Semirigid PET Multilayers Film for Food Package Market is Expected to Grow at 4.10% CAGR

Packaging is continuously changing with technologies, new materials and processes. These changes are due to the need for improved logistics, environmental performance, product quality, productivity and ever-changing consumer preferences. There is also a growing trend towards making semirigid PET multilayers film for food packaging pleasing and attractive for increasing consumer experience on e-commerce platforms. Therefore, the global semirigid PET multilayers film for food package market is estimated to increase rapidly in the near future.

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Data Bridge Market Research analyses that the semirigid PET multilayers film for food package market is expected to reach USD 332,767.32 thousand by 2029 from USD 242,663.74 thousand in 2021, growing substantially CAGR of 4.1% in the forecast period of 2022 to 2029. The semirigid PET multilayers film for food package enhances the physical and mechanical properties of the film, such as heat resistance, punctureand tear. The high adoption of semirigid PET multilayers film for food package is projected to propel the market's growth because it helps prevent interaction with moisture, oxygen, and other gases such as carbon dioxide and limits the effect of UV light and mineral oil.

Increasing demand and awareness for semirigid multilayer films for shelf-life is expected to drive the market's growth rate

The growing consumers' busy lifestyles and the resulting demand for the convenient food packaging is continuously driving the demand for the semirigid PET multilayer films. This is because the semirigid PET multilayer films aid to extend the product life of the food package. The mixture of numerous polymer layers significantly increases the product's shelf-life by controlling the rate of carbon dioxide, moisture transmission and oxygen. People are becoming more conscious and aware about the use of semi rigid PET multilayer film for longer shelf-life of food packaging as their environmental concerns grow. Furthermore, the spread of coronavirus has increased the demand for the packaged food by three folds than normal because consumers look to long shelf-life food products.

Report Scope and Market Segmentation

Segment Analysis:

The semirigid PET multilayers film for food package market is segmented on the basis of type, product type, packaging size, application and distribution channel

• On the basis of type, the global semirigid PET multilayers film for food package market is segmented into two segments, namely transparent/clear and colored.

In 2022, the transparent/clear segment is projected to hold the largest share of type segment in the semirigid PET multilayers film for food package market

The  transparent/clear segment is expected to dominate the global semirigid PET multilayers film for food package market with a 64.30% market share because transparent or clear packages can help address both preferences such as freshness of foods and reduced waste of food. Consumers are better able to measure the freshness of food freshness and quality of food. Thus, they are more likely to purchase the food product if they can see the product through its packaging.

• On the basis  of product type, the global semirigid PET multilayers film for food package market is segmented into seven segments, namely bottles, boxes, jars, pouches, trays, repack, and others.

In 2022, the bottle segment of product type segment is anticipated to dominate the semirigid PET multilayers film for food package market

The bottles segment is expected to dominate the global semirigid PET multilayers film for food package market with a 46.44% market share because of its transportation savings compared to its glass counterparts, unrivaled strength-to-weight ratio, cost reduction, and its track record for reliability and security when packaging food products.

• On the basis of packaging size, the global semirigid PET multilayers film for food package market is segmented into six segments, namely less than 100 grams, 101-200 grams, 201-300 grams, 301-500 grams, 500-1000 grams, and more than 1000 grams. In 2022, the less than 100 grams segment is expected to dominate the global semirigid PET multilayers film for food package market with a 24.72% market share.
• On the basis of application, the global semirigid PET multilayers film for food package market is segmented into three segments, namely food and beverages, dietary supplements, and sports and energy drinks. In 2022, the food and beverages segment is expected to dominate the global semirigid PET multilayers film for food package market with a 52.28% market share because semirigid PET multilayers film packaging protects the food from external factors, such as water vapor, oxygen, or even light, so that the food product can be safely consumed.
• On the basis of distribution channel, the global semirigid PET multilayers film for food package market is segmented into two segments, direct and indirect. In 2022, the direct segment is expected to dominate the global semirigid PET multilayers film for food package market with a 54.18% market share

Major Players

Data Bridge Market Research recognizes the following companies as the major semirigid PET multilayers film for food package market players in semirigid PET multilayers film for food package market Sealed Air (U.S.), Wihuri Group (Finland), Evertis (Portugal), LivingJumbo Industry S.A. (Romania), Amcor plc (Australia)

Market Development

• In May 2022, TekniPlex Consumer Products announced the introduction of a new line of 100% PET Processor Trays which offer quality product display while addressing common challenges during packaging in the poultry industry and improving efficiencies of packaging. The new TekniPlex trays are made completelyof PET and comprise up to 50% post-industrial recycled material.
• In February 2021, Parkside collaborated with Addo Food Group (Addo), a leading chilled savory product producer. The main aim of this collaboration to develop a resalable pack for its range of Sainsbury's mini sausage rolls to enable consumers to reduce food waste and aid them to meet sustainability objectives. Parkside's solution will help consumers prevent it from going stale and lower this statistic by water retention in the product.
• In December 2021, European Commission introduced a draft act to update EU regulations on recycled food contact materials (FCMs). This new regulation targeted to streamline restrictions on the development, use of FCMs and certification with the newly developed plastic recycling technologies. This new draft regulation, if accepted, would update the recent EU regulation on recycled plastics in food contact, which was mainly designed for PET recycling processes
• In May 2022, Sealed Air introduced a new portfolio of design, smart packaging and digital printing solutions. These products have been found under a new brand named prismiq. This brand is targeted at generating value for consumers through the digital packaging solutions. This new product launch will aid the company tap into future graphics and digital packaging , thus improving its product offerings in the market

Regional Analysis

Geographically, the countries covered in the semirigid PET multilayers film for food package market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

North America is the dominant region in semirigid PET multilayers film for food package market during the forecast period 2022 - 2029

North America dominates the semirigid PET multilayers film for food package market as the reduced weight of packaging materials is driving the packaging market by decreasing the usage of material without compromising the performance. Furthermore, food safety and Food waste are becoming more significant challenges for regulatory bodies, mainly in the U.S. and Canada which are expected to further enhance the market's growth rate in this region. 

Asia-Pacific is estimated to be the fastest growing region in semirigid PET multilayers film for food package market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period of 2022-2029 due the presence of fastest-growing economies. Asia-Pacific overtook Europe to become the major region of this market due to the largest consumption and production capacity of semirigid PET multilayers packaging films. Furthermore, growing per-capita income and growing consumer base are expected to propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 impacted several manufacturing industries as it led to the disruption of supply chains, closure of workplaces and restrictions on transportation. The global semi rigid PET multilayers film for food package market has experienced a major decline in sales due to the food-service outlets and restaurants and being shut down over the past few years.

However, the growth of the global semi rigid PET multilayers film for food package market is attributed to the opening up of grocery purchases, food joints, and increasing consumer spending in post-pandemic period. The major market players are making several strategic decisions to bounce back post-COVID-19. The market players are conducting several R&D activities to improve their offerings through sustainable and hygienic food packaging solutions.

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