Amcor PLC (Australia) and D.S. Smith Plc (UK) are Leading Players in the Food Packaging Films Market
The food packaging films market size was USD 49.8 billion in 2021 and is projected to reach USD 72.3 billion by 2027, at a CAGR of 6.4%. The growth of the food packaging films market is estimated to be driven by the growing demand for convenience food items and innovative packaging solutions that ensure extended shelf life of food items.
Meat products are the largest application of food packaging films. Increasing health concerns and the rising awareness regarding the nutritional values of meat products are boosting the demand for food packaging in this segment. Food packaging prevents contamination caused by bacteria, pathogens, and other microorganisms. The increasing awareness about airborne diseases has also augmented the demand for safely packaged food items.
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Asia Pacific is the largest and fastest-growing food packaging films market. Factors such as large population, growing demand for convenience food products, availability of cheap raw materials for packaging, and rising health awareness are driving the market in the region. China is a major manufacturer of food packaging films.
The key players in the food packaging films market are Amcor PLC (Australia), Coveris (US), Smurfit Kappa Group (Ireland), Mondi PLC (South Africa), International Paper Company (US), D.S. Smith Plc (UK), Silgan Holdings Inc. (US), WestRock Company (US), and Sealed Air Corporation (US). These companies have undertaken strategies such as acquisitions, expansion, and new product launches to strengthen their position in the market.
Amcor PLC is one of the world’s leading packaging solutions providers. It primarily produces corrugated boxes, flexible plastic packaging, multi-wall sacks, and aluminum & steel cans. The company's products are used in a variety of sectors, including food, beverage, healthcare, personal care, pet care, homecare, and other technological applications. The company has operations in North America, Western Europe, Asia-Pacific, and Oceania.
In April 2021, Amcor had leveraged its global R&D resources to help Nestlé put enviro-conscious consumers first, by making Smarties the first confectionery brand to move to recyclable paper packaging in Australia. The new packaging technology with its various applications is used across the Smarties Chocolate Block and Bar product range; it is fully-recyclable and can go into home recycling bins, reaffirming Amcor’s commitment to more sustainable packaging today and for the future.
DS Smith is a leading provider of sustainable packaging solutions, paper products and recycling services worldwide. It is a full-service company that performs all the major functions in the production process—from raw materials to finished products. The major business segments of the company include Packaging, Recycling, and Paper. The company provides fresh food packaging products through its Packaging segment. It is also the second-largest manufacturer of container boards in Europe, and it operates in 37 countries across the globe.
- In January 2019, The company acquired Europac, a large paper and packaging business listed on the Spanish stock exchange and operating, in Iberia and France.
Related Reports:
Food Packaging Films Market by Type (Flexible, Rigid), Material (Polyethylene, Polypropylene, Polyethylene Terephthalate), Application (Meat, Poultry & Seafood, Convenience Food, Bakery & Confectionary) and Region - Global Forecast to 2027
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