LONDON--(BUSINESS WIRE)--The global PVDC food packaging market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growth of global plastic films market. Plastic packaging films such as PVDC, EVOH, and BOPP are commonly used in food packaging solutions. These flexible plastic packaging films are used as shrink films or stretch films for wrapping processed food items, meat, fruits, and vegetables. When compared with other types of packaging solutions, plastic films packaging solutions help manufacturers and retailers in reducing the overall cost of transportation and warehousing.
This market research report on the global PVDC food packaging market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rise in demand for biodegradable and sustainable packaging films as one of the key emerging trends in the global PVDC food packaging market:
Global PVDC food packaging market: Rise in demand for biodegradable and sustainable packaging films
PVDC is a form of plastic which leads to landfills and causes pollution. Hence, to overcome this challenge, biodegradable alternatives are being increasingly used as raw materials. For example, polyhydroxy butyrate valerate (PHBV) is one of the bio-degradable packaging films, which is a bacterially grown polyester with similar properties of PVDC. Starch, polylactic acid (PLA), polyhydroxyalkanoates (PHAs), and cellulose are also the components of PBHV films.
“Biodegradable packaging films such as PHBV provide high mechanical performance during their lifetime as original PVDC films and are completely bio-degradable after the end-of-life. The development of biodegradable and sustainable films is posing a challenge to the vendors operating in the global PVDC food packaging market,” says a senior analyst at Technavio for research on packaging.
Global PVDC food packaging market: Segmentation analysis
This market research report segments the global PVDC food packaging market by end-user (dairy; and meat, poultry, and seafood) and geographical regions (APAC, EMEA, and the Americas).
The dairy segment held the largest market share in 2018, accounting for over 34% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 38%. This region is expected to dominate the market through 2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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