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 microcavitation. 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.
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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.
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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.
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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