The MOPP packaging films market is projected to register high demand, with the overall valuation reaching US$ 243.6 million in 2023. FMI also forecasts MOPP packaging films demand to increase at a steady 4.9% CAGR between 2023 and 2033.
MOPP packaging films are widely used in the food and beverage, pharmaceutical, personal care, and industrial sectors. These films provide a reliable and cost-effective solution for packaging goods, ensuring their safety and extending their shelf life. With increasing consumer awareness about product quality and safety, the demand for MOPP packaging films has witnessed significant growth over the years.
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Factors Driving the Growth of the MOPP Packaging Films Market
The MOPP Packaging Films Market is driven by several factors that have contributed to its sustained growth. Let’s explore some of the key drivers below:
1. Increasing Demand for Sustainable Packaging Solutions
In recent years, there has been a growing emphasis on sustainable packaging solutions. MOPP packaging films, being recyclable and eco-friendly, have gained immense popularity among manufacturers and consumers alike. The ability of MOPP films to reduce the overall carbon footprint and minimize waste generation has made them a preferred choice in the packaging industry.
2. Rising Disposable Income and Changing Lifestyles
As disposable income levels rise, consumer preferences and lifestyles undergo significant changes. The demand for convenient, ready-to-eat, and on-the-go food and beverage products has surged. MOPP packaging films provide the necessary barrier protection and flexibility required for such products, driving their adoption in the market.
3. Technological Advancements in Film Manufacturing
The continuous advancements in film manufacturing technologies have led to the development of high-performance MOPP packaging films. These films exhibit superior mechanical properties, excellent printability, and enhanced barrier capabilities. Manufacturers are investing in research and development activities to innovate and introduce new variants of MOPP films to cater to diverse industry requirements.
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Growing preference regarding eco-friendly packaging alternatives is encouraging advancements in MOPP packaging films market. These films are made from a single material and have high recycled value. As a result, increasing adoption of sustainable solutions in the packaging industry to comply with environment protection initiatives will continue driving sales of MOPP packaging films during the forecast period.
As per FMI’s in-depth regional analysis, the U.S. is projected to dominate the North America MOPP packaging films market. Growth can be attributed to the presence of several key market players in the country and high demand from the pharmaceutical and foodservice industries.
“Market players are currently focusing on product innovations to offer greater sustainability. Besides this, emphasis on research initiatives is expected to increase as companies aim at offering customized packaging solutions for specific industries,” says the FMI analyst.
Key players
- Futamura Chemical Co., Ltd.
- Toray Plastics (America), Inc.
- Now Plastics Inc.
- Transcendia, Inc.
- Monta Klebebandwerk GmbH
- Nowofol Kunststoffprodukte GmbH & Co. KG
- Lenzing Plastics GmbH Co KG
Key Takeaways:
- By thickness, above 60-micron MOPP packaging films segment is projected to grow at a 5.6% CAGR through 2031.
- Based on application, the labels segment is expected to hold 38.6% of the total MOPP packaging films market share in 2031.
- Sales of MOPP packaging films in the food industry are projected to expand at a CAGR of 5.6% during the forecast period.
- The U.S. is anticipated to emerge as a lucrative market, accounting for 86.2% of sales in North America by 2031.
- Germany is projected to hold 15.8% of the Europe MOPP packaging films market by the end of 2031.
MOPP Packaging Films Market by Category
By Thickness:
- Below 30 microns
- 30 to 60 microns
- Above 60 microns
By Application:
- Labels
- Tapes
- Wraps
- Laminates
By End Use:
- Food
- Beverages
- Cosmetics & Personal Care
- Electrical & Electronics
- Pharmaceutical
- Other Industrial
India will continue exhibiting high demand for MOPP packaging films over the forecast period, holding 48.7% of the South Asian market share. North America and Europe currently hold over 53.6% of the total MOPP packaging films market owing to presence of well-established packaging films industry.
Growing Preference for Post-Consumer Recycled and Easily Recyclable Plastic Packaging Products to Drive MOPP Packaging Films Sales
Traditionally, it was not possible to manufacture high-quality packaging films from completely recycled products, but with advancements in technology standard, quality packaging films can be made completely using recycled raw material.
This is gaining popularity among a lot of manufacturers, as it helps in significantly reducing the carbon footprint of manufacturers, besides helping them to woo consumers showing inclination for sustainable packaging solutions.
Post-consumer recycled plastic is gaining a lot of traction as it is not only environmentally friendly but also comparatively affordable. The use of recycled plastic decreases the demand for the manufacturing of new plastic resins, which reduces the consumption of energy and fossil fuels compared to the requirement for the manufacturing of virgin plastic.
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About Future Market Insights, Inc.
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