Holographic Films are used for rigid or flexible packaging due to its attractive look such as surface textures, nacreous rainbow finishes, and the holographic diffraction. These films are micro-embossed with different patterns and images and have highly flexible texture with alluring designs. They have Excellent thermal sealability, superior ink retention, flawless finish, moisture-proof, high glossiness, and strong color fastening. Moreover, gift wrapping, book cover, magazines, chips packaging, product packaging and promotional brochures are some of the major application areas of holographic films.
The global holographic films market is estimated to account for slightly less than US$ 9,833.6 million in terms of value in the year 2022 and it predicted to grow at a CAGR of 9.88% during the forecast period (2023-2030)
Global Holographic Films Market - Growth Drivers
- Growing adoption of attractive packaging for consumer goods
The growing adoption of attractive packaging for consumer goods is projected to drive the growth of the holographic film market. Fast Moving Consumer Goods (FMCG) and cosmetic goods manufacturers are adopting creating attractive packaging for their products to differentiate from their competitors’ offerings and Holographic films are ideal options that provide attractive packages to appeal to customers. Therefore, growing demand for aesthetic packaging from Fast Moving Consumer Goods (FMCG) and cosmetic packaging, industries are projected to augment the market growth of global holographic film market.
Global Holographic Films Market - Opportunities
- Growing application of polymer currency
Growing application of polymer currency as it offers high quality, durable and most importantly it should be resistant to counterfeiting is expected to offer new growth opportunities to the market of holographic film. According to the Coherent Market Insights, at present 23 countries use polymer as a base material for currency, whereas six countries, namely Australia, New Zealand, Romania, Vietnam, Papua New Guinea, and Brunei have converted all currency to the polymer. Therefore, the growing adoption of polymer currency notes and shifting focus towards polymer currency denominations is expected to offer holographic film manufacturers lucrative opportunities to capitalize on it.
Global Holographic Films Market- Restraints
- Availability of alternative of holographic films in security applications
Availability of alternative of holographic films in security applications such as Radio-frequency Identification (RFID), security inks and coatings, security printing, and graphics are expected to hinder the market growth of holographic films. These substitutes have numerous advantage over holographic films as they provide a better solution for the anti-counterfeit market. These substitutes are expected to hamper the market growth to some extent.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/holographic-films-market-3528
Key Takeaways
On the basis of end use industry, pharmaceutical industry has dominated the global holographic films market in 2022 with a 21.4% of market share in terms of value, followed by Fast Moving Consumer Goods (FMCG) and others.
Global Holographic Films Market- Trends
- Rising trend of introducing new and innovative holographic film
The rising trend of introducing new and innovative holographic film by the manufacturer in order to cater to growing demand is expected to foster market growth. For instance, in January 2019, API Group has increased its range of Transmet products with the introduction of new holographic designs. The range of 12 holographic patterns is available in API’s Transmet laminate, a plastic-free option for paperboard packaging, ensuring brand owners and designers have a sustainable packaging option without compromising on aesthetics.
- Rising number of partnerships among major players
The rising number of partnerships among major players in order to enhance their product portfolio is expected to augment the market growth over the forecast period. For instance, in October 2018, Light Field Lab and OTOY announced a technology partnership for creating an end-to-end system for creating and displaying glasses-free holographic content. Under the terms of the partnership, Light Field Lab will contribute its holographic display technology and OTOY will offer its ORBX Technology for rendering media and graphics with holographic display panels.
Competitive Section
Key players operating in global holographic film market are Toray Industries, Inc., Avery Dennison Corporation, Nan Ya Plastics Corporation, Jindal Poly Films Ltd (B.C. Jindal Group), Uflex Limited, SRF Limited, Cosmo Films Limited, API Group Plc, K LASER Technology Inc., and Polinas Plastik Sanayi ve Ticaret A.S.
Few Recent Developments
- In 2021, the Reserve Bank of Australia released a new $ 100 US$ notes that has a holographic strip and other cutting-edge security measures.
- In 2021, Mercedes-Benz launched a limited-edition G-Class SUV with holographic paintwork. Mercedes-Benz is a 1926-founded Germany-based luxury and commercial vehicle automotive brand.
- In 2020, PepsiCo launched a marketing campaign in India that produced 3D images of its products using holographic films. PepsiCo is a Harrison, New York-based American international food, snack, and beverage firm.
