Market Size of Polypropylene Packaging Films Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.78 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polypropylene Packaging Films Market Analysis
The polypropylene packaging films market was valued at USD 2.73 billion in 2020, and it is expected to reach USD 4.33 billion by 2026, registering a CAGR of 6.78% during the forecast period (2021-2026). The market witnessed a massive turnaround from reusable to disposable packaging globally. Most grocery stores worldwide started banning reusable bags due to high chances of virus transmission, and in contrast, their disposable products were flying off the shelves. The demand and trend are expected to continue in 2021 as the approaching winter will likely bring an upward flu spike and more waves of COVID-19.
- The packaging sector is continuously evolving to cater to changing consumer needs. Growing disposable incomes and the increasing middle-class population are among the prominent factors driving the demand for polypropylene packaging films across industries, such as food and beverage, consumer products, industrial goods, and others.
- The Growing demand for the film to increase the shelf life of the product is propelling the market growth of the polypropylene packaging film market. Also, the easy availability of sustainable packaging solutions helps increase the applications for polypropylene packaging film, boosting the growth of the market.
- Coronavirus outbreak is expected to have a positive impact on the packaging industry over the coming year. The demand for polypropylene packaging, mainly BOPP, which limits the risk of contamination by reducing the exposure, is expected to be favored. Also, the packaged products can be easily cleaned with the packaging on in case of any surface contact.
- However, the industry is currently facing a considerable impact on its supply chain system and production facilities due to the lockdown. Stringent isolation rules worldwide have resulted in a short supply of raw materials and workforce.
