The food packaging films market size was USD 49.8 billion in 2021 and is projected to reach USD 92.3 billion by 2034, at a CAGR of 6.4%

Food & beverage packaging is one of the largest segments of the packaging industry. Packaging plays a vital role in keeping the product fresh, damage-proof and acts as an efficient marketing tool. The food packaging films market has been growing in tandem with the growth of the food packaging industry

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The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing with 10 major regions and 30 major countries. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

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By Market Players:
Amcor
Intertape Polymer Group
Coveris
Mondi Group
TCL Packaging
Sealed Air
Darnel
Bollore Group
Uflex
Amerplast
Nordfolien
UltraPerf Technologies
NOW Plastics
Aera SA

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By Type
PE
PP
PET
Others

By Application
Fruits & Vegetables
Bakery & Confectionery
Ready-to-Eat
Others

Restraint: Volatile raw material costs
Most of the costs involved in making food packaging films are attributable to the raw materials. The polymers used in food packaging films are derived from petroleum. Given the volatile trend in crude oil prices and demand for polymers for various applications, the pressure on input costs can be expected to fluctuate. Fluctuation in raw material prices of polymers and monomers used for producing polymers is a major restraint to the growth of the food packaging films market. The prices of raw materials depend mostly on logistics (location of manufacturing), labor cost, trading cost, and tariffs. All these factors affect the growth of the market for polymers, which in turn affect the growth of the food packaging films market.India offers a huge potential for the tile & stone adhesives market. The current 20-25% usage rate of adhesives in the country is expected to reach almost 50% in the forecast period due to the increase in the use of these adhesives in high-end residential projects, commercial projects such as shopping malls, airports & metros, and the constantly upgrading hospitality industry.

Opportunity: Innovations in eco-friendly packaging
Governments across the world are focusing on reducing environmental pollution and encouraging end-use sectors to opt for eco-friendly solutions. There are stringent regulations for plastic landfills in Europe. The European Union intends to achieve 'zero plastics to landfill' by 2025. In view of the growing concerns related to environmental pollution, packaging companies are focusing on eco-friendly solutions for environmental sustainability. Green packaging products are designed to adhere to the three 'R's of eco-friendly packaging: renew, reuse, and recycle. Governments of developing countries are encouraging packaging solution providers to provide eco-friendly products made of natural biopolymer, which is more flexible than traditional plastic.

Based on type, the food packaging films market has been segmented as follows:
Flexible Packaging Films
Rigid Packaging Films
Based on material, the food packaging films market has been segmented as follows:
Polyethylene
Polypropylene
Polyethylene Terephthalate
Polyamide
Based on application, the food packaging films market has been segmented as follows:
Fruits & Vegetables
Bakery & Confectionery
Meat, Poultry & Seafood
Convenience Foods
Dairy Products
Based on the region, the food packaging films market has been segmented as follows:
North America
Europe
Asia Pacific
Middle East & Africa
South America
Recent Developments
In June 2022, Novolex launched RollStar EZ Open Produce Bags. The new bags use a proprietary recipe that makes them easy to open. The bags come in a wide variety of sizes and gauges, including versions certified as compostable by the Biodegradable Products Institute (BPI).
In May 2022, Berry Global collaborated with Poly-Ag Recycling and Clean Farms to launch Canada-based recycling initiative to recover used agricultural films, process recovered grain bag material, and produce new products with recycled content.
In August 2021, Sika acquired Bexel International S.A. de C.V., a leading manufacturer of tile adhesives and stuccos in Mexico. The acquisition strengthened Sika's position in the large, fast-growing Mexican construction market and significantly extended its manufacturing footprint.
In May 2022, Innovia announced the opening of a new 6.2 meter multi-layer co-extrusion line at its site in P³ock, Poland. The state-of-the-art line will manufacture low-density polyolefin shrink film for shrink sleeve labels and tamper evident applications.
In January 2019, The company acquired Europac, a large paper and packaging business listed on the Spanish stock exchange and operating, in Iberia and France.

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