Cavitated Films Market

Cavitated Films Market Outlook

The cavitated films market is likely to record a strong CAGR of 7% during the forecast period. The cavitated films market is currently valued at US$  3.45 Mn in 2022 and is likely to reach US$ 7.45 Mn by 2032.

Sales of cavitated films have risen owing to their application in the food industry for the packaging of ice creams, chocolates, and other snacks.

Increased demand from the packaging industry due to their all-purpose conversion characteristics are also projected to contribute to the growth of the cavitated films market share.

The report sheds light on the factors improving the sales of cavitated films, and, in turn, the opportunities for market players. However, the cavitated films market also faces some challenges, which might limit the cavitated films market share from reaching its potential.

Some of the key cavitated films market trends promoting the demand for cavitated films micro cavitation and cavitated BOPP films having superior machinability, which makes them an ideal choice for VFFS and HFFS packaging applications.

What are the Key Dynamics to the Cavitated Films Market Share

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 film markets.

One of the main factors driving the sales of cavitated films 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.

The 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.

Ismail Sutaria

Principal Consultant

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Which Region holds the Highest Growth Potential in the Cavitated Films Market

Regions such as Europe and North America represent developed cavitated films 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.

Since countries such as Thailand and Vietnam are witnessing a change in consumer acuities regarding food consumption, a substantial number 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.

How is the Competitive Landscape in the Cavitated Films Market

The key players of the cavitated films market are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use to thrive business. This is driving the sales of cavitated films.    

Some of the key participating players indulged in the sales of cavitated films are:

• 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

These market players are anticipated to drive the cavitated films market by introducing new products and expanding geographically.

The cavitated film market 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.

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