DUBLIN–(COMMERCIAL WIRE)–The report “Sustainable Packaging Films Market: A Global and Regional Analysis: Focus on Material, Applications and Region: Analysis and Forecast, 2022-2031” was added to researchandmarkets.com offering.
The global market for sustainable packaging films was estimated at $140.0 billion in 2021 and is expected to reach $276.2 billion by 2031, growing at a CAGR of 7.0% over the forecast period 2022- 2031.
Growth in the global market for sustainable packaging films is expected to be driven by an increasing focus on the circular economy and increasing awareness of its environmental benefits among end-users and consumers. However, the lack of recycling technology and the high cost of raw materials are some key restrictive factors for the market.
Market life cycle stage
The global market for sustainable packaging films is in a growth phase. Furthermore, new trends such as the development of bioplastics are expected to provide opportunities for the market to grow in the coming years.
With increased global focus on the circular economy, the shift towards green industrial practices is increasing, thus creating a demand for sustainable products. The change is most prominent in the food and beverage industry in regions such as Europe and North America.
Impact of COVID-19
The COVID-19 pandemic had a major impact on the global market for sustainable packaging films. It altered the market both positively and negatively. During the COVID-19 pandemic, sectors that help meet needs, such as safely providing food and supplies to consumers, have been increasingly affected.
Among the different sustainable films used for packaging in end-use applications, the food and beverage segment is expected to be the largest application during the forecast period 2022-2031.
Among the different types of materials, the polyethylene segment led the market in 2021 and is estimated to lead the market during the forecast period 2022-2031 as well.
Europe led the sustainable packaging film market in 2021 and is forecast to maintain its dominance throughout the forecast period.
How can this report add value to an organization?
Product Strategy/Innovation: The product segment helps the reader understand the different types of materials available for sustainable packaging films and their potential globally. Additionally, the study provides the reader with a detailed understanding of different sustainable films for packaging applications in industries such as food and beverage, pharmaceutical, personal care, consumer goods, and consumer electronics.
Growth/Commercialization Strategy: Business expansion, partnership, collaboration, and joint venture are some of the key strategies adopted by key players operating in the space. For example, in February 2022, Sealed Air increased its portfolio of recyclable barrier display films to improve recyclability in European food supply chains. The company launched two new Cryovac-branded Eco BDF films compatible with mechanical recycling and chemical recycling of low-density polyethylene (LDPE), namely Eco BDF20M and Eco rBDF20M.
Competitive Strategy – The key players in the global sustainable packaging film market analyzed and profiled in the study involve sustainable packaging film suppliers. Furthermore, a detailed competitive benchmarking of players operating in the global Sustainable Packaging Films Market has been conducted to help the reader understand how the players stack up against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped pockets of revenue in the marketplace.
Recent developments in the sustainable packaging film market
In February 2022, Sealed Air increased its portfolio of recyclable barrier display films to improve recyclability in European food supply chains. The company launched two new Cryovac-branded Eco BDF films compatible with mechanical recycling and chemical recycling of low-density polyethylene (LDPE), namely Eco BDF20M and Eco rBDF20M.
In April 2022, ProAmpac announced the launch of its latest ProActive Recyclable R-2000S, which is made from recyclable polyethylene material.
In June 2021, Amcor plc launched AmPrima PE Plus ultra-clear, heat-resistant films. The AmPrima PE Plus product uses raw materials that are ready for recycling and manufacturing processes. These films are easy to recycle and are effective in reducing the carbon footprint.
In November 2021, Rani Plast made significant additional investments to increase the production capacity of recycled packaging films. In addition, the new lines would reduce production waste, increase the quality of the packaging film and allow the company to use other raw materials, such as recycled plastic pellets.
Synopsis of key market players and competition
The companies being profiled were selected based on input collected from leading experts and analysis of company coverage, product portfolio, and market penetration.
Some prominent names in this market are:
Global Berry Inc.
TORAY ADVANCED FILM CO., LTD.
Bleher Folientechnik GmbH
ePac Holdings, LLC.
Key topics covered:
1.1 Industry Perspective
1.1.1 Trends: Current and Future
22.214.171.124 Circular Packaging and Circular Economy
126.96.36.199 Bioplastics in packaging
1.1.2 Supply chain network
1.1.3 COVID-19 Impact on the Sustainable Packaging Films Market
1.1.4 Ecosystem/Ongoing Programs
1.2 Business dynamics
1.2.1 Business drivers
188.8.131.52 Growing government and industry initiatives to reduce plastic waste
184.108.40.206 Growing demand for mono-material plastic containers
1.2.2 Business challenges
220.127.116.11 Lack of technological progress around recycling
18.104.22.168 High cost and inadequate production of bio-based raw materials
1.2.3 Trading strategies
22.214.171.124 Product developments
126.96.36.199 Market evolution
1.2.4 Business opportunity
188.8.131.52 Next trends of bioplastics
1.3 Commissioning overview
1.3.1 Key Start-Ups in the ecosystem
2.1 Global Sustainable Packaging Films Market (Applications and Specifications)
2.1.1 Food and Drinks
2.1.3 Consumer goods
2.1.4 Personal Care
2.1.5 Consumer electronics
2.2 Sustainable Packaging Films Market Demand Analysis (By Application), Value and Volume Data
3.1 Market for Sustainable Packaging Films: Products and Specifications
3.1.1 Polypropylene (PP)
3.1.2 Polyethylene (PE)
3.1.3 Polyethylene terephthalate (PET)
3.1.4 Others (PLA and Cellulose)
184.108.40.206 Polylactic acid (PLA)
3.2 Sustainable Packaging Films Market Demand Analysis (By Material), Value and Volume
3.3 Product Benchmarking: Growth Rate – Market Share Matrix
3.4 Global price analysis
4.1.1 Buyer attributes
4.1.2 Key US Manufacturers/Suppliers
4.1.3 Business challenges
4.1.4 Commercial drivers
5 Markets – Competitive Benchmarking and Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product matrix for key companies
5.1.3 Market share analysis
5.2 Company profiles
5.2.1 General description of the company
220.127.116.11 Role in the market for sustainable packaging films
18.104.22.168 Product portfolio
22.214.171.124 Trading strategies
126.96.36.199.1 Market development
188.8.131.52.2 Product development
184.108.40.206 Corporate strategies
220.127.116.11.1 Partnerships, collaborations and joint ventures
18.104.22.168 R&D analysis
22.214.171.124 Analyst View
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