Global Sustainable Films for Packaging Market
Dublin, Nov. 18, 2022 (GLOBE NEWSWIRE) -- The "Sustainable Films for Packaging Market - A Global and Regional Analysis: Focus on Material, Applications, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global sustainable films for packaging market was estimated at $140.0 billion in 2021 and is expected to reach $276.2 billion by 2031, growing at a CAGR of 7.0% during the forecast period 2022-2031.
The growth in the global sustainable films for packaging market is expected to be driven by an increasing focus on the circular economy and the growing awareness of its environmental benefits among end users and consumers. However, the lack of recycling technology and the high cost of raw materials are some key restraining factors for the market.
Market Lifecycle Stage
The global sustainable films for packaging market is in a growing phase. New trends, such as the development of bioplastics, are further expected to provide opportunities for the market to grow in the coming years.
With an increased worldwide focus on the circular economy, the shift toward eco-friendly industrial practices is increasing, thereby creating demand for sustainable products. The shift is more prominent in the food and beverages industry in regions such as Europe and North America.
Impact of COVID-19
The COVID-19 pandemic had a huge impact on the global sustainable films for packaging market. It altered the market in both positive as well as negative ways. During the COVID-19 pandemic, sectors that help meet necessities, such as providing food and supplies to consumers securely, were increasingly disrupted.
Among different sustainable films used for packaging in end-use applications, the food and beverage segment is expected to be the largest application during the forecast period 2022-2031.
Among different types of materials, the polyethylene segment led the market in 2021 and is estimated to lead the market during the forecast period 2022-2031 as well.
Europe led the sustainable films for packaging market in 2021 and is anticipated to uphold its dominance throughout the forecast period.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of materials available for sustainable films for packaging and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different sustainable films for packaging applications in industries such as food and beverages, pharmaceutical, personal care, consumer goods, and consumer electronics.
Growth/Marketing Strategy: Business expansion, partnership, collaboration, and joint venture are some key strategies adopted by key players operating in the space. For instance, in February 2022, Sealed Air increased its recyclable barrier display film portfolio to improve recyclability across European food supply chains. The company launched two new low-density polyethylene (LDPE) mechanical recycling and chemical recycling compatible Cryovac Brand Eco BDF films, namely, Eco BDF20M and Eco rBDF20M.
Competitive Strategy: Key players in the global sustainable films for packaging market analyzed and profiled in the study involve sustainable packaging film providers. Moreover, a detailed competitive benchmarking of the players operating in the global sustainable films for packaging market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Recent Developments in Sustainable Films for Packaging Market
In February 2022, Sealed Air increased its recyclable barrier display film portfolio to improve recyclability across European food supply chains. The company launched two new low-density polyethylene (LDPE) mechanical recycling and chemical recycling compatible Cryovac Brand Eco BDF films, namely, Eco BDF20M and Eco rBDF20M.
In April 2022, ProAmpac announced the launch of its latest ProActive Recyclable R-2000S, which is made up of recyclable polyethylene material.
In June 2021, Amcor plc launched AmPrima PE Plus ultra-clear and heat resistance films. The AmPrima PE Plus product uses raw materials which are ready for recycling processes and manufacturing. These films are easy-to-recycle and are effective at reducing carbon footprints.
In November 2021, Rani Plast made significant additional investments to boost production capacity for recycled packaging film. Furthermore, the new lines would cut production waste, increase packaging film quality, and allow the company to employ other raw materials, such as recycled plastic granules.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some prominent names in this market are:
Berry Global Inc.
TORAY ADVANCED FILM CO., LTD.
Bleher Folientechnik GmbH
ePac Holdings, LLC.
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Trends: Current and Future
126.96.36.199 Circular Packaging and the Circular Economy
188.8.131.52 Bioplastics in Packaging
1.1.2 Supply Chain Network
1.1.3 Impact of COVID-19 on Sustainable Films for Packaging Market
1.1.4 Ecosystem/Ongoing Programs
1.2 Business Dynamics
1.2.1 Business Drivers
184.108.40.206 Growing Government and Industrial Initiatives to Reduce Plastic Waste
220.127.116.11 Increasing Demand for Mono-Material Plastic Packaging
1.2.2 Business Challenges
18.104.22.168 Lack of Technological Advancement around Recycling
22.214.171.124 High Cost and Inadequate Production of Bio-Based Raw Materials
1.2.3 Business Strategies
126.96.36.199 Product Developments
188.8.131.52 Market Developments
1.2.4 Business Opportunity
184.108.40.206 Upcoming Trends of Bioplastics
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2.1 Global Sustainable Films for Packaging Market (Applications and Specifications)
2.1.1 Food and Beverage
2.1.3 Consumer Goods
2.1.4 Personal Care
2.1.5 Consumer Electronics
2.2 Demand Analysis of Sustainable Films for Packaging Market (by Application), Value and Volume Data
3.1 Sustainable Films for Packaging Market - Products and Specifications
3.1.1 Polypropylene (PP)
3.1.2 Polyethylene (PE)
3.1.3 Polyethylene Terephthalate (PET)
3.1.4 Others (PLA and Cellulose)
220.127.116.11 Polylactic Acid (PLA)
3.2 Demand Analysis of Sustainable Films for Packaging Market (by Material), Value and Volume
3.3 Product Benchmarking: Growth Rate - Market Share Matrix
3.4 Global Pricing Analysis
4.1.1 Buyer Attributes
4.1.2 Key Manufacturers/Suppliers in the U.S.
4.1.3 Business Challenges
4.1.4 Business Drivers
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis
5.2 Company Profiles
5.2.1 Company Overview
18.104.22.168 Role in the Sustainable Films for Packaging Market
22.214.171.124 Product Portfolio
126.96.36.199 Business Strategies
188.8.131.52.1 Market Development
184.108.40.206.2 Product Development
220.127.116.11 Corporate Strategies
18.104.22.168.1 Partnerships, Collaborations, and Joint Ventures
22.214.171.124 R&D Analysis
126.96.36.199 Analyst's View
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