CPP Packaging Films Market sales are expected to reach US$ 8 Bn by 2031: Persistence Market Research
NEW YORK, July 13, 2021 /PRNewswire/ -- Global sales of CPP packaging films are expected to reach US$ 8 Bn by 2031. According to the latest revised report by Persistence Market Research, the market is estimated to register a steady CAGR of more than 4% over the forecast period of 2021-2031.
CPP packaging films enhance the shelf life of products, as they aid in protection from direct or indirect sunlight exposure, chemicals, and dust. Good shelf life increases buyers' confidence in purchasing products.
There are various thicknesses that are being offered for cast polypropylene packaging films, which are capturing consumer attention.CPP packaging films have excellent properties such as good transparency, scratch-proof, and heat-proof, and high demand is being generated because of the appearance of the packaging that is enhanced by high-impact graphics.
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Key Takeaways from Market Study
- Consumption of up to 18 microns CPP packaging films is expected to increase 1.6Xover the decade, attributed to increasing demand for see-through packaging formats that ensure high clarity and good seal strength.
- Owing to high impact resistance, CPP packaging films are mostly preferred in bag and pouch formats. This segment is estimated to outbid other segments and hold nearly 1/3 vale share in the global market during the assessment years.
- Content of CPP packaging films is approved by the FDA, and is the first choice of food & beverage industries for packaging their products. This segment is expected to create an incremental opportunity of US$ 1.5 Bn from 2021 to 2031.
- East Asia is expected to lead and create significant growth opportunities for key players, as China is a major market for plastic production in the world, and there is high availability of cost-effective resources in the country. The region is expected to reach over US$ 2.5 Bn valuation by the end of 2031.
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"Consumer inclination toward hygienically packed edible products is expected to amplify market growth. Many food & beverage and healthcare end users are considering CPP packaging films as an ideal solution owing to its numerous benefits. Expansion of these industries in South-East Asia is expected to create exponential profit earning opportunities for these players." says an analyst at Persistence Market Research.
Market Competition
The report underlines groundbreaking insights into the competitive scenario of the CPP packaging films market, along with highlights of differential strategies used by manufacturers.
Some of the key manufacturers identified across the value chain include Polyplex Corporation Ltd, Uflex Ltd, Jindal Poly Films Limited, Copol International Ltd., Bhineka Tatamulya Industri Pt, Mitsui Chemicals America, Inc., LC Packaging International BV, and Futamura Chemical Co. Ltd.
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More Valuable Insights
Persistence Market Research released a new market research on the CPP packaging films market, covering global industry analysis of 2016-2020and forecasts for 2021–2031.
The market study reveals compelling insights on the basis of thickness (up to 18 microns, 18 to 50 microns, 50 to 80 microns, and above 80 microns),packaging (bags & pouches, wraps, lamination, labels, and others), and end use (food & beverages, personal care & cosmetics, textiles, and healthcare),across seven major regions of the world.
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