Global Food Wrap Films Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 2.3% during the forecast period.
Food wrap films are used to wrap food products to protect them from contamination, keep food fresh and enhance the shelf life of the food. Food wrap films are generally used for short-term preservation of prepared food. Besides, they are also used to package confectioneries like chocolate and to wrap processed food such as meat & sea-food to keep them fresh for an extended period. Furthermore, food wrap films are used to pack ready-to-eat food items.
The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, By Application
Global Food Wrap Films Market Dynamics:
Rise in demand for food-on-the-go has been a major driver for the food wrap film industry. Food packaging requires wrapping to maintain the temperature. The barrier properties of the aluminum and high barrier plastics such as EVOH and polyamide isolate the food products from the environmental factors such as moisture, odor and atmospheric gases.
The fast-paced life of people in developing and developed countries require better packaging of food items so that food can be consumed anytime irrespective of the time the food was prepared. The barrier properties of food wrap films against oxygen, moisture, and odor help it to provide higher shelf life to the food products.
The food wrap films are the environmental concerns associated with the harmful effects of conventional plastic materials which are not biodegradable and is a potential threat to the environment. The toxic effect associated with plasticizers in PVC based food wrap films is hazardous for an individual. LDPE based food wrap films may contain harmful chemicals such as diethylhexyl adipate (DEHA). The direct contact of food with aluminum-based food wrap films might cause memory loss, dementia and other adverse effects on the health of the consumer. These factors decrease the demand for food wrap films in the market.
Global Food Wrap Films Market Trends:
Major manufacturers are focus on production of various food wrap products, due to changing consumer preference towards healthy and hygienic food and beverages products. Established players in the global food wrap films market are collaborating with other local players, in order to enhance their product offering as well are expand their geographical footprint. These are the trend observed in the market, currently.
Global Food Wrap Films Market Segment Analysis:
Global Food Wrap Films Market, by Material Type:
Global Food Wrap Films Market
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The aluminum segment is dominating the global market for food wrap films, over 70% market share in 2019. This is mainly due to the fact that any food when made can be kept in that same hot condition if it is wrapped using aluminum. While plastic and paper food wrap films hold second and third positions in the market, respectively. Moreover, plastic food wrap films are projected to take over a major market share of the aluminum segment and will show the fastest CAGR over the forecast period. Paper films will continue with their marginal market share over the forecast period.
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In terms of end use types, food service has the highest market share and will continue to dominate this segment in the forecast period. This is mainly due to the fact that working class tends to eat more of fast food and ready-to-eat food especially during their working hours. This helps them in saving time over making any healthy food dish for their lunch.
Global Food Wrap Films Market, by Region:
Regional Insights
North America is expected to dominate the global food wrap films market, due to increasing demand for ready-to-go food and beverages products in countries in the region. The market in Asia Pacific is expected to be an emerging market for the global food wrap films market, and is expected to register highest CAGR in during the forecasted period. This is attributed to increasing consumer health concerns coupled with rising disposable income in the region. Moreover, the markets in Europe, Latin America and Middle East & Africa are expected to register moderate growth revenue over the forecast period.
Global Food Wrap Films Market Scope: Inquire before buying
Global Food Wrap Films Market Key Players:
• Amcor
• Berry
• Mondi Group
• Georgia-Pacific
• Hindalco Industries
• Huhtamaki
• Mitsubishi Chemical Holdings
• Reynolds Group
• Thong Guan Industries
• Rudraksh Packaging
• Riken Technos
• Melitta
• Unnati Group
• Nan Ya Plastics
• Polyvinyl Films
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