Key Market Insights
"Increasing inclination toward flexible packaging will spur the market revenue growth"
The global polypropylene packaging films market accounted for US$ 25.55 Bn in 2021 and is anticipated to grow to US$ 41.05 Bn growing at a CAGR of 6.1% during the forecast period from 2023 to 2030.
Growing inclination towards flexible packaging solutions coupled with the rising food and beverage sector, especially in developing regions are having a positive influence on the demand for polypropylene packaging films market. Polypropylene films offer a combination of benefits including recyclability, optical clarity, ease of conformance, lightweight and low costs among others. The rising environmental concerns globally and increasing awareness among people to use sustainable and recyclable packaging solutions are also contributing to the growth of the polypropylene market. Manufacturers are shifting to produce and are investing heavily to increase the production of polypropylene packaging films in order to meet the growing demand from various end-use industries. Additionally, the flexible packaging industry is growing rapidly as it increases shelf life and food safety among others of which polypropylene packaging films are a segment.
Polypropylene packaging films are one of the key components for sustainable packaging solutions. Consumers’ penchant for sustainable, and recyclable solutions along with the strength and durability of polypropylene packaging films is proliferating the demand of the market.
Product Type Analysis
"BOPP films segment to dominate the market throughout the forecast period"
Based on product type, the polypropylene packaging film market is further classified into BOPP and CPP. BOPP films segment leads the polypropylene films market and accounts for a market share of more than 60% globally. This is due to its moisture-resistant abilities and barrier properties along with increasing research and development activities for BOPP material. Thus bolstering the demand for the global polypropylene packaging films market.
In contrast, the CPP segment is anticipated to observe the highest growth during the forecast period. This most common application of these films are for packaging and lamination owing to its moderate elasticity, machine suitability, moisture-proof properties, and heat sealability among others.
End-use Analysis
"Food & Beverage segment expected to dominate the market during the forecast period"
Based on application, the global polypropylene packaging films market is bifurcated into food & beverages, personal care & cosmetics, electric & electronics, industrial, pharmaceutical & medical, tobacco, and others. The food & beverage segment accounted for the largest market share and held XX% of the market. This can be associated with the inertness, high chemical resistance, low manufacturing costs, and low odor properties approved by the FDA.
Additionally, the pharmaceutical & medical segment also holds a major share of the polypropylene packaging films market owing to its properties such as high heat resistance, tear resistance, moisture-proof, and high puncture & tear resistance among others.
Regional Analysis
"Asia Pacific region dominated the global polypropylene packaging films market"
Asia Pacific region dominates the global polypropylene packaging films market and represents US$ XX Bn in terms of market share and is expected to expand with a CAGR of XX% during the forecast period. This can be attributed to the profound growth of the regional industrial ecosystem such as pharmaceutical & medical, and food & beverage among others. The booming tobacco sector in South Asia region is also having a significant impact on the growth of the market. Additionally, the rising urbanization, changing lifestyle of the consumers such as on-the-go food, and preference for sustainable products in the region are further bolstering the market growth in the region.
On the contrary, the Asia Pacific region is followed by Europe. The European region accounted for a share of more than 22% of the global market. This can be associated with the increasing regulatory norms in the region to develop sustainable packaging solutions and growing consumer awareness regarding environmental health among others.
List of Companies Covered:
Key Industry Developments
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Polypropylene Packaging Films market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
| Segmentation | |
Product Type
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Film Type
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Application
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End-use
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Region Segment (2022-2032; US$ Billion)
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Key questions answered in this report
