Transparency Market Research, Inc., Wilmington, Del., USA, October 29, 2024 (Globe Newswire) — Global food wrap film market (Marché des Films Danverage Alimentaire) estimated market valuation of USD 12 billion current market In the case of valuations, the last measured value was in 2021, equivalent to approximately USD 10.8 billion. The market expects progress to be modest at a CAGR of 2.0%.
As far as fundamental market drivers are concerned, the frequent need for foils, wrappers and films is evident from the growing demand for flexible packaging and packaging solutions for the food industry. Therefore, a target market demand is created. Additionally, this element allows food to be transported with improved handling and shelf life. Along with this, demand from consumers is also increasing.
Consumers are demanding more cost-effective and environmentally friendly products to make food more convenient to transport. Aluminum foil is primarily used for these purposes. Apart from this, the weight of the foil is negligible, which proves to be another market driver for the target market.
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In the modern business world, the restaurant industry is emerging. As a result, demand for better food packaging and delivery is increasing. You can use various foils and wrapping film materials to make it more effective. Therefore, this will also be a driving factor for the market.
key player
Amcor PlcBerry Global Inc.Georgia-Pacific LLCHindalco Industries LimitedHuhtamaki OyjMitsubishi Chemical Holdings LimitedMondi GroupPactiv LLCThong Guan Industries BerhadTonesed Company RUSAL PlcSpeciality PolyfilmsGuangdong Xintianli Holdings Co. LtdNan Ya Wrap FilmDupont Reijin FilmsKM PackagingCosmo Films LimitedBorealisIndevco PlasticsKorpakSirane Group
Key findings from the market report
The global food wrap film market operates in limited market segments. In terms of market segments of materials used, it is clear that aluminum is a widely used material. Aluminum foil has a variety of uses. Therefore, this market segment is vast. Apart from this, plastic materials are an important area that is widely used in this market segment. Polyethylene film carrying bags are widely used in the food industry. From the point of view of the industry that uses food packaging films, the retail sector uses multiple food covering films to cover products from stores. In addition, meat shoppers, which are part of the food industry, use polyethylene film. On a bigger level.
Regional overview
Regarding the market share secured by different continents in the global food wrap film market, Europe is expected to have the largest share. This is due to the availability of labor and low production costs on the continent. Additionally, our high sales base within European countries makes it easy to sell our wrapping films. The next region is Asia Pacific, which is showing significant growth in its target market. It is expected to grow at a CAGR of 2.3% from 2022 to 2026. The Middle East and North America also contribute to the target market.
Key trends in the food wrap film market
In 2022, Georgia-Pacific LLC entered into an acquisition agreement with Bakelite Synthetics. This diversifies business vertical markets and helps organizations collaborate with related companies. In 2023, Amcor Plc acquired Phoenix Flexibles, Moda and MDK from India, New Zealand and China respectively. This strategic move by key players in the global food wrap film market has enabled international expansion. As a result, the consumer base of this business has increased. In February 2024, Berry Global, Inc. introduced a new circular stretch film with innovation. The aforementioned developments allow for better load consistency.
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competitive environment
Georgia-Pacific LLC is one of the main competitors operating in various fields. The company not only manufactures cellulose products, but also provides packaging services and related products. Berry Global, Inc. manufactures many plastic products, including plastic tubs, pots, bottles, bags, and more. Finally, Amcor Plc operates in various markets. , food and beverages, pet care, health care, and more.
Market segmentation
Material type
Polyethylene polyamide polypropylene PVCPVDC Others (EVOH, bioplastics, etc.)
end user
Bread, sweets, meat, seafood, dairy products, etc.
region
North America Latin America Europe Asia Pacific Middle East and Africa
Buy this premium research report: https://www.transparencymarketresearch.com/checkout.php?rep_id=10931 Other trend reports by Transparency Market Research – Plastic Boxes Market – The plastic boxes market is anticipated to grow by USD 6.6 billion and is expected to grow at a CAGR of nearly 6.7% during the forecast period. Sustainable Packaging Market – Global Sustainable Packaging Market Valued at USD 252.4 Billion in 2022, Hygienic Breathable Film Market – Global Hygienic Breathable Film Market (Marché des Films Hygienic Respirators) in 2024 It is estimated to grow at a CAGR of 4.9% from 2032 to 2032. Flexible Plastic Packaging Coatings Market – The global flexible plastic packaging coatings market is estimated to grow at a CAGR of 4.0% from 2024 to 2032. About transparency market research Transparency Market Research is a global market research firm registered in Wilmington, Delaware, USA, providing custom research and consulting services. Our unique combination of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. Our experienced team of analysts, researchers, and consultants uses proprietary data sources and a variety of tools and techniques to gather and analyze information. Our data repository is continually updated and revised by our team of research experts to ensure it always reflects the latest trends and information. With extensive research and analytical capabilities, Transparency Market Research employs rigorous primary and secondary research methodologies in developing unique datasets and research materials for business reports. contact: Transparency Market Research Co., Ltd.
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