from food packaging, medical and pharmaceutical and consumer goods were the major consumers for packaging films in this region. The U.S. had the largest market share for packaging films owing to huge demand from various applications including industrial packaging as well. North America was closely followed by Europe which has huge demand for packaging films from food and beverages industry. European countries such as Germany, the UK, Italy, France and Netherlands had the largest demand for packaging films. However, certain food regulations associated with the raw materials for packaging films can act as a restraint to the market. The Rest of the World is likely to show potential growth for the packaging films market throughout the forecast period. The Middle East and South America are likely to be major consumers for the packaging films in this region.
The market for packaging films is fragmented where there are many global and small players dominating the regions. Some of the major manufacturers in the packaging films market are Amcor limited, Berry Plastics Company, DuPont Teijin Films, Graphics Packaging Holding Corporation, Sigma Plastics Corporation, The Dow Chemical Company and Taghleef Industries Llc among others. New and innovative product development is one of the major corporate strategies in the market