Europe and North America reclosable films market is expected to account for more than 64% of the market share in the global reclosable films market, in terms of value
Global reclosable films market is estimated to be worth more than US$ 130 Mn by the end of the forecast period and is projected to expand at a CAGR of 7.8% during the forecast period. The demand for reclosable films is expected to grow during the forecast period due to its re-closability feature. Reclosable films market comprises of several material types such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET). These are used to package different type of products. Furthermore, better shelf presence is expected to be one of the significant contributors in increasing the sales of the product. This in turn, is expected to boost the growth of global reclosable films 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.
The global food industry has reflected positive growth, especially in emerging economies such as China, India, and Brazil among others. Customized food packaging is gaining traction which is expected to drive sales of reclosable lidding films over the forecast period. Reclosable films are one such packaging product which has evolved to cater to the food industry, personal care & home care, pharmaceuticals and other industry.
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.
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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.
By thickness, reclosable films market has been segmented into up to 100 micron, 100 to 200 micron, and above 200 micron.
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.
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.
Key players in the global reclosable films market are 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.