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The Global Plastic Food Wrappers Market Overview:
The rise in the consumption of convenience foods is fueling the market for food packaging. The convenience features like easy opening, portability, or single-use packaging drives the development of food packaging for processed food items. Convenience and visual appeal are two factors that are driving the growth of the food packaging industry.
A global Plastic Food Wrappers market size was estimated in the range of US$ 348.08 billion by 2020. The market is projected to grow at an annual compound growth rate (CAGR) in the range of 4.2% from 2021 to 2028. Rapidly expanding key application industries like food and beverage, pharmaceuticals, as well as household and personal care are driving demand. Additionally, the increasing popularity of organized and electronic retail in the world is driving the expansion of this market. Plastic comes in flexible as well as rigid, transparent and lightweight packaging. This is the reason why the most important application fields prefer it over other materials like glass or metal. Additionally, engineered plastic is able to be used in extreme environments and is not degraded in extreme temperatures, thus protecting the integrity of the products, including food and drinks and cosmetics.
Packaging is the biggest consumer segment for plastics that accounts for more than 40% of all use of plastic around the globe. Bags and bottles are the most commonly used and produced plastic food wrappers materials in the world, and it is estimated that over 2 million plastic bags that are single-use and more than one million bottles of plastic are being distributed globally every minute. This figure is predicted to grow to half a trillion in 2020.
The introduction of polyethylene Terephthalate (PET) along with high-density polyethylene (HDPE) polymers has increased the number of plastic Food wrappers applications within the category of liquid packaging. HDPE plastic bottles rank popular packaging options for fresh juices and milk products.
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Additionally, the increase in the population of working women in several countries is leading to a rise in the overall need for packaged food items since these consumers have a substantial consumption capacity and a busy life.
But, due to the increasing awareness of health issues and the means to avoid water-borne illnesses, consumers are constantly buying packaged water. With the increase in demand for bottled drinking water, demand for plastic Food Wrappers is rising which is increasing the demand for the market.
According to Vanden Recycling Ltd, there has been no decrease in the demand for PET or HDPE to be used in plastic bottles. Other polymers are also sought-after for different plastic packing applications.
Market Trend and Dynamics of the Global Plastic Food Wrappers Market:
Food Segment would acquire Major-Share:
The food industry is the main market for PET packaging materials. As per the British Plastic Federation (BPF) more than 70% of soft drinks that are sold on the market are packaged with PET bottles; however, only 30% is packaged in other kinds of packaging materials, including metal cans, glass bottles and cartons made of paper.
Food packaging is among the most significant consumers of plastic. The need for rigid plastic Food Wrappers for the food industry is increasing as they are replacing traditional materials like paperboard, metals and glass due to their benefits like lightweight and lower cost.
The food packaging segment covers packaging solutions for condiments and sauces, syrups and pickles, jam, processed fruits and vegetables, as well as baby food.
North America region going to dominate the Plastic Food Wrappers Market:
North America is one of the regions that is growing fastest when it regards Plastic Food Wrappers. As per the Plastic Oceans Foundation, more than 100 billion plastic bags are consumed by Americans each year. With such a high rate of consumption at 109 kg per capita, the United States is expected to remain the top market for plastic bags over the next few years.
The industry of packaging across the North American region has undergone radical changes in the recent past. The growth of e-commerce and technological advancements in digital printing and sustainability are leading the pack. In the wake of this, there is an increase in demand for environmentally sustainable packaging.
According to the Flexible Packaging Association More than 60% of the consumers within North America are keen to spend more money for functional and tangible packaging benefits, including packaging protection, shipping efficiency and supply chain efficiency as well as other benefits.
Flexible packaging is used primarily for food products and contributes to over 60 percent of the market. The US industry of flexible packaging is seeing a significant increase, as the market was able to come up with new and innovative solutions to the numerous packaging challenges it was faced with. Based on the Flexible Packaging Association, brands owners are embracing bags, films, and pouches as their primary packaging solution, which is due to the wide adoption of American consumers.
The Key Market Segmentation of the Global Plastic Food Wrappers Market:
Global Plastic Food Wrappers Market can be divided into Product Types, Materials, End-User and Geographical landscapes, etc.
Plastic Food Wrappers Market Segmentation By Product Type:
Bottles and Jars
Trays and containers
Other Product Types
Plastic Food Wrappers Market Segmentation By Material:
Polyethylene terephthalate (PET)
Polystyrene (PS) and Expanded polystyrene (EPS)
Polyvinyl chloride (PVC)
Other Rigid Plastic Food Wrappers Materials
Plastic Food Wrappers Market Segmentation By End-User:
Cosmetics and Personal Care
Other End-User Industries
Plastic Food Wrappers Market Segmentation By Geographical Landscape:
Middle East and Africa
Major Key Players in the Global Plastic Food Wrappers Market Are:
The Covid-19 Impact Analysis:
Since the beginning of the Covid-19 coronavirus epidemic, businesses and consumers have had to change how they think about packaging safety and health.
Since the very beginning of the epidemic, single-use plastic has become more popular. This is because consumers were worried that the use of reusable containers could increase the chance of transmission.
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