Food Wrap Films Market to Reach US$ 12.0 Bn by the end of 2026: TMR Study

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Dec 05, 2022, 06:15 ET

Rising demand for short-term food preservation has propelled the demand for food packaging film rolls.
Most confectionery items such as chocolates and meat products are packaged in food packaging films. The demand for these products will automatically augment growth of this market.
Based on material type, aluminum segment emerged dominant in 2021.

WILMINGTON, Del., Dec. 5, 2022 /PRNewswire/ -- The Global Food Wrap Films Market is projected to rise at a CAGR of 2.0% during the forecast period, 2022 to 2026. The increasing popularity of cost-efficient, lightweight, and easy-to-use food grade wrapping film in comparison to traditional and more expensive packaging items is projected to aid in expansion of this market during the forecast period.

As per the report on Food Wrap Films Market, the outbreaks of COVID19 pandemic had a tolerable impact on the market. This is because the food sector was at the peak of the demand and supply chain while other industries remained under stringent lockdown impositions. However, initial barriers in the form of disruptions in supply and demand chain posed certain challenges in terms of raw material supply. However, the expansion of production facilities for covering the incurred losses during pandemic times is projected to aid in expansion of the global Food Wrap Films Market in the coming years.

The global Food Wrap Films Market size is expected to increase from US$ 10.8 Bn, generated in 2021, to reach a value of US$ 12.0 Bn by the end of 2026.

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Key Findings of Study -

Increasing Demand for Food Packaging Solutions Will Boost Growth: Flexible packaging films for packaged foods help in the preservation of flavors, and quality of food reliability, flavors, and others. Various products today require resistant packaging solutions to protect them from external atmospheric conditions. Food wrap films with multiple layers protect products from being damaged. Such features will help boost the overall growth of this market in the forecast period.

Key Drivers -

The expansion of the food service industry creates lucrative opportunities for packaged food manufacturers. Food product protection is a top priority for key players in the food service industry. The Food Wrap Films Market is expanding as the food service industry expands. Food wrap films are used as efficient packaging solutions in the food service industry. As a result, rapidly growing food service sector is projected to boost the demand for food wrapping cling film in the coming years.
The increased demand for on-the-go food is a major driver augmenting the market for food packaging film roll. Food products necessitate wrapping to keep the temperature stable. Busy schedules of people and the unwillingness to prepare food has further boosted the demand for ready-to-eat and packaged food products. This is necessary so that the packaged food can be devoured as per the convenience of the consumer, regardless of the date it was prepared. Food wrap film also offers protection against odor, oxygen, and moisture, thereby extending the shelf life of food products. Such factors are projected to aid in expansion of the global food wraps films market in the forecast period.

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Regional Growth Dynamics -

Europe is expected to emerge dominant for the market for food wrap transparent film by 2026 on account of the presence of major players. The rising popularity of bakery and confectionery food items and the worldwide inclination towards international confectioneries will further help this region continue dominate the market in the forecast period.
Besides this, Asia Pacific is also projected to rise significantly at a healthy CAGR by 2026, on account of the presence of raw materials at cost efficient prices, cost efficient labor, and presence of latest production technology.

Key Players -

Some of the key food wraps films market manufacturers include

Korpak, Sirane Group,
Cosmo First Limited,
Nan Ya Wrap Film,
Thong Guan Industries Berhad,
Mitsubishi Chemical Holdings Limited,
Georgia-Pacific LLC,
Berry Global Inc.,
Borealis,
Dupont Teijin Films,
Specialty Polyfilms,
Tonesed RUSAL Plc.,
Indevco Plastics,
KM Packaging, and others

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Food Wrap Films Market Segmentation -

Material Type

Aluminum
Plastic

Polyethylene
Polyamide
Polypropylene
PVC
PVDC
Others (EVOH, Bioplastic, etc.)

End-User

Food Processing

Bakery & Confectionery
Meat & Seafood
Dairy Product
Others

Food Service
Retail

Regions

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Countries

U.S.
Canada
Germany
U.K.
France
Spain
Italy
Russia & CIS
China
India
Japan
ASEAN
Brazil
Mexico
GCC
South Africa

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