Global BOPP Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global BOPP Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The BOPP film market is expected to register a CAGR of 6.5% during the forecast period. Because BOPP films are more flexible and are speedier in packaging with better sealing properties than other packaging materials, the market trend is forecasted to increase in the anticipated years. Materials.

Key Highlights

• BOPP films are increasingly used in the packaging, labeling, and lamination industries. Due to their inherent moisture barrier qualities, sealability, great clarity and image reproduction, and shelf appeal, these films are the preferred substrates for food packaging worldwide. The pack has the best chances of being homogeneous or in a monolayer.
• Due to their affordability and 100% recyclable nature, BOPP bags and pouches are becoming more and more popular because they are eco-friendly. The great visual value of BOPP bags and pouches gives the products used for packaging an extra promotional feature.
• Increased consumption of packaged items, which require packaging to protect the commodities from contamination and damage, was brought on by the growth of e-commerce in food and beverages, the better economic climate, and rising disposable income. Over the projected year, this trend is anticipated to increase the vendor's production capacity and growth.
• The market is being driven by environmental regulations opening the way for flexible packaging requirements since employing flexible packaging instead of rigid packaging results in notable environmental benefits. The environmental advantages of using a flexible pouch were examined in a case study by the Flexible Packaging Association. The findings showed that switching from rigid to flexible packaging resulted in manufacturing processes using an equivalent amount of 87% less coal or 64% less crude oil and 79% fewer CO2 emissions.
• The BOPP Films market is anticipated to expand due to the recent COVID-19 outbreak due to rising demand from FMCG companies and the food packaging industry. For instance, the market's need for these BOPP films is increased by the transition from rigid to flexible packaging. Flexible packaging is in high demand in several product categories, like soap.

Key Market TrendsBeverage Vertical to Drive the Market Growth

• Flexible packaging is essential for lowering beverage and product waste and enables online retailers to improve the e-commerce experience by fortifying their packaging. Due to its limited gauge spread, BOPP film, widely utilized in this market, consistently and excellently guarantees seal integrity.
• The production of dairy products is rising, causing the BOPP film market to expand steadily. Milk and dairy products must be stored carefully and shielded from air and light. Danaflex offers a large selection of BOPP film packaging for all cost-effective dairy products, mostly clear and opaque white film. Transparent and opaque white film for all cost-effective dairy products. Their protective lacquer protects the ink layer from mechanical and heats impact, together with good sliding behavior during filling operations.
• Expanding demand from the filtered water, tea, and carbonated soda pop markets further increase the need for advanced packaging. BOPP films are the type of packaging used largely in the beverages industry owing to their healthy characteristics and inexpensive cost structure.
• Southeast Asia holds the second-largest market for US dairy exports, valued at USD 1.4 billion in 2021, an increase of 11% over the previous year. And according to USDEC (US Dairy Export Council), Southeast Asian customers are consciously aware of artificial food ingredients. They prefer flexible packaging that significantly preserves the integrity of natural and clean-label products. The above factor increases the demand for BOPP films in this region.

North America Account for Significant Market Share

• Numerous BOPP film suppliers in North America are updating their product lines to meet the region's growing need for eco-friendly packaging options. Customers can more easily inspect the goods thanks to BOPP films offering transparency in product packaging, which is driving the market's expansion in this area.
• In North America, retail stores generate the most revenue from food products. Due to their adaptability, capacity to be customized, effectiveness in preserving resources, and sustainability, flexible packaging goods like BOPP films have become the region's favored type of packaging. Because they are lightweight, they also provide consumers with a convenient shopping experience by reducing the effort needed to transport the goods.
• The advanced estimates of US retail and food services sales for July 2022 were released by the US Census Bureau. They were adjusted for seasonal variation and variances in holidays and trading days but not for price changes. It stood at USD 682.8 billion, virtually unchanged (±0.5 percent) from the previous month but 10.3 percent (±0.7 percent) above July 2021. Total sales for May 2022 through July 2022 were up 9.2 percent (±0.5 percent) from the same period a year ago. Such instances assure that the market will grow over the forecast period.
• Additionally, the area is a large exporter and consumer of meat products. The market has been boosted by increased beef and pork products across the nation's extensive and powerful retail chains. Due largely to the increasing demands of end users, the market under study is experiencing numerous expansions and new debuts in the area.

Competitive Landscape

The BOPP film market is moving toward a fragmented market. With players such as Taghleef Industries, Wenzhou Gettel Plastic Industry Co. Limited and SRF Limited, NAN YA Plastics Corporation., and Toray Industries Inc. operating in the market. The packaging market comprises several global and regional players vying for attention in a contested market.

• May 2022 - Innovia Films announced an investment of USD 70 million in new film capacity in Germany. A new 8-meter wide multi-layer co-extrusion line will produce highly engineered thin gauge label films to support the growing, sustainability-driven demand for lower resin content materials; this would further increase the supplying capacity of the company across the area.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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