31-Jul-2019 | Zion Market Research
Zion Market Research has published a new report titled “Food Wrap Film Market by Material Type (Aluminum, Plastic, and Paper) and by End-User (Retail, Food Service, and Food Processing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global food wrap film market was USD 10,249 million in 2018 and is expected to reach USD 12,103 million by 2025, at a CAGR of 2.1% between 2019 and 2025.
Food wrap films are specially designed wrapping materials that keep the food fresh, protect it from contamination, and enhance its shelf life. These are used for the purpose of short-term food preservation. Additionally, these are used to wrap highly perishable food items, such as confectionaries, processed meat, and seafood along with fast food and ready-to-eat food to preserve their freshness for an extended time.
Browse the full “Food Wrap Film Market by Material Type (Aluminum, Plastic, and Paper) and by End-User (Retail, Food Service, and Food Processing): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/food-wrap-films-market
The global food wrap film market is likely to grow notably in the future, owing to the consistently rising demand for on-the-go food and with an extended shelf life. Additionally, increasing food consumption, growing demand for various food flavors and beverages, escalating productivity of food wrap film manufacturers are also projected to drive the food wrap film market. However, the higher cost of production against conventional means of food wrapping and detrimental effects on the environment due to plastic wrap films may impede the expansion of the food wrap film market globally.
The global food wrap film market is fragmented based on material type and end-user. By material type, the market includes aluminum, plastic, and paper food wrap films. The aluminum segment is dominating the global market for food wrap films, with over 70% market share. While plastic and paper food wrap films hold second and third positions in the market, respectively. Furthermore, plastic food wrap films are projected to take over a major market share of the aluminum segment and will show the fastest CAGR over the forecast period. Paper films will continue with their marginal market share over the projected timeframe.
The end-user segment of the food wrap film market is classified into retail, food service, and food processing. The food service segment is expected to account for the highest market share over the forthcoming years, owing to the tremendous potential of the untapped food service sector, particularly in the emerging economies.
North America dominates the global food wrap film market and is estimated to retain its market leadership over the forecast time period. The Asia Pacific region will manifest the highest CAGR in the food wrap film market globally in the years ahead, owing to the increasing disposable income of the regional population and growing awareness about nutritious and healthy diet options.
Some major players of the global food wrap film market are Reynolds Group, Mondi Group, Mitsubishi Chemical Holdings, Amcor, United Company, RUSAL, Hindalco Industries, Berry Global, Georgia-Pacific, Huhtamaki Oyj, and Thong Guan Industries.
This report segments the global food wrap film market into:
Global Food Wrap Film Market: Material Type Analysis
Global Food Wrap Film Market: End-User Analysis
Global Food Wrap Film Market: Regional Analysis
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