Forming Films Market Lucrative Opportunites By 2024
Forming films is one of the important packaging solutions for the manufacturers of dairy, meat & poultry manufacturers. Forming films are gaining traction for some useful properties such as uniform thickness, clarity and lay flat. Forming films comes in both breathable and barrier structures in order to maximize the shelf life of the product.
Forming Films: Market Dynamics
Global forming films market is expected to be primarily driven by the increasing growth of meat packaging during the forecast period. Increasing preference for meat and poultry product among consumers are positively influencing the sales of forming films in the near future.
Moreover, food retail outlets are growing very fast particularly in the Europe and North America that is expected to fuel the sales of forming films. Forming films increases the shelf life of the product by creating a barrier from the moisture. In addition, forming films are also used as a packaging solution for the sea food.
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Also the changing life styles coupled with the rapid urbanization is also one reason for increasing demand of meat packaging that in turn positively influence the demand of forming films during the forecast period. Mainly forming films offer clear and visible external packaging that is creating a huge buzz in the overall forming films market.
Increasing consumer preference towards frozen food is expected to create a massive impact in the overall market owing to the busy schedule of the consumer coupled with the preference of ready to eat foods. Forming films is also used in the bakery & confectionary product that is further driving the demand of the forming films market.
Moreover, forming fills also used in different pharmaceutical products such as surgical kits, tubing sets, gauze, syringes etc. Mounting growth of dairy industry is also anticipated to stimulate the sales of forming films owing to the massive usage in cheese packaging.
In terms of geography, the global forming films market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East.
North America is expected to remain its dominance as compare to the other regions during the forecast period owing to the massive demand of meat & poultry packaging along with the demand of bakery industry. Asia Pacific is expected to witness highest CAGR for the growing demand of food industry.
Also, presence of developing economies like India, China and ASEAN countries are further propelling the sales of forming films during the forecast period. Europe is also expected to witness a healthy growth during the forecast period. Latin America is also expected to witness moderate growth owing to the increasing growth of dairy products in Argentina.
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Forming Films Market: Key players
Some of the key players in the global forming films market are Bemis Company Inc, Advanced Barrier Extrusions, LLC., Coveris Holdings S.A., Clear Lam Packaging, Inc., Sealed Air Corporation, Kendall Packaging Corporation., Flexaco etc.
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