Global Reclosable Films Market: Market Driver and Restraint
Applications of Reclosable Films are anticipated to create new business segments in the market. Reclosable Films is in use for a broad range of Food & Beverages, Pharmaceuticals, Personal care & cosmetics, Industrial & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market.
Manufacturers of packaging are catering to the demand of the consumers by providing multi-align closures that offer consumer convenience, easy re-sealing and are combining with flexible as well as rigid packaging formats that offer product access with full perimeter reseal ability for products like food & beverages, personal care & home care, pharmaceuticals and other products.
Global Reclosable Films Market: Key Takeaways
In reclosable packaging formats such as trays, cups, and bags & pouches, consumer convenience is kept at the epicentre. Among packaging type, trays segment is expected to account for the highest market share in the global reclosable films market during the forecast period owing to ease in opening and reclosing.
For instance, reclosable films can now be infused with food product categories, such as, frozen food, ready-to-eat food, meat, poultry, seafood, dairy and, bakery & confectionery products. Manufacturers are capitalizing on latent opportunity for the use of reclosable lidding films as a promotional medium, as the reclosable lidding films offers printing on its surface for brand promotion. This trend is adopted by leading food packaging companies, fuelling the demand for the reclosable film as a promotional and marketing tool.
Reclosable lidding films are available in various thickness, even though they fail to provide physical protection to the product. They are prone to wear and tear and have low puncture resistance which in turn, may affect product quality. Hence, reclosable lidding films require gentle and proper handling throughout the value chain in order to provide protective and efficient packaging solution.
Global Reclosable Films Market: Forecast by Type
By peel strength, the global reclosable films market has been segmented into easy peel films and medium peel films. Among these, easy peel films segment is expected to dominate the market with nearly 90% of market share in terms of value.
Global Reclosable Films Market: Forecast by Thickness
By thickness, reclosable films market has been segmented into up to 100 micron, 100 to 200 micron, and above 200 micron.
Global Reclosable Films Market: Forecast by Region
By geographic market segments reclosable films market has been divided into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North Africa region is projected to register the highest CAGR of 8.3%, during the forecast period. Asia Pacific represents the total incremental $ opportunity of US$ 5.6 Mn by the end of 2022.
Global Reclosable Films Market: Key Players
Coveris Holdings S.A., DowDuPont Inc., Korozo Ambalaj Sanayi Ve Ticaret AS, Industria Termoplastica Pavese SpA, AS Estiko Plastar, Stratex Group Limited, Parkside Flexibles (Europe) Limited, TCL Packaging Ltd, Buergofol GmbH, Plastopil Hazorea Company Ltd, Bemis Company, Inc., Berry Global Group, Inc., Sealed Air Corporation, Mitsui Chemicals, Inc., Südpack Verpackungen GmbH + Co. KG, Schur Flexibles Holding GesmbH, Termoplast srl, HFM Packaging, Ltd., Folian GmbH, and Winpak Ltd. are the key vendors included in this report.
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