Global Plastic Film Market is Estimated to Earn Revenues Worth USD 220.25 billion During Forecast Period | Amcor plc, Berry Global, Inc, Sealed Air Corporation, Cosmo Films Limited, HuhtamŠki Oyj, ProAmpac LLC

The plastic film market was valued at USD 183.46 billion in 2019 and is expected to reach USD 220.25 billion by 2025, at a CAGR of 3% over the forecast period 2020- 2025. According to numbers generated by a Harris Poll chartered by the Flexible Packaging, 83% of all brand owners are currently using flexible packaging of some type. This supports the growth of the pouch packaging market.

The plastics films report considered flexible plastic films in the form of bags, sachets, pouches and heat-sealable flexible lidding materials. This report is segmented on the basis of different materials and their applications. The report also covers the five geographic regions; North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin Africa. The plastic film demand is driven by the food & beverage sector, whose demand is non-discretionary and steadily growing.

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Market Segmentation-

The Global Plastic Film market report chiefly includes following manufacturers-

Amcor plc, Berry Global, Inc, Sealed Air Corporation, Cosmo Films Limited, HuhtamŠki Oyj, ProAmpac LLC, Jindal Poly Films, Toray PlasticsÊAmerica, Inc.

Global Plastic Film Market Competitive Landscape:

Increasing Demand of Packaged Food Offers Potential Growth

- The food industry is the largest end-user of plastic films and has seen continued, strong growth due to a rise in convenient packaging for ready-to-eat foods, snacks, frozen meals, and cake mixes.
- Factors such as convenience to flexibility, strong sealing strength, and vacuum finish are positively influencing the plastic film market growth.
- Moreover, scientists across the globe are working on different technologies which could result in increasing shelf-life of the packaged food. Recently in September 2019, Washington State University scientists experimented a metal oxide which when coated to a layer of the plastic film, would significantly increase the shelf life of the food. This metal oxide was tasted on cheese and tested after three years of storage and found the taste was as good as the previous version that was stored for nine months.
- They are working closely with the US Army to improve their "Meals Ready to Eat" (MREs) to stay tasty and healthy for three years. Such advancement in technology is expected to have a positive outlook on the market.
- Additionally, with the growth of the packaged food industry in developing nations like India, it can be inferred that the overall packaged food industry will flourish. Additionally, Accenture predicted that by 2050, 66% of the world's population will be staying in the urban area and thus in return it will help in the growing packaged food industry, which in return would help in the flourishing of the plastic film market in the packaged food industry..

Recent Updates:

- July 2019 - Berry Global Group, Inc. announced the acquisition of RPC Group Plc (RPC) for a purchase price of approximately USD 6.5 billion. Through this acquisition, the company visibility in Australia gets strengthens because of the subsidiaries of RPC Group such as Synergy Packaging.

- August 2018 - Orara Packaging announced the acquisition of Bronco Packaging and Pollock packaging based in Texas by investing over USD 24 million and USD 80.5, respectively as part of its expansion strategy in the North American market for its OPS business.

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Major Highlights of Plastic Film Market report:

-Plastic Film Market Overview

-Market Competition by Manufacturers

-Industrial Chain, Sourcing Strategy and Downstream Buyers

-Marketing Strategy Analysis, Distributors/Traders

-Market Effect Factors Analysis

-Global Plastic Film Market Forecast (2019-2025)

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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