Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Food Packaging Films Market size is expected to reach $75.4 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
The Rigid Packaging Films market is experiencing a CAGR of 7.4% during (2022 - 2028). The rising growth of the segment is majorly owing to the high stiffness of this type of film. Rigid packaging films are being highly demanded across the world because they prevent the food from any damage caused during transportation. Strong and durable rigid packaging provides products with framework and support and hence, the segment is flourishing.
The Polyethylene market is leading the Global Food Packaging Films Market by Material in 2021; thereby, achieving a market value of $37.8 billion by 2028. These packaging films are one of the varieties of polyethylene that are quite popular with end customers. These films are an excellent option for wrapping products and ensuring high-quality packaging because they have good tear and puncture resistance, high transparency, as well as good heat seal ability.
The Fruits & Vegetables market is exhibiting a CAGR of 6.2% during (2022 - 2028). The growth of the segment is attributed to the increasing demand for fresh fruits and vegetables all over the world. With the growth of the packaged food industry, the demand for packaged fruits and vegetables has also spurred, Food packaging films prevent any contaminants to enter the vegetable or fruit packed.
The Asia Pacific market shows high market share in the Global Food Packaging Films Market by Region in 2021; thereby, achieving a market value of $28.7 billion by 2028. The Europe market would witness a CAGR of 6.2% during (2022 - 2028). Additionally, The North America market would experiencing a CAGR of 5.6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amcor Plc., Berry Global Group, Inc., Sealed Air Corporation, Coveris Management GmbH (Sun Capital Partners, Inc.), Mondi Plc., DuPont de Nemours, Inc., DS Smith Plc., WestRock Company, Graphic Packaging Holding Company and Charter Next Generation.
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