Global Cast Polypropylene Packaging Films Market to Reach Over US$ 7.12 Bn by 20

Posted by Priyanka Thakare on May 16th, 2019

The global cast polypropylene packaging films market was valued at approximately US$ 4.42 Bn in 2017 and is projected to register a CAGR of 4.1% from 2018 to 2028, according to a new report published by Transparency Market Research (TMR) titled ‘Cast Polypropylene Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.’ The report suggests that growth of food & beverages packaging and pharmaceutical packaging industries is likely to augment the demand for cast polypropylene packaging films from 2018 to 2028. As key players are introducing their new CPP packaging films in developed markets such as North America and Western Europe, these regions are likely to account for a major share of the global cast polypropylene packaging films market during the forecast period. Increased disposable income and changing lifestyle of people in emerging markets such as China and India are likely to boost the market in Asia Pacific from 2018 to 2028.

Rising consumption of convenience food and enhanced packaging solutions to drive global market

Owing to the sedentary lifestyle in developing economies such as China and India, preference for convenience food has been increasing in these countries. Bakery products and ready-to-eat foods and beverages are being consumed in large quantities. This, is turn, is driving the demand for cast polypropylene packaging films in these countries. Properties of cast polypropylene packaging films such as high moisture barrier, cost effectiveness, and versatility are ideal for packaging of convenience food as well as packed food in retail stores. Cast polypropylene packaging films have excellent machinability, which makes them a perfect choice for use in freezer bags and microwaveable packaging solutions.

Bags & pouches segment to gain market share

The report offers detailed segmentation of the global cast polypropylene packaging films market. The market has been segmented based on thickness, packaging type, and end-use. Among thicknesses, the up to 18 micron segment is poised to account for a leading share of the global market from 2018 to 2026. Among packaging types, the bags & pouches segment held a major market share in 2017, owing to high demand for enhanced packaging solutions manufacturers of food & beverages. Factors such as high flexibility, cost effectiveness, compactness, and durability of pouches and bags made of cast polypropylene packaging films make them suitable for use in various packaging applications. Also, these bags and pouches offer comprehensive protection in all relevant environments including storage, shipping, and retail. They also ensure quality in terms of fragrance and flavor.

Health care be a highly promising end-use segment

Among end-uses, the health care segment is projected to hold a dominant share of the global cast polypropylene packaging films market during the forecast period. Significant growth potential of the health care sector and advancements in medical device and equipment packaging provide new growth opportunities to players operating in the cast polypropylene packaging market. Manufacturers of food and beverages always look for different properties in a single packaging material to safeguard their products and diminish chances of any loss. Cast polypropylene packaging films has been a preferred choice of these manufacturers; owing to low density and high yield of polymers, high moisture barrier property, uniform thickness compared to conventional films, better processability, excellent mechanical properties, and excellent puncture resistance of these films. These attributes have raised the demand for cast polypropylene packaging films in the global food & beverages industry.

Asia Pacific market to witness significant growth

In terms of value, Asia Pacific held a leading share of the global cast polypropylene packaging films market in 2017. Rising demand for use in floral packaging and food & beverages packaging in emerging markets such as China and India is fueling the cast polypropylene packaging films market in Asia Pacific. Recovery of economies in Latin America such as Brazil is augmenting the expenditure in food & beverages and health care sectors through rise in the consumption of ready-to-eat food and entry of international drug manufacturers and health care providers into the market in the region. This factor is likely to propel the cast polypropylene packaging films market in Latin America from 2018 to 2028.

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Key players such as Polyplex Corporation Ltd., Uflex Ltd, and American Profol, Inc. to continue to lead the global market

The report also provides profiles of leading players operating in the global cast polypropylene packaging films market such as Jindal Poly Films Limited, Copol International Ltd., PT. Bhineka Tatamulya Industri, Mitsui Chemicals America, Inc., LC Packaging International BV, Futamora Chemical Co. Ltd., Thai Film Industries Public Company Limited, Oben Holding Group S.A.C., Taghleef Industries LLC., and Schur Flexibles Holding GesmbH. Expansion of the portfolio of cast polypropylene packaging films through improvement in existing products and development of new products with enhanced features is one of the key strategies adopted by several key players.