Market Overview
Cavitated Films Market: Overview
Cavitated films meant for packaging purposes offer enormous growth opportunities. Cavitated films find application in the food industry for the packaging of ice creams, chocolates, and other snacks. The main feature of cavitated films is micro cavitation. Cavitated films are poised to witness increasing demand from the packaging industry due to their all-purpose conversion characteristics. Cavitated BOPP films have superior machinability, which makes them an ideal choice for VFFS and HFFS packaging applications.
Growth in Consumption of Convenience Foods
There has been a year-on-year increase in the demand for convenience food, especially in emerging economies such as India, China, and ASEAN countries. Convenience foods such as snacks, and confectionary items available at restaurants have witnessed an increase in consumption across the world. This is expected to positively impact the growth of regional cavitated films markets.
One the main factors driving the cavitated films market is the low density offered as compared to their alternatives. This enables cavitated films to be more cost-effective than their alternatives, which, in turn, is projected to escalate the cavitated films market during the forecast period. In addition, the growing demand for the enhanced shelf life of food products such as ice creams and chocolates has created demand for micro cavitated films. Increase in the preference for flexible packaging solutions is accredited to the growing desire for convenience packaging. Since countries such as Thailand and Vietnam are witnessing a change in consumer acuities regarding food consumption, a substantial amount of consumers give emphasis on nutritious food with convenience packaging solutions, which enhance product life. Rising consumer awareness towards packaging, coupled with a shift in preference for flexible packaging solutions, is expected to drive the growth of the cavitated films market.
Fierce Competition from Alternative Plastic Materials for High Barrier Packaging
Increase in the demand for flexible packaging solutions has led to the increasing demand for high and ultra-high barrier films. Nowadays, various materials such as EVOH, PVdC, and PA are being used as barrier materials, which has intensified the competition. All these factors might hamper the cavitated films market in the coming years.
Cavitated Films Market: Regional Outlook
Regions such as Europe and North America represent developed markets for cavitated films. However, cavitated films have been witnessing strong demand in developing economies such as China and India, catapulted by expansion of the flexible packaging industry in these countries. Moreover, other Asian countries such as Myanmar and Vietnam have been experiencing strong growth in their flexible packaging industries. This is expected to facilitate the growth of the Asia Pacific cavitated films for packaging market during the forecast period.
Cavitated Films Market: Key Players
Some of the key players in the cavitated films market are as follows:
- Jindal Poly Films Limited
- Cosmo Films Ltd
- Mitsui Chemicals Tohcello, Inc
- Vacmet India Ltd
- Oben Group
- KristaFilms, S.A. de C.V.
- Polinas Plastics of America
- Innovia Films
Mergers and Acquisitions - Strategy Adopted to Sustain in the Market
The cavitated films industry has witnessed a number of mergers and acquisitions between the top players in the market.
- For instance, Jindal Poly Films Ltd., which is an India-based manufacturer of polyester-based packaging films, acquired the global BOPP business of Exxon Mobil Chemical. The deal provided Jindal Poly Films Ltd. with five BOPP production units located across the U.S. and Europe. Jindal Poly Films Ltd. is in talks to acquire the European business segment of DuPont Teijin Films.
Therefore, large companies are focusing on consolidation to expand into untapped markets and enhance their production capacities of cavitated films.
The report on cavitated films market is a compilation of first-hand information, and qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. Cavitated films market also maps the qualitative impact of various market factors on market segments and geographies.
Cavitated Films Market: Regional Analysis Includes –
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Cavitated Films Market: Segmentation
On the basis of thickness, cavitated films can be segmented as:
- Below 20 Microns
- 20 - 40 Microns
- 41 - 70 Microns
- Above 70 Microns
On the basis of material, cavitated films can be segmented as:
- Baxially-oriented Polypropylene (BOPP)
- Polyethylene Terephthalate (PET)
- Others
On the basis of end use, cavitated films can be segmented as:
- Food
- Ice Creams
- Chocolates
- Confectionaries
- Biscuits & Breads
- Other Snacks
- Personal Care
- Soaps
- Others (Shower Gels, etc.)
Cavitated Films Market: Report Highlights
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth segmentation of the global cavitated films market
- Historical, current, and projected size of the global cavitated films market, regarding volume and value
- Recent industry trends and developments
- Competitive landscape in the global cavitated films market strategies for key players operating in the protective fabrics and products offered by them
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on performance of the global cavitated films market
- Must-have information for global cavitated films market to sustain and enhance their market footprint
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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