The study projects the market to grow at a CAGR of 7% between 2022 and 2031
FREMONT, Calif., Sept. 13, 2022 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Sustainable Films for Packaging Market - A Global and Regional Analysis.
According to this study, the market size of the global sustainable films for packaging market was $140 billion in 2021 and is projected to reach $276.2 billion by 2031.
The following factors are responsible for the increase in demand for sustainable films for packaging:
- Growing government and industrial initiatives to reduce plastic waste
- Increasing demand for mono-material plastic packaging
The detailed study is a compilation of 142 market data tables and 9 figures spread through 196 pages.
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Analyst's Take on the Market Projection
According to Pooja Tanna, Lead Analyst, BIS Research, "Sustainable films for packaging are expected to be the best option for reducing plastic waste. With the increasing focus on circular economy and the rising government regulations to reduce single-use plastics, the growth in the sustainable films for packaging market is expected to be robust during the coming years."
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Existing Competitive Landscape
The companies that are profiled have been selected based on primary research inputs gathered from a network of industry experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this market are:
- Amcor plc
- Rani Group
- Innovia Films
- Mondi
- Berry Global Inc.
- UFlex Limited
- TORAY ADVANCED FILM CO., LTD.
- Pregis LLC
- Constantia Flexibles
- Sealed Air
- Transcontinental Inc.
- ProAmpac
- DUNMORE
- Bleher Folientechnik GmbH
- ePac Holdings, LLC.
- Cosmo Films
Recent Developments in the Global Sustainable Films for Packaging Market
- In April 2022, ProAmpac announced the launch of its latest ProActive Recyclable R-2000S, which is made up of recyclable polyethylene material.
- In February 2022, Sealed Air increased its recyclable barrier display film portfolio to improve recyclability across European food supply chains.
- In November 2021, Rani Plast made significant additional investments to boost production capacity for recycled packaging film.
Food and Beverage to Dominate the Application Segment
Sustainable packaging is being adopted by various end-use industries such as food and beverage, pharmaceutical, consumer electronics, personal care, and consumer goods. The food and beverage industry is the largest consumer of single-use plastic packaging globally and also a significant producer of plastic waste. Hence, the food and beverage industry bears the onus of being at the forefront of the drive toward sustainability.
According to the latest study by BIS Research, among different sustainable films used for packaging in end-use applications, the food and beverage segment is expected to be the largest application during the forecast period 2022-2031.
The growing demand for packed food and beverage from various countries has propelled the industry stakeholders to opt for more sustainable options while also keeping the quality at its best.
Why Should You Buy The Report?
This exclusive report on the global sustainable films for packaging market will help in the following ways:
- Market ranking analysis based on product portfolio, recent developments, and regional spread
- Start-up and investment landscape, including product adoption scenario and funding
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https://bisresearch.com/requestsample?id=1360&type=download
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Global Polyethylene Furanoate Market
Global Polylactic Acid (PLA) Market for 3D Printing
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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