PVDC Coated Films Market Surges: Projected to Reach USD 12.3 Billion by 2028, Driven by Demand for Enhanced Food Packaging And Pharma Packaging

The PVDC coated films market is displaying robust growth potential, with an estimated value of USD 9.4 billion in 2022 and a projected increase to USD 12.3 billion by 2028, representing a compound annual growth rate (CAGR) of 4.6% from 2022 to 2028. Despite the initial challenges posed by the COVID-19 pandemic, the demand for PVDC coated films, particularly in the food sector, is expected to rebound steadily. In 2022, the food category is anticipated to reach USD 4.6 billion and is forecasted to grow at a CAGR of 4.8% throughout the forecast period.

Remarkably, the U.S. PVDC coated films market is defying pandemic-related uncertainties, with an anticipated year-over-year growth of 3.2% during the forecast period. North America, as a whole, is projected to see total sales of PVDC coated films reach USD 2.3 billion in 2022.

The driving force behind this growth is the heightened demand from the food and pharmaceutical industries, which seek PVDC coated films for their exceptional barrier properties against gases and water vapor. In particular, the food industry is expected to dominate the market, accounting for nearly half of the market share between 2022 and 2028. These films not only extend the shelf life of food products but also enhance their aroma and taste, aligning with consumers' growing concerns about product freshness and quality. As such, PVDC coated films are playing a pivotal role in ensuring product integrity and safety in the packaging industry.

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Key Takeaways from PVDC Coated Films Market Study

The U.S. is forecast to project the fastest growth in North America, accounting for around 85% of the regional demand in 2022.
Germany is projected to emerge as a highly remunerative market in Western Europe, contributing nearly 28% of the sales in 2021.
Japan PVDC coated films market is forecast to account for 24% of the revenue share in East Asia, exhibiting sales at 4.1% CAGR over the assessment period.
India is expected to hold a significant share in the Asia Pacific excluding Japan market, owing to the increasing demand for eco-friendly packaging solutions in the country.
In terms of application, the pouches & bags segment is estimated to hold 36% of the total market share, expanding at 5.2% CAGR between 2022 and 2028.

Key Drivers

Introduction of chlorine-free and biodegradables PVDC coated films for packaging applications to decrease the environmental impact is favoring the growth in the market.
Increasing use of PVDC coated films for packaging products such as body lotions, shampoo, serums, face creams, and others owing to its out shading barrier properties is propelling the demand in the personal care and cosmetics industry.

Key Restraints

Presence of chlorine in the PVDC coated film's chemical composition turns the films yellow with time and makes them prone to cracking after a certain period of time. Hence, manufacturers are shifting towards the adoption of better alternatives which is hampering the growth in the market.
High cost of production and implementation of strict regulations towards the use of plastic such as polypropylene (PP), polyvinylchloride (PVC), and polyethylene terephthalate (PET) is restraining the sales of PVDC coated films.

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Competitive Landscape

The key manufacturers operating in PVDC coated films market are trying to focus on increasing their production capacity to meet the increasing demand for PVDC coated films. Moreover, the key players are increasing their product portfolio to cater for the growing PVDC coated films market.

In January 2021, a company named Neschen, an expert substrate manufacturer has introduced and specially designed a coated polypropylene (PP) film for use with water-based inks and HP Indigo ElectroInk.

In September 2020, a lidding films and flexible packaging supplier named KM Packaging, the company introduced a new range of mono-polymer material lidding films which is originated for recyclability and which is made from polypropylene (PP).

PVDC Coated Films Market by Category

By Substrate Material:

Polyethylene (PE)
Polyethylene Terephthalate (PET)
Polyvinylchloride (PVC)
Polypropylene (PP)
Polyamide (PA)
By Application:

PVDC Coated Films for Laminates
PVDC Coated Films for Wraps
PVDC Coated Films for Lidding Films
PVDC Coated Films for Pouches & Bags
PVDC Coated Films for Blisters
By End Use:

Food
Fruits & Vegetables
Meat, Poultry & Seafood
Bakery & Confectionery
Ready-to-Eat
Dairy Products
Healthcare & Pharmaceuticals
Cosmetics & Personal Care
Others

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This release was published on openPR.