Global Reclosable Films Market – Overview
Reclosable films are high quality packaging films provide excellent oxygen and moisture barrier used to pack, store, and transport the variety of food and non-food items. Reclosable packaging films are predominantly used in key industries such as food & beverages, pharmaceuticals, personal care, and others industries, as a plastic packaging intermediary
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Global Reclosable Films Market – Competitive Landscape
The global reclosable films market is highly competitive, owing to new start-ups and entry of local players. This market includes many well-established market participants. Besides this, many other local players and start-ups are entering into reclosable films market attributing to significant revenue creation with the rising demand of reclosable films. Some of the key players operating in the global reclosable films market are DowDuPont Inc., Sealed Air Corporation, Korozo Ambalaj Sanayi Ve Ticaret AS, Schur Flexibles Holding GesmbH, Winpak Ltd., Industria Termoplastica Pavese SpA, Sudpack Verpackungen GmbH + Co. KG, Coveris Holdings S.A, Buergofol GmbH, Plastopil Hazorea Company Ltd, Berry Global Group, Inc, and TCL Packaging Ltd, among others.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure DowDuPont Inc., Korozo Ambalaj Sanayi Ve Ticaret AS, and Schur Flexibles Holding GesmbH are tier 1 players in the reclosable films market. These leading packaging giants are adopting key strategies such as acquisitions and product launch to reinforce their position in the reclosable films market. Moreover, tier 2 players are Sealed Air Corporation, Sudpack Verpackungen GmbH + Co. KG, and Plastopil Hazorea Company Ltd.
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Global Reclosable Films Market – Drivers and Restraints
The ever-increasing coffee consumption worldwide is one of the major drivers for stimulating growth of the reclosable films market. Retail shelves are often seen featuring coffee from major brands, private labels, and specialty roasters packaged in brightly colored pouches. Due to the coronavirus pandemic, the HoReCa (Hotel, Restaurant, Café) industry is suffering huge revenue losses, as individuals are skeptical to visit F&B outlets. However, the HoReCa is a key revenue generation source for reclosable film manufacturers.
Manufacturers develop reclosable films with robust seal performance. Reclosable films are used to address different types of packaging needs and exhibit superior sealing functionality. The shelf life of any product is a major factor for end users and thus, the demand for reclosable films is expected to increase considerably in the upcoming years. A small increase in shelf life, especially in meat products, is a valuable proposition for the industry participants and creates significant opportunities for them to enhance their market footprint. The reclosable films demand is benefiting from the growing dominance of large retail chains in developed and developing national markets, as these chains help to expand the market for packaged foods while laying emphasis on shelf life extension.
Global Reclosable Films Market – Geographical Outlook
Demand for reclosable films is increasing demand for convenience foods in emerging economies, such as China, India, and ASEAN countries. Convenience foods, such as bakery items, confectionery & snacks, and meat & dairy products available at various food outlets have witnessed significant rise in consumption. This is expected to positively impact the growth of the reclosable films market. Furthermore, the global food & beverages market has witnessed healthy growth over the past few years, and this is projected to continue in the foreseeable years. Moreover, this remarkable market growth is not just in mature markets of North America and European countries, but also in the fast-growing and developing markets in Asian countries.
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