Easy Peel Film Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2228
Global Easy Peel Film Packaging Market size is estimated to grow at a healthy CAGR in the forecast period. The market will be mainly driven by the unique product advantages over the traditional rigid lidding solutions which includes less space requirement for inventory storage, moisture-resistance, anti-fog properties, higher clarity for finest retail presentation, etc.
Positive growth indicators in the food & beverage industry primarily in the Asia Pacific which is attributed to rapid population pace along with rising concerns to promote sustainability in the environment is likely to make noteworthy contribution to easy peel film packaging market size in the coming years. The product has been chiefly designed for container & tray packaging and is an excellent alternative to clamshell food containers and plastic rigid lids. Product offers compatibility with containers which are made of HDPE, PP, PET, PVC and PS. These films act as a safety seal packaging that are detached from the product without leaving residues. Product also offer reliable re-closability which delivers easy functionality than sliders and zippers. Moreover, it leads to less carbon footprint during transportation compared to traditional rigid lid, offering benefits concerning sustainability and disposal, as well as energy and logistics.
Rising R&D investment for product development, mainly in the packaging industry to meet the rising demand is anticipated to propel easy peel film packaging market size in the coming years. Furthermore, persistent need to replace conventional rigid plastic lid owing to economical cost effective and environment friendly nature will further augment easy peel film packaging market size over the projected timeframe.
Based on the product, the easy peel film packaging market is classified into stretch film, shrink film, metallized film and others which includes release films and holographic films. Stretch films finds widespread applications across several end-user industries including food & beverage, industrial and medical to wrap items which are small and needed handy.
The easy peel film packaging market, based on material is segmented into polyethylene (PE), cast polypropylene (CPP), polyethylene terephthalate (PET) and others which includes polyester and laminated material. PE and CPP are likely to gain larger market share owing to its excellent features which includes good dimensional stability, ideal flexibility, upgraded barrier properties, and vivid printability.
Based on the transparency, the easy peel film packaging market is divided into transparent and opaque. Transparent films are usually used in industrial and medical applications where as opaque are majorly used in food & beverage industry. Furthermore, based on application the easy peel film packaging market is segmented into: food & beverage, medical, industrial and others which includes air fresheners, deodorizers, washing detergents, wet wipes, etc.
Among these, food & beverage segment is likely to hold the highest industry share in the near future. The food and beverage applications segment mainly comprise of frozen food, bakery & confectionary, beverage, dairy products, seafood products and microwaveable food products. They seal the freshness of the packed food products, which result in longer shelf life of the packed products. The medical applications consist of syringes, infusion bags and catheter packaging whereas the industrial applications involve ink cartridges, toner containers, etc.
North America contributed a major chunk to the overall easy peel film packaging market size in 2016. Tremendous development in diary, confectionery and medical industries, rising retail business, technological progression in barrier materials will propel easy peel film packaging market size in the region by 2024. Asia Pacific is anticipated to grow at a faster pace with regional food & beverages and medical industry growth by 2024. Moreover, rising safety concerns regarding contamination of packaged food has led to obstinate need for reliable and safe food packaging which present brighter growth aspects for easy peel film packaging market size by 2024.
Significant easy peel film packaging market players are J-Film Corporation, Evonik Industries, Taipak Enterprises Ltd., The Dow Chemical Company, Zhangsu Packaging Material Ltd, Bemis Company Inc., Plastopil Flexible Pakaging Solutions, Mitsui Chemicals, Wonder Packagings, Sudpack Inc., Clear Lam Packaging, Inc., Tilak Polypack Pvt Ltd., Etimex Inc, Sealpac UK, Berry Global Inc., Danafilms Corp., Toray Plastics Inc., DuPont and The Platinum Package Group. The industry players have been implementing vast product development and technological applications to gain competitive edge. For instance, Bemis Company has developed EZ Peel Reseal packaging which eliminates need for labels with printable lidding and provides reclose convenience.
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