Packaging Film Market Size (2024 - 2029)

Packaging Film Market Analysis

The packaging film market is expected to witness a CAGR of 6% over the forecast period. The disposable income of consumers, urbanization and the demand for packaged food are the factors attributed to the growth of the market in emerging countries.

• The growing e-commerce market and surge in demand for consumer goods and health products are driving demand for packaging films. Further, the rise in food delivery services due to maintaining hygiene and increasing investment in food delivery sectors post-pandemic are essential factors supporting the market's growth.
• Furthermore, the rising demand from the retail sector for the extended shelf life of packaged products and the consumers' demand for convenience products are augmenting the sales of packaging films in the retail industry.
• The rapidly growing usage of films in food packaging is significantly contributing to the growth of the packaging film market. This can be attributed to the increasing trend of down-gauging, which has supported the shift from rigid to flexible packaging. A strong focus on extending product shelf life and reducing packaging material waste, combined with a growing preference for packaged fresh foods such as fruits, meat, vegetables, and seafood, have increased demand for packaging films.
• However, the volatility of raw material prices, the ongoing drive for sustainability which includes replacing plastic-based packaging products with biodegradable materials, and mandates of using PCR (post-consumer recycled) plastics in response to growing environmental concerns are some of the major factors hampering the market growth.
• The COVID-19 pandemic has led to a significant increase in the demand for film packaging. The market experienced a marked increase in need through the rise in online shopping and food takeaway, which has led to an upsurge in the amount of packaging film usage. At the same time, the accelerated shift towards e-commerce resulted in a permanent plateau in production. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.

Packaging Film Industry Segmentation

Plastic film is a continuous sheet of thin polymer material. "Sheet" is a common term for thicker plastic material. These delicate plastic membranes are employed as barriers, to retain objects, to divide spaces or volumes, and as printable surfaces.

The study presents the current status and prospects of the packaging film market. The market tracks the key parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The market size reflects the value of packaging film consumption across studied applications and is computed in real terms (USD million). The impact of COVID-19 is also considered for current market estimation and future growth projections.

The Packaging Film Market is Segmented by Type of Material (Polyethylene, Polypropylene, Polyester, PVC), Application (Food and Beverage Packaging, Medical and Pharmaceutical Packaging, Consumer Products Packaging, Industrial Packaging), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.