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NEW YORK , Feb. 15, 2022 /PRNewswire/ -- The global packaging films market is expected to reach a market size of USD 164.11 Billion by 2028 and register a high CAGR during the forecast period, according to a latest report by Reports and Data. Rapid growth of the packaging films can be attributed to the rising demand for flexible packaging. The food and beverage product manufacturers are increasingly adopting flexible films based on polyethylene as they have distinct barrier properties that help with better protection or longer shelf life. The manufacturers are increasingly investing for the production of enhanced flexible packaging films that prioritize durability and resistance to tearing, food safety and freshness, safe distribution and storage, and protection from environmental elements like light, moisture, temperature, and gas.
The flexible packaging films helps in maximizing the shelf life of perishable items and conceal the smells of the contents in packaging. The elimination of the cost of labeling or capping with the utilization of flexible packaging films is expected to drive the market growth during the forecast period. Companies like UFlex are investing in the domestic and international expansion for packaging films business. The companies are also investing in the collaboration and mergers and acquisition, such as Berry plastics acquired AEP Industries Inc., which is contributing to the growth of the global packaging films markets.
Rising demand for antimicrobial and antioxidant active food packaging is expected to support the advancement of packaging films market during the forecast period. The packaging films manufacturers are investing in the development of new antimicrobial and antioxidant active food packaging in order to reduce the oxygen content inside packaging and prevent microbial growth.
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Further key findings in the report suggest
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To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/packaging-films-market
For the purpose of this report, Reports and Data has segmented the global packaging films on the basis of packaging materials, application, and region:
a. U.S. b. Canada c. Mexico
a. Germany b. UK c. France d. Italy e. Spain f. Sweden g. BENELUX h. Rest of Europe
a. China b. India c. Japan d. South Korea e. Rest of APAC
a. Brazil b. Rest of LATAM
a. Saudi Arabia b. UAE c. South Africa d. Israel e. Rest of MEA
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