A new report by Future Market Insights (FMI) reveals a
booming market for mono-material packaging film. This surge is
driven by a confluence of environmental concerns, stricter
regulations, and a growing consumer appetite for eco-friendly
products. Technological advancements are making these films a
realistic option, while collaboration and a focus on circular
economies are addressing the cost hurdle. This paves the way for a
more sustainable future in packaging.
NEWARK, Del. , April 16,
2024 /PRNewswire/ -- The mono-material
packaging film market is valued at US$ 4.17 billion in 2024. Looking ahead to
2034, the market anticipated to soar to US$ 6.26 billion. Forecasted with a promising
4.20% CAGR between 2024 and 2034, the mono-material
packaging film adoption shows promising signs of expansion and
sustainability. The mono-material packaging film industry is
primarily driven by increasing environmental consciousness and
regulatory pressures to reduce plastic waste. Governments worldwide
are implementing stringent regulations to curb plastic pollution,
prompting industries to shift towards sustainable packaging
solutions. Moreover, consumer demand for eco-friendly products is
pushing manufacturers to adopt mono-material films, which are
recyclable and biodegradable.
Download the Sample PDF report to explore key market insights
and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19477
Advancements in packaging technology have led to the development
of mono-material films with enhanced properties, such as improved
barrier performance and shelf-life extension, further driving
market growth. Furthermore, the rise of eCommerce and the need for
lightweight, cost-effective packaging solutions are additional
drivers propelling the growth of the mono-material packaging film
industry.
Despite its promising growth trajectory, the mono-material
packaging film industry faces several challenges and restraints.
One significant barrier is the higher production costs associated
with sustainable packaging materials compared to conventional
plastics. This cost differential often discourages manufacturers
from fully transitioning to mono-material films, especially in
price-sensitive markets. Moreover, limitations in material
availability and processing technologies may constrain the
scalability of mono-material packaging solutions, particularly for
specialized applications requiring specific material properties.
Strategic partnerships and collaborations across the packaging
value chain can facilitate knowledge exchange and foster the
development of novel packaging materials and technologies.
Additionally, the growing emphasis on circular economy principles
and initiatives to promote recycling and waste reduction present
avenues for the expansion of the mono-material packaging film
industry.
Innovation and sustainability are driving the latest trends in
the mono-material packaging film industry. One notable trend is the
development of mono-material films with advanced functionalities,
such as antimicrobial properties, oxygen scavenging capabilities,
and compostability. These enhanced films cater to diverse packaging
requirements across various industries, including food and
beverage, pharmaceuticals, and personal care. Moreover, there is a
growing focus on smart packaging solutions integrating technologies
such as RFID tags and QR codes for improved traceability and
consumer engagement. Additionally, customization and
personalization are emerging trends, with manufacturers offering
bespoke mono-material films tailored to specific product
requirements and branding preferences, further enhancing market
competitiveness.
"The mono-material packaging film industry presents
numerous opportunities for innovation and growth. With increasing
consumer awareness and demand for sustainable packaging options,
there is a burgeoning market for eco-friendly mono-material films.
Manufacturers have the opportunity to capitalize on this demand by
investing in research and development to enhance the performance
and versatility of mono-material packaging solutions." Says
Ismail Sutaria (Lead
Consultant, Packaging and Materials at Future Market Insights,
Inc.)
Key Takeaways from the Market Study
- The plastic segment is projected to maintain a significant
market share of 40% in 2024.
- The food & beverage segment commands a substantial 35%
market share in 2024.
- The United States exhibits a
steady but moderate CAGR of 3.8% in mono-material packaging film
over the next decade.
- The United Kingdom packaging
film market is anticipated to grow at a rate of 3.4% annually until
2034.
- Japan demonstrates a robust
CAGR of 5.6% in mono-material packaging film adoption through
2034.
- China experiences a noteworthy
CAGR of 5.5% for the adoption of mono-material packaging film.
- India witnesses a remarkable
spike in demand for mono-material packaging film, with a CAGR of
5.8% by 2034.
Competition Outlook of the Mono-material Packaging Film
Market
The competition outlook in the mono-material packaging film
market is characterized by intense rivalry among key players
striving to differentiate their offerings and capture a larger
market share. With sustainability becoming a paramount concern
globally, companies are increasingly focusing on developing
eco-friendly packaging solutions to meet consumer demands and
regulatory requirements. This has led to a surge in innovation,
with manufacturers investing in research and development to enhance
the performance and recyclability of mono-material films.
Additionally, strategic partnerships and collaborations are common
strategies employed by players to expand their product portfolios
and geographical reach, thus intensifying competition further.
As the demand for mono-material packaging films continues to
rise across various industries such as food and beverage,
healthcare, and personal care, market players are also vying to
offer customized solutions tailored to specific application
requirements. This has resulted in a proliferation of specialized
products catering to different packaging needs, further fueling
competition. Moreover, companies are increasingly adopting advanced
manufacturing technologies and process optimization techniques to
improve production efficiency and reduce costs, thereby gaining a
competitive edge in the market. Overall, the mono-material
packaging film market is witnessing fierce competition driven by
the growing emphasis on sustainability and the quest for innovation
among industry players.
Purchase now and gain full access to the
Mono-Material Packaging Films Industry report, featuring
comprehensive Market Forecast, Company Share Analysis, Competition
Intelligence, DROT Analysis, Market Dynamics and Challenges, and
Strategic Growth Initiatives.
Recent Developments:
- Comexi debuts cutting-edge flexo and offset technology at drupa
2024, revealing the F1 Evolution flexo press and an extended CI
offset press that will transform printing possibilities.
- Jindal Films, a leading specialty film manufacturer
headquartered in India, will
launch groundbreaking mono-material barrier film solutions, BICOR
25 and 30 MBH568 films, at the CFIA tradeshow in Rennes,
France, to assist packaging firms
in complying with upcoming European recycling guidelines.
- LyondellBasell, an established global chemical industry leader
headquartered in the United
States, is thrilled to introduce Luflexen hyPE56PFA, a new
high-density polymer innovation intended for advanced packaging
film and technical film applications.
- Coveris, based in the United
States, has announced the imminent introduction of
recycle-friendly monomaterial packaging solutions, including the
new recyclable thermoforming film, Formpeel P, which will be
displayed at the Compamed event in Düsseldorf, Germany.
- Amcor, a well-known producer of responsible packaging solutions
based in Switzerland, has
announced the debut of the next generation of Medical Laminates
solutions, which will aid in the development of recyclable all-film
packaging within the polyethylene stream.
About the Author:
Ismail Sutaria (Lead Consultant,
Packaging and Materials) has over 8 years of experience in market
research and consulting in the packaging & materials industry.
Ismail's strength lies in identifying key challenges faced by the
client and offering logical and actionable insights to equip the
clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational
consulting assignments. His key skills include competitive
benchmarking, opportunity assessment, macroeconomic analysis, and
business transformation advisory. Ismail is an MBA holder in
Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has
been widely covered in electronic and print media. He is a Speaker
at our upcoming Talk show - Rise of the Intelligent Packaging.
Ismail has been quoted in leading publications, including the
European Pharmaceutical Review and the European Adhesive Tape
Association.
Explore FMI's Extensive Coverage in the Packaging
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& Region - Forecast 2022 – 2032. - Review and Request to
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- Edible Films and Coatings Market by Protein,
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Review and Request to Access the Sample Report.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the
UK, the U.S., and India. FMI's
latest market research reports and industry analysis help
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that drive sustainable growth. A team of expert-led analysts at FMI
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industries to ensure that our clients prepare for the evolving
needs of their consumers.
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