Cling films are used in the food and beverage industry to enhance the shelf life of various products and minimize the risks of spoilage and dust contamination. They are able to bond with any smooth surface without the use of adhesive materials. Their advantages include durability, flexibility and mechanical handling properties, which enable them to be applied to any food package. These films are also used for various other industrial applications.
Market Statistics:
The global Cling Films Market is valued at US$ 11,257.6 Mn in terms of value by the end of 2022.
Global Cling Films Market: Drivers
Growing population and rising urbanization are some of the primary driving factors for the growth of the cling films industry. Moreover, the rising adoption of on-the-go-food products is also contributing to the growth of cling film market over the forecast period. Moreover, the increased health awareness of the consumers is again projected to boost the demand for cling films in the near future.
Global Cling Films Market: Opportunities
Growing flexible packaging market is expected to provide significant growth opportunities over the forecast period. For instance, in April of 2019, Huhtamaki inaugurated its new, state-of-the-art flexible packaging unit in Egypt. The Egyptian market is sizeable, and with the rapid population growth in Africa, future growth opportunities are expected for both flexible packaging and cling films in the country.
Global Cling Films Market: Restraints
The low resistance of cling films to extreme weather is projected to hinder the growth of the market.
Global Cling Films Market- Impact of Coronavirus (Covid-19) Pandemic:
The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on cling films market.
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https://www.coherentmarketinsights.com/market-insight/cling-films-market-5518
Key Takeaways:
The global cling films market was valued at US$ 11,257.6 Mn in 2022 and is forecast to reach a value of US$ 16,599.1 Mn by 2030 at a CAGR of 4.97% between 2023 and 2030.
Polyethylene segment held dominant position in the global cling films market in 2022, accounting for 36.19% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Cling Films Market Trends:
Increasing awareness about hygiene among consumers is a key factor supporting the growth of the cling films market. Additionally, the changing lifestyles of consumers is growing trend which is driving the demand for convenient and ready-to-eat food. Moreover, technological advancements in medical applications are anticipated to drive the market growth during the forecast period.
The fast-growing food and beverage industry is expected to support the market growth. Moreover, the emergence of food aid centers in emerging economies is also a key driver for the market. For instance, the number of food aid centers in India has increased significantly. Additionally, the growing population of China is expected to spur the market. With the increasing population, the average per capita consumption is also expected to surge.
Global Cling Films Market: Competitive Landscape
3M, ADEX Srl, Alliance Plastics, All American Poly, Amcor plc, Anchor Packaging, Berry Global Inc., Deriblok SpA, HIPAC SpA, Inteplast Group, Intertape Polymer, ITS BV, Jindal Poly Films, Malpack, Mitsubishi Chemicals Corporation, Nan Ya Plastics, Novamont, Paragon Films, Sigma Plastics, and Technovaa
Global Cling Films Market: Recent Developments
In April 2020, Berry Global invested in increasing the production capacity of ultra-high performance (UHP) machines and hand stretch films. The company invested approximately US$ 30 million to increase production capacity in nine of the company’s North American locations that currently manufacture stretch films.
In April 2021, Berry Global Inc. has announced to invest over US$ 70 million to expand its capacity for consumer packaging films in North America, such as to support continued growth in consumer packaging films, primarily for e-commerce, food, and beverage applications. Moreover, the investment supports new multi-layer blown film lines along with infrastructure upgrades and other equipment that will come online in 2021 and 2022 across multiple sites in the North American manufacturing system.
