Food Packaging Film Market Expected to Reach $12.0 Billion by 2026 with a CAGR of 2.0%: Transparency Market Research, Inc.

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The food industry has evolved considerably. Due to this, the demand for packaging sheets and films is also increasing. Awareness of leftover food is increasing, leading consumers to bag leftover food from restaurants. This therefore constitutes another driving force for the considered market.

Wilmington, Delaware, United States, March 11, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The expected market valuation of global food packaging film market is 12.0 billion US dollars, which the market is expected to reach by 2026. In the case of the current market valuation, the last measured value was in 2021, which is around 10.8 billion US dollars . The progression expected by the market is slow at a CAGR of 2.0%.

Looking at the fundamental driver of the market, it is clear from the growing demand for flexible wrapping and packaging solutions for the food industry that foils, wraps and films are frequently required. Therefore, this creates a demand for the market in question. Additionally, this factor allows food transportation with better handling and shelf life. Due to this, consumer demand is also increasing.

Consumers are demanding more cost-effective and environmentally friendly products so that food transportation becomes more convenient. These purposes are primarily fulfilled by aluminum foil. Apart from this, the weight of the film is negligible and therefore proves to be another driver of the market in question.

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The restaurant industry is emerging in the modern business world. As a result, there is a growing demand for better food packaging and delivery. This is best served using different materials of foil and wrapping film. So this is another market driver.

Key Findings of the Market Report

  • The global food packaging films market operates in limited market segments. From the perspective of the market segment of the material used, it is obvious that aluminum is a widely used material. Aluminum sheets find versatile applications; this market segment is therefore vast.

  • Apart from this, plastic material constitutes a crucial vertical in the widely used market segment. Polyethylene film carrier bags are widely used in the food industry.

  • From the perspective of the industry using food packaging films, the retail sector uses several food protective films to cover store items.

  • Additionally, meat buyers, a segment of the food industry, are making greater use of polyethylene films.

Regional profile

  • When it comes to the market share secured by different continents in the global food packaging film market, Europe is expected to hold the largest share. This is due to the availability of labor on the continent and lower production costs. In addition, there are more points of sale in different European countries, which facilitates sales of packaging films.

  • Asia Pacific is the next region, which shows significant growth in the given market. It is expected to grow with a CAGR of 2.3% from 2022 to 2026.

  • The Middle East and North America also contribute to the market in question.

Key trends in the food packaging film market

  • In 2022, Georgia-Pacific LLC finalized an acquisition agreement with Bakelite Synthetics. This will diversify the company’s vertical market and help the organization collaborate with allied businesses.

  • In 2023, Amcor Plc acquired Phoenix Flexibles, Moda and MDK in India, New Zealand and China respectively. Thanks to this strategic move taken by the key player in the global food packaging film market, international expansion has become possible. As a result, the consumer base of the said company has increased.

  • In February 2024, Berry Global, Inc. introduced new circular stretch films through innovation. Better charging integrity can be achieved through this development.

Competitive landscape

  • Georgia-Pacific LLC is one of the leading competitors working across different industry verticals. It not only manufactures cellulosic products but also offers packaging services and related products.

  • Berry Global, Inc. manufactures many plastic products including bins, jars, bottles, plastic bags, etc.

  • Finally, Amcor Plc operates in different markets including food and beverage, pet care, healthcare, etc.

Key players

  • Amcor Plc

  • Berry Global Inc.

  • Georgia-Pacific LLC

  • Hindalco Industries Limited

  • Huhtamaki Oyj

  • Mitsubishi Chemical Holdings Limited

  • Mondi Group

  • Pactiv LLC

  • Thong Guan Industries Berhad

  • Tonic Company RUSAL Plc

  • Specialized polyfilms

  • Guangdong Xintianli Holdings Co. Ltd.

  • Nan Ya packaging film

  • Dupont Teijin Films

  • KM packaging

  • Cosmo Films Limited

  • Boreal

  • Indevco Plastics

  • baskets

  • Sirane Group

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Market segmentation

type of material

Final user

  • Food preparation

  • Bakery & Confectionery

  • Meat and seafood

  • Dairy product

  • Others

  • Food service

  • Retail

Region

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East and Africa

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