The MOPP packaging films market is poised for significant growth, with an estimated valuation of USD 243.6 million in 2023. Future Market Insights (FMI) projects that demand for MOPP packaging films will increase at a steady CAGR of 4.9% from 2023 to 2033.
Core Concepts in the MOPP Packaging Films Industry
- Market Value in 2023: USD 243.6 million
- Key Market Players: Futamura Chemical Co., Ltd., Toray Plastics (America), Inc., and Now Plastics Inc.
- Leading End-use Segment: Food
- Historical CAGR (2017-2022): 1%
- North America’s Projected Market Share by 2033: 4%
Market Dynamics and Trends:
- Rise in Packaged Food Demand: The fast-paced urban lifestyle and an increased preference for convenient, ready-to-eat food products are major factors driving the demand for MOPP packaging films. These films are favored for their high-barrier, lightweight, and eco-friendly properties, making them suitable for food packaging applications.
- Eco-Friendly Packaging Solutions: With a growing emphasis on sustainability, the demand for recyclable and biodegradable packaging materials is on the rise. MOPP packaging films meet these requirements, contributing to their increasing popularity in the global market.
- Comparison with BOPP Films: While BOPP (Biaxially Oriented Polypropylene) films have dominated the polypropylene packaging market, MOPP films are gaining traction due to their superior structural and dimensional properties. MOPP films are stretched in the machine direction, providing strong mechanical properties ideal for applications requiring durability, such as labels and tapes.
Impact of the Packaged Food Industry:
- The shift towards packaged food products is significantly impacting the MOPP packaging films market. The increasing consumption of packaged or ready-to-eat meals, driven by higher disposable incomes and improved living standards, is leading to greater demand for efficient packaging solutions.
- MOPP packaging films are extensively used for food product labels and wraps, supporting the market’s growth at an anticipated rate of around 1.03x between 2032 and 2033.
Influence of the Pharmaceutical Industry:
- The pharmaceutical sector, having remained resilient during the COVID-19 pandemic, continues to drive the demand for MOPP packaging films. The industry’s expansion, coupled with a consistent need for medications, vaccines, and medical equipment, is bolstering the demand for reliable and efficient packaging solutions.
- MOPP films are integral to the primary and secondary packaging of pharmaceutical products, including labels, laminates, and wraps, ensuring product safety and integrity.
Future Outlook:
- Sustainability Focus: The growing focus on eco-friendly packaging presents a significant opportunity for MOPP packaging films.
- Pharmaceutical Growth: The continued expansion of the pharmaceutical sector is expected to further drive demand for MOPP films.
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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
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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