Growth of global packaging films market driven by food and beverage industry

22-Jun-15

Packaging films are majorly used to enhance the shelf life of the food products or consumer goods. 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. 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 US 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.