Global cling films market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Rising Preference for Packaged Food to Bolster Cling Films Market Growth
Rising demand for convenience and packaged food products continue to influence the growth of the cling films market. As a result, ready-to-eat food products are gaining high traction backed by fast-paced lifestyles of individuals. Cling films play a crucial role in protecting and preserving the quality and flavour of the ready-to-eat food from external contaminants. They also maintain the internal moisture at optimum level without altering the texture. That said, the growing food industry coupled with increasing preference for packaged ready-to-eat food and functional benefits of cling films is expected to drive their adoption in the food industry. This factor remains instrumental in driving the growth of the cling films market on the global front.
Development of Compostable Films for Packaging Fresh Food Products to Augur Well for Cling Films Market
Growing food industry has revolutionized the way food products are wrapped with the introduction of cling films. Cling films isolate the food products thus maintaining the integrity of their flavours as well as texture. Moreover, they also protect consumers and food especially with growing food allergies and cross contamination. However, conventional cling films are not recyclable, partly due to negligence and mainly due to restraints within the recycling or collection systems. This can have an adverse effect on the environment as well as human beings. Considering the repercussions of this scenario, companies in global cling films market have been mulling upon developing eco-friendly cling films that can offer sustainability. In wake of this, companies have invested in research and development such products that can be recycled and reused without any problems. For instance, in 2020, BASF in partnership with Fabbri Group introduced a sustainable solution for cling films that are used in the packaging of fresh food products. This was accomplished using BASF’s “ecovio” and Fabrri Group’s stretch film expertise to develop Nature Fresh, a highly transparent compostable cling film.
Similarly, in 2022 KM Packaging introduced C-Cling, a cling film that is easily compostable at home and has varied applications especially in retail and catering. C-Cling is a sticky, clear and stretchy cling film that provides improved performance as the conventional cling film. The product is also flexible in terms of nature and material and can be used to protect and preserve the taste and quality of food products in normal environmental conditions. In this backdrop, rising innovations in the development of compostable cling films is expected to open new avenues for the cling films market in the forthcoming years.
PVC Films to Gain Significant Traction in Global Cling Films Market
The demand for cling films manufactured using polyvinyl chloride (PVC) material is gaining high traction and is expected to witness momentous growth in the years to follow. PVC cling films are largely used in food packaging owing to their superior food protection ability. In addition, a PVC cling film forms a self adhesive lap joint with the container without the usage of external bonding solutions such as glue, thus making it a cost effective option. Furthermore, PVC cling films can be used to store food in freezers, fridge or microwave owing to their superior temperature resistance. PVC cling films also have strong fastening properties and excellent tear resistance. They also have good tensile properties and can offer high transparency and add to the beauty of the packaging. Other structural benefits such as good resilience, longitudinal elongation and unitization have fuelled its adoption in the packaging of fresh food, thus contributing towards the value growth of the cling films market.
Asia Pacific Holds the Promise to Unlock Lucrative Opportunities for Cling Films Market
Emerging economies in Asia Pacific region are poised to showcase high growth potential for the cling films market. This is mainly owing to increasing adoption of cling films in end use applications such as packaging of food products, consumer goods and healthcare products across economies such as China, Japan, and India. To complement this further, the rapid growth in the healthcare sector across China and India is expected to boost the growth of the cling films market in the region. Furthermore, increasing investments by authorities in the pharmaceutical sector is expected to boost the production of drugs and other pharmaceutical products. For instance, according to the India Brand Equity Foundation (IBEF), in June 2021, the Indian Government announced an additional budget of around US$ 26,578 million (INR 197,000 crores). For over 5 years, this additional outlay would be utilized for pharmaceutical PLI scheme across 13 crucial sectors including active pharmaceutical ingredients, key starting materials, and drug intermediaries.
Furthermore, the Foreign Direct Investment inflows in Indian pharmaceutical and drugs industry touched a valuation of US$ 19.9 billion in 2022. This aspect is expected to fuel the manufacturing and distribution of drugs in the country, in turn increasing the demand for efficient pharmaceutical packaging, thus providing an impetus to the cling films market. Moreover, rapidly evolving food and beverage industry in the region has contributed towards the growth of the cling films market and is expected to further provide an upswing in the coming years. In addition, stable growth in the GDP per capita coupled with rising population across Asian countries is expected to bolster the demand for these films, consequently aiding the growth of the cling films market. Overall, an optimistic scenario prevails in the Asia Pacific region and companies in the cling films market can expect potential opportunities going forward.
Cling Films Market: Competitive Landscape
A few of the major players in the cling films market include Berry Global Inc., 3M, Jindal Poly Films Limited, Amcor Plc, Inteplast Group, Sigma Plastics Group, Mitsubishi Chemical Corporation, and Anchor Packaging Inc.
The Global Cling Films Market is Segmented as Below:
By End User Industry
Key Elements Included In The Study: Global Cling Films Market
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