Food Packaging Films Market Forecasts to 2028 – Global Analysis By Type (Rigid Packaging Films and Flexible Packaging Films), Material (Polyethylene Terephthalate, Polyethylene and Other Materials), Application (Convenience Foods, Bakery & Confectionery,

Food Packaging Films Market Forecasts to 2028 – Global Analysis By Type (Rigid Packaging Films and Flexible Packaging Films), Material (Polyethylene Terephthalate, Polyethylene and Other Materials), Application (Convenience Foods, Bakery & Confectionery, Meat, Poultry & Seafood and Other Applications), and By Geography

According to Stratistics MRC, the Global Food Packaging Films Market is accounted for $53.98 billion in 2022 and is expected to reach $87.58 billion by 2028 growing at a CAGR of 8.4% during the forecast period. A thin plastic coating known as packaging film is used to package, sell, and distribute various foods. It offers defence against the loss of nutrients, colour, fragrance, and flavour, as well as preservation of the food's functional qualities. Food is also shielded from the damaging effects of microbes by packaging sheets. Additionally, they shield food from liquids, gases, liquids, and dirt. Food goods such dry foods, liquid and semi-solid meals, meat, cheese, snack foods, biscuits, dairy products, and other bakery items are all packaged using packaging films.

According to the US Census Bureau, nearly 225 million customers in the United States, one of the leading fast-food markets globally, are anticipated to use disposable packaging via food service by 2023.

Market Dynamics

Driver

Increasing customers interest in orientated films

Demand for biaxially oriented films increased significantly, and it is anticipated that demand will continue to expand steadily during the projected period. A number of packaging film producers have decided to focus their manufacturing efforts on biaxially oriented film packaging as a result of the growing demand for these films. For superior mechanical, optical, and barrier characteristics, biaxial films are stretched in both the machine direction (MD) and the transverse direction (TD). These films may be used in a wide range of packaging sectors, both for food and non-food items are Polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), polyvinyl chloride (pvc), polyamide (PA), and other materials are used to create biaxially orientated films.

Restraint

Environmental impact

The environmental harm caused by food packaging films is one of its most important drawbacks. Because plastic is a non-biodegradable substance, it cannot break down naturally. The degradation of plastic garbage can take hundreds of years, killing animals and generating pollution. Another big source of ocean pollution that may have a disastrous impact on ecosystems and marine life is garbage. Moreover, the possible health dangers connected to particular types of plastics are another issue with food packing films. Chemicals like bisphenol A (BPA) and phthalates, which may leak into food and cause health hazards, are present in certain plastic containers.

Opportunity

Eco-friendly packaging innovations

Governments all around the world are putting an emphasis on lowering environmental pollution and enticing end-use industries to choose environmentally friendly options. In Europe, there are strict rules about plastic dumps. Packaging businesses are concentrating on eco-friendly solutions for environmental sustainability due to the rising worries about environmental degradation. The three 'R's' of eco-friendly packaging renew, reuse, and recycle are the standards by which green packaging items must abide. The governments of developing nations are pressuring manufacturers of packaging to offer more flexible natural biopolymer materials that are environmentally benign alternatives to conventional plastic.

Threat

Volatile raw material price

The cost of raw materials accounts for the majority of the expenses associated with producing food packaging films. Petroleum is utilised to create the polymers that are used in food packaging films. Given the fluctuating trend in crude oil prices and the need for polymers for a variety of applications, input cost pressure is to be expected. The market for food packaging films is significantly constrained by fluctuations in the price of the raw materials required to make polymers and the monomers used to make polymers. Logistics, labour costs, trading costs, and tariffs are the main factors influencing raw material pricing. All of these elements have an impact on the market for polymers, which in turn has an impact on the market for food packaging films.

Covid-19 Impact

The influence of COVID-19 on the worldwide market is less than that of other manufacturing sectors since the food industry was kept under vital services by all countries. Flexible packaging businesses that serve industries like packaged goods could fare well during the continuing epidemic. The need for packaged food is being fuelled by shifting consumer demand patterns, legislative initiatives, and stockpiling. Many customers in developing nations like India have switched from unpackaged food to packaged food as a result of the pandemic's increasing threat to food safety. Additionally, during the epidemic, the emergence of e-commerce shopping and flexible packaging for packaged goods contributed to the increase in domestic packaged food sales. The expansion of the market, however, is being constrained by trade barriers and supply chain disruptions.

The flexible packaging films segment is expected to be the largest during the forecast period

The flexible packaging films segment is estimated to have a lucrative growth; due to one of the most rapidly expanding segments of the packaging business is flexible packaging. Flexible packaging is more environmentally friendly and economical than a number of traditional packaging solutions. Flexible packaging film is made of the best materials and performs consistently and effectively throughout the life cycle of the items. It makes use of flexible substrates like plastic films and paper. Its outstanding qualities, including as transparency, twist retention, and superior shrinking, are what's driving its increased appeal.

The meat, poultry & seafood segment is expected to have the highest CAGR during the forecast period

The meat, poultry & seafood segment is anticipated to witness the highest CAGR growth during the forecast period, due to the rising consumer demand for these food items might be connected to growth in the meat, poultry, and seafood industries. Chicken, beef, hog, and seafood consumption has grown due to the expanding population. Chemical characteristics of meat and it’s by products include sensory qualities, microbial flora, and natural colours. The choice of packaging materials is made with care to safeguard the qualities of meat and its products thus boosting the growth of the market.

Region with highest share

Asia Pacific is projected to hold the highest market share during the forecast period owing to growing urban population levels and retail infrastructure, this area is anticipated to remain the biggest during the projection period. Growth, which is anticipated to boost the countries, as well as Japan's and India's, expanding need for packaged products, need in the region may be fuelled by rising disposable income and customer need for inexpensive, easily handled packaging that is also environmentally benign. Because there are many factories there and there is a growing market for frozen foods, China is a significant user of packaging.

Region with highest CAGR

Middle East & Africa is projected to have the highest CAGR over the forecast period, owing to rising demand for dairy products, meat, poultry, and seafood applications. The increase of western culinary culture and food service in the area is a sign of rising consumer demand, which will fuel industry expansion. The consumer lifestyle in South Africa, which further enhanced demand for packaged food films there, may be credited with the market expansion of that nation.

Key players in the market

Some of the key players profiled in the Food Packaging Films Market include Amcor plc, Graphic Packaging Holding Company, Berry Global, Coveris, Sealed Air Corporation, DS Smith, DuPont Teijin Films, WestRock, Sealed Air Corporation, Charter Next Generation, Mondi Group, AEP Industries Inc, Bemis Company Incorporation, Constantia Flexibles Group GmbH, Linpac Packaging Limited, Tetra Oak International S.A and Sonoco Products Company

Key Developments

In May 2023, Amcor announces its intent to acquire Moda Systems, The acquisition will complement Amcor’s existing strength in film, positioning the company to offer an end-to-end packaging solution that encompasses primary packaging, equipment, on-site technical service, and parts.

In April 2023, Berry Announces Expansion of its Leading Film Manufacturing Facility in Lewisburg, Tennessee, the expansion will support the growing demand for Berry’s highest performing, sustainable stretch films by creating space for three new cast lines

In Jan 2023, Amcor expands healthcare platform in Asia Pacific with acquisition of MDK, The addition of MDK also strengthens Amcor’s leadership in the broader Asia Pacific medical packaging segment.

Types Covered
• Rigid Packaging Films
• Flexible Packaging Films

Materials Covered
• Polyethylene Terephthalate
• Polyethylene
• Polypropylene
• Polyamide
• Other Materials

Applications Covered
• Convenience Foods
• Bakery & Confectionery
• Meat, Poultry & Seafood
• Fruits & Vegetables
• Dairy Products
• Medical & Pharmaceutical
• Industrial Packaging
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements