DUBLIN--(BUSINESS WIRE)--The "BOPP Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The BOPP film market was valued at USD 3.99 billion in 2020, and it is expected to reach USD 6.27 billion by 2026, registering a CAGR of 6.5% during the period of 2021-2026.
- Toray Industries Inc.
- Taghleef Industries LLC
- Wenzhou Gettel Plastic Industry Co. Limited
- SRF Limited
- NAN YA Plastics Corporation
- Vacmet India Limited
- Uflex Ltd.
- Polyplex Corporation Ltd.
- Trefan Group
- Oben Holding Group
- Tatrafan SRO
- Jindal Poly Film
- Biofilm SA
- Altopro SA de CV
Key Market Trends
Beverage Vertical to Drive the Market Growth
- Flexible packaging not only plays a crucial role in reducing beverage and product waste but also allows online brands to strengthen their packaging to enhance the e-commerce experience. BOPP film is highly used film in this segment which provides consistent and excellent seal integrity because of narrow gauge spread.
- With increasing dairy product production, BOPP film market is steadily growing. Milk and dairy products require careful storing and protection from oxygen and sunlight. For instance, Danaflex provides a wide variety of BOPP film packaging mostly in transparent and opaque white film for all dairy products which are cost-effective and their protective lacquer protects ink layer from mechanical and heat impact, together with good sliding behavior during filling operations.
- In Dec 2018, Cosmo films launched a new sterilizable conduction sealing film for PP and PE containers which are able to withstand high temperatures during the sterilization process, which is liable to increase the shelf life of products, mostly for dairy products like milk.
- Southeast Asia holds the second-largest market for US dairy exports, and the market was valued at USD 690 million, in 2017 and according to USDEC (US Dairy Export Council), Southeast Asian customers are consciously aware of artificial food ingredients and prefer flexible packaging that significantly preserves the integrity of natural and clean label products. This increases the demand for BOPP films in this region.
North America Account for Significant Market Share
- Many vendors of BOPP films in North America are adjusting their product portfolios to address the increasing requirement for consumer-friendly packaging solutions in the region. BOPP films that provide transparency in product packaging help customers quickly examine the product, fueling the growth of the market in the region.
- Retail outlets are the largest revenue-generating medium for food products in North America. Flexible packaging products, such as BOPP films, emerged as the preferred form of packaging in the region, due to their versatility, custom qualities, efficiency in conserving resources, and sustainability. They also offer consumers a convenient shopping experience, as they are lightweight, thus minimizing the effort required for carrying the products.
- The US Census Bureau announced the advanced estimates of US retail and food services sales in October 2019, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes. It stood at USD 526.5 billion, which was an increase of 0.3% (0.4%)* from the previous month, and 3.1% (0.7%) above October 2018. Such instances indicate that the market is expected to grow over the forecast period.
- The region is also a significant exporter and consumer of meat products. The market is strengthened by increasing meat and pork products across the country's widespread and robust retail chains. The market studied is witnessing several expansions and innovative launches in the region, majorly owing to the surging end-user demands.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Impact of COVID-19 on the Global BOPP Films Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Demand For Packaged Food
5.1.2 Environmental Regulation Paving Way for Flexible Packaging Requirements (over Rigid Packaging Materials)
5.1.3 Steady Rise in Demand from Emerging Regions
5.2 Market Challenges
5.2.1 Poor Utilization and Overcapacity Remains a Concern in a Few Major Markets
5.2.2 Growing Threat from Other Environmentally Friendly Films
6 MARKET SEGMENTATION
6.1 End-User Vertical
6.1.3 Pharmaceutical and Medical
6.1.5 Other End-user Verticals
6.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
6.2.3 Asia Pacific
18.104.22.168 Rest of Asia-Pacific
6.2.4 Latin America
22.214.171.124 Rest of Latin America
6.2.5 Middle-East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/uopoks