Global Packaging Films Market Expected to Reach US$ 223.5 billion by 2033: Growing Emphasis on Sustainable Packaging and E

Over the course of the forecast period, the packaging films market is anticipated to expand significantly due to the rising need for flexible packaging solutions across numerous sectors. With a predicted CAGR of 3.9% from US$ 143.7 billion in 2022 to US$ 209.7 billion in 2032, the market for packaging films is anticipated to reach US$ 209.7 billion by that year.

The factors linked to the market expansion in emerging nations include urbanisation, consumer disposable income, and the desire for packaged foods.

Customers are becoming increasingly interested in goods with natural components and environmentally friendly packaging. Edible packaging, which ensures the optimum use of natural resources for packaging, is one of the trendiest trends in the food industry. Edible packaging is available in both rigid and flexible configurations, such as edible packaging films. Many companies are creating simple edible packaging films that are easy to digest, created from food ingredients, and are safe for humans and other animals.

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For instance, casein-based food wraps have been developed by the Agricultural Research Services (ARS) of the United States Department of Agriculture. These packing sheets and wraps are highly nutritious because they include milk protein. These packaging films are therefore edible and help reduce waste.

The packaging of foods like vegetables, fruits, fish, meat, poultry, and more may now be done using edible packaging sheets developed by a multinational team of scientists from Russia and India. Because they are made of natural materials, these packaging films completely dissolve in water and are safe for both human health and the environment.

According to FMI's predictions based on the aforementioned factors, edible packaging films and wraps will provide the packaging industry a new dimension and establish a new standard in the food market.

Key Takeaways from Packaging Films Market

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Packaging Films Market Landscape

Berry Global, Mondi Group, Ampac Holdings, LLC., Huhtamaki Oyj., Smurfit Kappa, WestRock Company are some of the Tier 1 players of global packaging films market.

Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. Several mergers & acquisitions and innovations are taking place in the industry as there is synergy in forward as well as backward integration. · Recently in March 2022, Clearlake Capital has agreed to acquire Intertape Polymer Group. Intertape is one of the leading manufacturers of packaging films and many other products. Through this acquisition the company is planning to extend production capabilities of tapes and shrink films and increase industrial and retail customers.

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Packaging Films Market By Category

By Material Type, Packaging Films Market is segmented as:

By Product Type, Packaging Films Market is segmented as:

By End Use Packaging Films Market is segmented as:

By Region, Packaging Films Market is segmented as:

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