Packaging Films Market Booms to US$ 74 Billion by 2030, Fueled by Convenience, Sustainability, and Innovation, Reveals RationalStat Market Report

The global food packaging films market is expected to reach US$ 74.1 billion by 2030, with an annual growth rate of more than 6.2%.

According to RationalStat's recent industry analysis, the Global Food Packaging Films Market value is estimated at US$ 48.6 billion in 2023 and is expected to rise at a strong CAGR of over 6.2% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Food packaging films refer to flexible materials used for wrapping, protecting, and preserving food products. These films are commonly made from various materials such as plastic, paper, aluminum, and other laminated structures.
Ongoing innovations in packaging technology have led to the development of advanced food packaging films. These innovations include features such as resealable closures, microwave-safe materials, and modified atmosphere packaging to enhance the consumer experience.

According to a deep-dive market assessment by RationalStat, the global Food Packaging Films market has been analyzed on the basis of market segments, including type, material, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global Food Packaging Films market covers market sizes on the basis of market value (US$/EUR Million), volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Food Packaging Films market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Food Packaging Films Market: Segmental and Market Share Analysis
• On the basis of application, bakery and confectionery segment accounted for the highest market share. Baked foods are a popular choice for mixed families and students due to their convenience.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 48.6 billion
Market Size Forecast US$ 74.1 billion
Growth Rate 6.2%
Dominant Segment Bakery and Confectionery
Dominant Region Asia Pacific

Key Market Drivers
• Increasing preference for environmentally friendly packaging
• Growing demand for packaged goods

Companies Profiled
• Amcor Plc
• Berry Global Inc
• Bemis Company Incorporation
• Coveris Group
• Crown Holdings Inc
• Mondi Group
• Dow Chemical Company
• Wipak Walsrode GmbH & Co KG
• Stora Enso Inc
• DS Smith
• Charter NEX Films Inc
• Constantia Flexibles Group
• AEP Industries Inc
• Sonoco Products Company
• Tetra Oak International S.A.

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global food packaging films market include.

• In June 2022, RollStar EZ Open Produce Bags. The reusable grocery bags are easy to open owing to a proprietary recipe. The bags are in various dimensions and gauges, such as compostable variants certified by the Biodegradable Products Institute (BPI).

Some of the prominent players and suppliers operating and contributing significantly to the global food packaging films market growth include Amcor Plc, Berry Global Inc, Bemis Company Incorporation, Coveris Group, Crown Holdings Inc, Mondi Group, Dow Chemical Company, Wipak Walsrode GmbH & Co KG, Stora Enso Inc, DS Smith, Charter NEX Films Inc, Constantia Flexibles Group, AEP Industries Inc, Sonoco Products Company, and Tetra Oak International S.A., among others.

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RationalStat has segmented the global food packaging films market based on type, material, application and region

• Global Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Type
o Flexible Packaging Films
o Rigid Packaging Films
• Global Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Material
o Polyethylene
o Polypropylene
o Polyethylene Terephthalate
o Polyamide
o Polyester
o PVC
• Global Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Application
o Fruits & Vegetables
o Bakery & Confectionery
o Meat
o Poultry & Seafood
o Convenience Foods
o Dairy Products
• Global Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
o North America Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 US
 Canada
o Latin America Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Food Packaging Films Market Value (US$ Million), Volume (Tons) and Market Share (2019-2030) Analysis by Region
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Food Packaging Films Report:
• What will be the market value of the global Food Packaging Films market by 2030?
• What is the market size of the global Food Packaging Films market?
• What are the market drivers of the global Food Packaging Films market?
• What are the key trends in the global Food Packaging Films market?
• Which is the leading region in the global Food Packaging Films market?
• What are the major companies operating in the global Food Packaging Films market?
• What are the market shares by key segments in the global Food Packaging Films market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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