Food Wrap Films Market - Competitive Landscape & Technological Breakthroughs Analysis in Next Few Years

Food wrap films are used to wrap food products to protect them from contamination, keep food fresh and enhance the shelf life of the food. Food wrap films are generally used for short-term preservation of prepared food. Besides, they are also used to package confectioneries like chocolate and to wrap processed food such as meat & sea-food to keep them fresh for an extended period. Furthermore, food wrap films are used to pack ready-to-eat food items.

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The global market for food wrap films is segmented as per material type and end use. The growing demand for on-the-go food and requirement of the increased shelf life of food items from the consumers is acknowledged as a critical factor driving the food wrap films market. The increase in demand for food service across the globe is expected to fuel the growth of global food wrap films market.

Aluminum-based food wrap films segment is estimated to dominate the global market with largest market share in the global food wrap films during the forecast period 2018-2026. Aluminum-based food wrap films are anticipated to have the high penetration in food wrap films market of APAC and Latin America. However, aluminum-based food wrap films are estimated to lose the market share in the food wrap films market of North America and Europe because of the maturity achieved by the demand of aluminum-based food wrap films in the geographies.

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Plastic-based food wrap films are projected to register the highest CAGR by the end of forecast period. Plastic segment is expected to produce better incremental revenue opportunity in the global food wrap films market share in the forecast period. MEA and North America are estimated to have the most significant plastic based food wrap films consumption. Plastic food wrap films have lower cost as compared with aluminum and paper food wrap films. Paper-based food wrap films have a smaller value share in the global food wrap films market and will continue to have the lowest share in the forecast period. Paper-based food wrap films are expected to have the highest demand in the food wrap films market of MEA. Latin America and APAC are estimated to have the least share of paper-based food wrap films during the forecast period.

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