- Expansion of production capacity to meet demand is expected to drive the demand of easy peel film packaging.
- The manufacturing cost is relatively high, resulting into low profitability margins for packaging film suppliers.
- North America and Europe are expected to collectively dominate the market.
The revenue form the packaging industry sales globally is expected to continue to show strong growth as both increased consumption and demand for consumer goods and food has driven the needs for more sophisticated packaging, such as easy peel film packaging, supported by growing middle class and rising disposable income. Packaging film and even packaging product manufacturers are offering products with additional focus given to the convenience aspect for consumers, ultimately creating profitable market opportunities for companies providing easy peel film packaging. Easy peel film packaging has been one of the most innovative product offering from packaging companies, vastly benefitting the food and beverage industry in a very short span of time.
Moreover, easy peel film packaging allows the customer to handle the product safely and with ease and also ensure consumers that the packaging can be separated from the product without leaving any residue and that it can be fully emptied, minimizing the wastage of the content. Easy peel film packaging is also moisture resistant, enhances product quality and also benefits both consumers with convenience and aids manufacturers in relation to its sustainable, and easy disposal nature. In addition, easy peel film packaging is also an economical solution for manufacturers, as it reduces the shipping and logistics cost during transportation, ultimately maximizing the profitability margin of suppliers.
Growth in demand for easy peel film packaging is anticipated to remain steady for various reasons. Firstly, the food & beverage industry is constantly striving to offer its products that not only make the packaging attractive but also offers convenience. Secondly, rising investment in product innovation, among packaging film and machinery manufacturers, expansion of production capacity to meet the demand is expected to drive the demand of easy peel film packaging throughout the forecast period.
The trend of replacing conventional rigid plastic film with easy peel film packaging has been rather safe and economical option for packaging manufacturers, as they consume relatively less space during inventory and transportation. Moreover, offering customized easy peel films with dimensions and printing options as per the customer requirement is the new trend observed in the global easy peel film packaging market. Easy peel film packaging can be used for various types of plastic containers and cups and leaves no residue behind. The packaging form is non-sticky and perform well with all sorts of temperature. Despite growth opportunities, the manufacturing cost of such packaging is relatively high, resulting into low profitability margins for packaging film suppliers.
The global easy peel film packaging market is segmented on the basis of application, material, packaging and region. On the basis of application, the global easy peel film packaging market is segmented into food & beverage, medical application segment, industrial application segment and other consumer products segment. The food and beverage segment is further sub-segmented into seafood products, frozen food, dairy products, bakery & confectionary, microwaveable food products, and beverages. The medical application segment is further sub-segmented as syringes, catheter packaging film and infusion bags. Further the industrial application segment is sub-segmented into toner containers, ink cartridges and other industrial products.
The consumer products is further segmented into air fresheners, deodorizers, washing detergents, wet wipes and other consumer products. Demand of easy peel film packaging from food application segment is anticipated to offer lucrative opportunities to the global easy peel film packaging market in terms of growth prospects. Moreover, on the basis of material type, the global easy peel film packaging market is segmented into linear low density polyethylene (LDPE), high density polyethylene (HDPE), polyethylene terephthalate (PET) and others. On the basis of packaging type, the global easy peel film packaging is segmented into cups, trays, pouches and other containers.
Easy peel film packaging market has been segmented on the basis of region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Among these region, North America and Europe are expected to collectively dominate the market throughout the forecast period. However, many packaging film suppliers and converter companies are investing in Asia Pacific to tap the growing unmet demand and potential, easy peel film packaging offers to packaging film manufacturers in the region. Furthermore, Asia Pacific is anticipated to witness maximum CAGR over the forecast period primarily driven by China, Japan and India. Latin America and Middle East & Africa are expected to witness sluggish growth and over the forecast period. In Latin America, Brazil and Mexico are expected to create maximum incremental opportunities in terms of revenue for companies involved in easy peel film packaging.
Some of the key players in the global easy peel film packaging market are J-Film Corporation, Evonik Industries, Mitsui Chemicals, Bemis Company Inc., Shrinath Rotopack Pvt Ltd, Tilak Polypack Pvt Ltd. A majority of easy peel packaging companies are largely headquartered in Europe and North America. However, China and India based packaging film manufacturers are looking to grab most of the opportunity offered in terms of revenue from the global easy peel film packaging market.