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The plastic films market size is forecast to increase by USD 68 million at a CAGR of 6.37% between 2023 and 2028. The market is experiencing significant growth, driven by the increased demand for barrier packaging to extend the shelf life of food and pharmaceutical products. This trend is particularly prominent in the food and beverage industry, where the use of plastic films for packaging is becoming increasingly prevalent. Another growth factor is the increasing use of LLDPE (Linear Low-Density Polyethylene) over other forms of polyethylene and polypropylene due to its superior properties, such as high clarity, excellent impact strength, and good sealability. However, the market faces challenges due to the high fragmentation of the industry, leading to increased competition among players. This competition puts pressure on prices and requires companies to continuously innovate to differentiate themselves and stay competitive. Despite these challenges, the market for plastic films is expected to continue growing, driven by the increasing demand for convenient and cost-effective packaging solutions.
The Market is witnessing significant growth due to the increasing demand for Flexible Packaging in various industries. Plastic films find extensive applications in Packaged Food and Beverage industries for their excellent Barrier properties that preserve freshness, extend Shelf Life, and maintain Vacuum Finish. The market is driven by the shift towards Recyclable and Reusable packaging solutions due to Stringent Regulations and a growing emphasis on Sustainability. Plastic films offer Sealing Strength and Flexibility, making them ideal for applications like Dairy Products, Confectionery, and Processed Food. Plastic films are also used in Non-packaging applications such as Agriculture, Construction, and Medical industries. The market is expected to grow further due to the demand for films with high Plastic Recyclability and superior Barrier properties against Moisture, Oxygen, and Contaminants. Urbanization and the increasing demand for Protective Packaging in various sectors are also expected to fuel market growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The polyethylene (PE) segment is estimated to witness significant growth during the forecast period. The Market encompasses a wide range of applications, primarily in the packaging of food and beverage products. This sector's growth is driven by the increasing consumption of packaged food and beverages, economic expansion, and rising disposable income.
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The polyethylene (PE) segment was the largest segment and was valued at USD 80.10 million in 2018. Flexible packaging, including plastic films, sheets, and pouches, offers advantages such as lightweight, flexibility, and excellent sealing strength. In the food industry, flexible packaging is extensively used for packaged dairy products, processed food, confectionery, and organic food. The beverage sector also relies heavily on flexible packaging for the distribution and preservation of their products. Recyclable and reusable packaging options are gaining popularity due to growing healthcare awareness and stringent regulations on plastic recyclability. Hence, such factors are fuelling the growth of this segment during the forecast period.
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Europe is estimated to contribute 25% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Market encompasses a wide range of applications, primarily in the packaging of food and beverages. This sector's growth is driven by the increasing consumption of packaged food, particularly in developing economies where economic expansion and rising disposable income contribute to a higher demand for convenient and protective packaging solutions. In the food industry, flexible packaging is extensively used for dairy products, processed food, confectionery, and organic packaged food due to its ability to provide a vacuum finish, enhancing shelf life and freshness preservation. Hence, such factors are driving the market in APAC during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand for barrier packaging is notably driving market growth. Plastic films have become indispensable in various industries due to their excellent barrier properties, protecting products from the intrusion of water, light, moisture, oil, aroma, and flavor. These films, particularly flexible ones, are increasingly preferred in sectors such as agriculture, construction, medical, urbanization, infrastructure, transportation networks, and consumer products.
Moreover, the food and pharmaceutical industries are significant markets for plastic films, as their products necessitate stringent protection to preserve quality and extend shelf life. Thus, such factors are driving the growth of the market during the forecast period.
Increased use of LLDPE over other forms of PE is the key trend in the market. The global market is witnessing significant growth due to the increasing demand from various industries such as agriculture, construction, medical, and consumer products.
Moreover, LLDPE (Linear Low-Density Polyethylene) and LDPE (Low-Density Polyethylene) are essential polyethylene sheeting liners used in the manufacturing of plastic films for packaging and non-packaging applications. Among these, LLDPE is gaining popularity due to its superior properties over LDPE. Thus, such trends will shape the growth of the market during the forecast period.
Increasing competition due to the high fragmentation of the market is the major challenge that affects the growth of the market. The market encompasses a multitude of industries, including Agriculture, Construction, Medical, Urbanization, Infrastructure, Transportation networks, and Consumer products.
Moreover, the market's growth is driven by the demand for durable and impact-resistant films, particularly in the Agriculture sector for greenhouse applications and in the Construction industry for insulation. In the Medical industries, multilayer films are essential for medical packaging and microwavable food containers. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AEP Group: The company offers plastics films that are used for vertical and horizontal packaging, secure envelopes, and garment film and covers.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Flexible Solutions for Food, Beverage, and Pharmaceutical Packaging The Market is a dynamic and expanding industry that caters to various sectors, primarily Flexible Packaging. This market encompasses a wide range of applications, including Packaged Food, Beverage, Dairy Products, Confectionery, Processed Food, and Organic Packaged Food. Plastic films are essential in these industries due to their unique properties, such as Sealing Strength, Flexibility, Vacuum Finish, and Shelf Life extension. Recyclable and Reusable plastic films are increasingly popular due to Stringent Regulations and growing Healthcare Awareness. The Flexible Packaging Market is driven by Economic Expansion and the rise of Disposable Income, leading to increased demand for Cosmetics and Pharmaceutical plastic packaging. Plastic films come in various forms, such as Sheets and PET Antifogging Compounds, and have applications beyond packaging, including Non-packaging applications. They offer excellent Barrier properties against Moisture, Oxygen, and Contaminants, ensuring Freshness preservation for various products. The Market is witnessing significant growth due to Mergers, Acquisitions, and Venture Capitalism in the industry. Plastic films are also used extensively in Organized Retailing, Exports, and various industries for Protective Packaging and Shrink wrap applications. The Flexible Pouches segment is expected to witness significant growth due to their lightweight and convenient nature. In conclusion, the Market is a vital industry that continues to evolve, offering innovative solutions for various sectors while adhering to environmental regulations and consumer demands.
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Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.37% |
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Market growth 2024-2028 |
USD 68 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.59 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 25% |
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Key countries |
China, US, Germany, India, Canada, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AEP Group, Altopro Inc., Amcor Plc, Berry Global Inc., Cheever Specialty Paper and Film, Copol International Ltd., Cosmo First Ltd., Inteplast Group, Jindal Poly Films Ltd., Novolex, Oben Holding Group, Poligal SA, Polyplex Corp. Ltd, Sealed Air Corp., SRF Ltd., Taghleef Industries SpA, Toray Industries Inc., Toyobo Co. Ltd., UFlex Ltd., and Vitopel |
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Market dynamics |
Parent market analysis, market report market report , market forecast market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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