North America Semirigid PET Multilayers Film for Food Package Market, By Type (Transparent/Clear and Colored), Product Type (Bottles, Boxes, Jars, Pouches, Trays, Repack, and Others), Packaging Size (Less Than 100 Grams, 101-200 Grams, 201-300 Grams, 301-500 Grams, 500-1000 Grams, and More Than 1000 Grams), Application (Food and Beverages, Dietary Supplements, Sports and Energy Drinks), Distribution Channel (Direct and Indirect) Industry Trends and Forecast to 2029.
North America Semirigid PET Multilayers Film for Food Package Market Analysis and Insights
Growth in usage of semirigid pet multilayer packaging film for preventing oxygen and water penetrability and increase in demand and awareness for semirigid multilayer films for shelf-life are expected to drive the demand for the North America semirigid PET multilayers film for food package market. However, volatility in the prices of raw materials and the availability of alternative products may further restrict the market's growth.
Data Bridge Market Research analyses that the North America semirigid PET multilayers film for food package market is expected to reach the value of USD 93,296.20 thousand by 2029, at a CAGR of 3.6% during the forecast period. Transparent/clear accounts for the largest type segment in the North America semirigid PET multilayers film for food package market. The North America semirigid PET multilayers film for food package market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Transparent/Clear and Colored), Product Type (Bottles, Boxes, Jars, Pouches, Trays, Repack, and Others), Packaging Size (Less Than 100 Grams, 101-200 Grams, 201-300 Grams, 301-500 Grams, 500-1000 Grams, and More Than 1000 Grams), Application (Food and Beverages, Dietary Supplements, Sports and Energy Drinks), Distribution Channel (Direct and Indirect)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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Wihuri Group, Evertis, Sealed Air, Amcor plc, and Krehalon B.V. (A subsidiary of KUREHA CORPORATION), among others
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Market Definition
Polyethylene Terephthalate is a clear, strong, lightweight plastic belonging to the polyester family. It is widely used as a food packaging material because it is hygienic, strong, lightweight, shatterproof, and retains freshness. The semirigid PET multilayers film has a combination of several layers. This significantly increases the shelf life by controlling oxygen, carbon dioxide, and moisture transmission rate.
Manufacturers and packaging designers prefer the semirigid PET multilayers film as they are safe, strong, transparent, and versatile. Their properties allow for superior innovation in terms of both package design and performance. It helps in protecting the integrity, freshness, and taste of the food items. Consumers highly recognize them due to their light weight, resealability, shatter resistance, and innovative style. They have good barrier properties that protect and preserve the contents of the package. They can be recycled easily, and the PET material can be used again for a wide range of applications.
North America Semirigid PET Multilayers Film For Food Package Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing usage of semirigid pet multilayer packaging film for preventing oxygen and water penetrability
In the current scenario, there is a huge demand for multilayer-based packaging films owing to shifting consumers' preference toward the adoption of packed food. Such films are co-extruded because they are created through a multilayer coextrusion process. The semirigid PET multilayer packaging film is made up of several layers of PETs as well as other materials that enhance the mechanical and physical properties of the film, such as puncture, tear, and heat resistance, as well as helping to prevent interaction with oxygen, moisture, and other gases such as carbon dioxide, as well as limiting the effect of mineral oil and UV light. Therefore, the increasing use of semirigid PET multilayer films for food packaging to protect packaged products from gases and moisture is expected to boost demand for these multilayer films, resulting in the growth of the North America semirigid PET multilayers film for food package market.
- Increasing demand and awareness for semirigid multilayer films for shelf-life
The increasing consumers' busy modern lifestyles and the resulting demand for convenient food packaging is constantly driving demand for semirigid PET multilayer films. This is because semirigid PET multilayer films help extend the product life of the package. The mixture of several polymer layers greatly increases shelf-life by controlling the rate of oxygen, carbon dioxide, and moisture transmission, as well as the concentration of oxygen inside the package, conserving the freshness of fresh produce for a prolonged period. People are becoming more aware of the semirigid PET multilayer film food packaging for longer shelf-life as their environmental concerns grow. Moreover, the spread of COVID-19 across most countries in the world has the demand for packaged food to rise by three folds than normal as consumers look to long shelf-life food products.
- Shifting consumer preferences towards the consumption of packaged foods
The immense global popularity of ready-to-eat food products is increasing, influencing consumer shifts toward packaged goods. Working professionals with a hectic work-life balance and an increasing workload are driving up demand for packaged food. Thus, rising demand for packaged foods is expected to aid in developing the North America semirigid PET multilayers film market for food packaging. Food spoilage during handling and storage is also expected to drive uptake of packaging PET multilayer films in the coming years, as their impermeable nature makes them ideal for storing packaged food items. As a result of busier consumer lifestyles and the resulting demand for convenience food products through packaging, the market's growth may accelerate.
- Wide application scope of semirigid pet multilayers film in the food industry
PET film is used in many applications due to its unique optical, physical, mechanical, thermal, and chemical properties. It is primarily used in a wide range of semirigid PET multilayer film packaging applications, from food and drugs to industrial and consumer goods. For the barrier, metal adhesion is laminating adhesion, extrusion coating adhesion, printing, or sealing, as plain or metalized, formable, heat-shrinkable, and coated. PET multilayer film has exceptional properties for the packaging market. A semirigid PET multilayer film has a wide range of applications in the food industry, including meat, poultry, fish, dairy, snacks, beverages, dehydrated food and cereals, bakery products, confectionery, pet food, and many others. A semirigid PET multilayer film has a wide range of applications in food packaging, including bread bags, pasta bags, snack & nutrition bars, high temperature/microwave/boil-in bag packaging, pet food packaging, and pouches/stand-up pouches/re-closable pouches or trays, and many others.
Opportunities
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Growing creative packaging solutions with new design ideas
Packaging is constantly changing with new materials, technologies, and processes. These changes are due to the need for improved product quality, productivity, logistics, environmental performance, and ever-changing consumer preferences. In the food industry, most packaging operations are automatic or semi-automatic. Adopting new and advanced printing technologies is on the rise to offer consumers personalized packaging solutions. This has helped businesses to increase their brand value in the market and enhance customer engagement with the product packaging. Therefore, the growth in the packaging solutions with new designs and innovations for creating and sustaining competitive advantage, meeting changes in consumer behavior, and availability of new materials and technologies may provide various growth opportunities for the North America semirigid PET multilayers film for food package market.
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Upsurge in the demand for customer-friendly packaging
A major factor critical for innovation in food packaging is the increasing consumer demand for convenience. Modern packaging solutions offer many convenience attributes. These include ease of access and opening, disposal and handling, product visibility, reseal ability, microwave ability, and prolonged shelf life. There has also been an inclination towards the consumption of convenience foods. The fast-paced lifestyle changes have increased the demand for ready-to-eat foods. This increases the need for semirigid PET multilayer films for packaging, delivering, and preserving food items. Thus, the ever-changing consumer preferences, trends in the e-commerce industry, and demand for customer-friendly packaging products have opened up ample opportunities for semirigid PET multilayers film packaging solution providers to adopt innovative technologies and designs to increase their market share.
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Expansion of food industry influences packaging films
The evolution of food service packaging is a major cause of the expansion of the food industry. Foodservice has grown to be a significant part of consumer spending. The food service industry includes restaurants, hotels, cafes, and catering services. As this trend increases, its influence on food packaging also increases. Packaging plays a key role in ensuring food safety and providing convenience to consumers. Furthermore, factors including globalization, changing standard of living, health and wellbeing, and higher disposable incomes are creating demand in the food industry. The food industry has undergone drastic developments in recent times. Therefore the growth and development of the industry may provide new opportunities for the growth of the North America semirigid PET multilayers film for food package market.
Restraints/Challenges
- Volatility in prices of raw materials
PET is a synthetic fiber that has been manufactured. However, its raw materials are still derived from nature, a non-renewable natural resource. It is a type of plastic that is commonly derived from petroleum. There are alternatives to petroleum-derived PET, such as those made from recycled plastic, crops, or even waste. Rising crude oil prices are causing concern in industries that rely on natural oil derivatives, such as semirigid PET multilayer films. The selling prices of semirigid PET multilayer films fluctuate due to changes in the prices of purified terephthalic acid (PTA) and mono ethylene glycol (MEG), the basic raw materials used to make PET from crude oil. PTA and MEG prices are heavily influenced by crude oil prices and currency exchange rates. Some consumers of semirigid PET multilayer films appear to accept the fluctuating price trend, while most consumers do not. As a result, the growth of the North America semirigid PET multilayers film for food packaging market is severely hampered.
- Availability of alternative products
People have been witnessing a never-before-seen global campaign against the production and use of plastic in recent years. Plastic waste has influenced public opinion, and due to this new consumer susceptibility, international legislators are passing restrictive laws on the use of disposable plastics—creating new processes and polymers capable of replacing the current oil-based PET film production. So, the PET alternatives already on the market and those being developed are BIO-PET, other non-biodegradable polymers, and natural and biodegradable polymers. Polyethylene furoate (PEF) and polytrimethylene furan dicarboxylate are two alternative polymers currently available (PTF). They are furan polymers that could be obtained from 100 percent renewable sources. There is a tremendous amount of activity around the world related to developing biodegradable polymers for all types of applications traditionally associated with plastic.
- Concerns about the recycling of multilayer films
Manufacturers can choose different materials and layer combinations while developing multilayer packaging solutions. This has led to prevention in a clear separation of individual material groups. The major challenge in recycling post-consumed plastic waste is sorting the multilayer packaging. The multilayer packaging is difficult to identify and hard to recycle. Identification technologies need to be deployed to identify the different surface properties. Multilayer packaging is a complex mixture of other materials that are also contaminated after use. Therefore, a lack of large-scale industrial sorting and recycling processes for multilayer packaging solutions may challenge the growth of the North America semirigid PET multilayers film for food package market.
- Environmental concerns and strict government regulation
PET is one of the most commonly used plastics. There are growing concerns regarding the serious issues of plastic pollution and its negative environmental impact. It disturbs the environment in many ways by affecting the air, soil, and water quality. Burning PET material releases harmful gases such as nitric oxide, sulfur dioxide, and chlorofluorocarbon. The production process of PET is an energy-intensive process. The emissions from the process severely contaminate water sources with many pollutants. Moreover, improper management and stringent government regulations further decrease the demand for these products in developing countries. This, in turn, may challenge the growth of the North America semirigid PET multilayers film for food package market.
Post-COVID-19 Impact on North America Semirigid PET Multilayers Film For Food Package Market
COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Due to the lockdown, the North America semirigid PET multilayers film for food package market has experienced a significant downfall in sales due to the restaurants and food service outlets being shut down over the past few years.
However, the growth of the North America semirigid PET multilayers film for food package market post-pandemic period is attributed to the opening up of food joints, grocery purchases, and consumer spending. The key market players are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve their offerings through hygienic and sustainable food packaging solutions.
Recent Developments
- In June 2022, Winpak Ltd. received ISCC (International Sustainability and Carbon Certification) PLUS Certificate for the use of Recycled Content. This certification provides traceability along the supply chain and verifies that companies meet environmental and social standards. ISCC PLUS certification proves that the process to be used by the company for the use of recycled content follows defined and transparent rules. This certification will enhance the company's image in the market and help it gain a competitive advantage
- In May 2022, Sealed Air launched a new portfolio of digital printing, design, and smart packaging solutions. These products have been found under a new brand - prismiq. The brand is aimed at creating value for customers through digital packaging solutions. This new product launch will help the company tap into future digital packaging and graphics, thereby enhancing its product offerings in the market
North America Semirigid PET Multilayers Film For Food Package Market Scope
The North America semirigid PET multilayers film for food package market is segmented based on type, product type, packaging size, application, and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Transparent/Clear
- Colored
On the basis of type, the North America semirigid PET multilayers film for food package market is segmented into transparent/clear and colored.
Product Type
- Bottles
- Boxes
- Jars
- Pouches
- Trays
- Repack
- Others
On the basis of product type, the North America semirigid PET multilayers film for food package market is segmented into bottles, boxes, jars, pouches, trays, repack, and others.
Packaging Size
- Less Than 100 Grams
- 101-200 Grams
- 201-300 Grams
- 301-500 Grams
- 500-1000 Grams
- More Than 1000 Grams
On the basis of packaging size, the North America semirigid PET multilayers film for food package market is segmented into less than 100 grams, 101-200 grams, 201-300 grams, 301-500 grams, 500-1000 grams, and more than 1000 grams.
Application
- Food and Beverages
- Dietary Supplements
- Sports and Energy Drinks
On the basis of application, the North America semirigid PET multilayers film for food package market is segmented into food and beverages, dietary supplements, and sports and energy drinks.
Distribution Channel
- Direct
- Indirect
On the basis of distribution channel, the North America semirigid PET multilayers film for food package market is segmented into direct and indirect.
North America Semirigid PET Multilayers Film For Food Package Market
The North America semirigid PET multilayers film for food package market is analyzed, and market size insights and trends are provided by country, type, product type, packaging size, application, and distribution channel as referenced above.
The North America semirigid PET multilayers film for food package market covers countries such as U.S., Canada, and Mexico. The U.S. is expected to dominate the North America semirigid PET multilayers film for food package market as the packaging market is being driven by reducing the weight of packing materials by reducing material usage without compromising the performance. Also, food waste and food safety are becoming more important challenges for regulatory bodies, particularly in the U.S., Canada, and Mexico.
The country section of the North America semirigid PET multilayers film for food package market report also provides individual market impacting factors and domestic regulation changes that impact the market's current and future trends. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Semirigid PET Multilayers Film For Food Package Market Share Analysis
The North America semirigid PET multilayers film for food package market competitive landscape provides details of the competitor. Details include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, and application dominance. The above data points are only related to the companies focus on the North America semirigid PET multilayers film for food package market.
Some of the major players operating in the North America semirigid PET multilayers film for food package market are Wihuri Group, Evertis, Sealed Air, Amcor plc, and Krehalon B.V. (A subsidiary of KUREHA CORPORATION), among others.
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