The global cavitated films market is experiencing steady growth, with sales expected to reach USD 4.1 billion in 2024 and projected to rise to USD 5.4 billion by 2034. According to recent forecasts, this market will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2034, with year-over-year (Y-o-Y) growth projected at 3.2% in 2024, following a revenue of USD 3.9 billion in 2023.
One of the primary drivers of this growth is the increasing demand for Biaxially Oriented Polyester (BOPET) cavitated films, which are set to reach USD 0.9 billion in value by 2024. These films, anticipated to grow at a CAGR of 3.3% during the forecast period, are highly sought after for their high-performance qualities in food and beverage packaging.
Their superior barrier properties help preserve freshness and extend the shelf life of products, making them particularly beneficial for perishable items.
Unlock Comprehensive Insights—Read the Full Report Today!
Additionally, the market for wraps made from cavitated films is expected to achieve a valuation of USD 1.5 billion by 2034. With a projected market expansion of 1.4 times by 2034, these wraps are favored for their durability, flexibility, and ease of use, catering to both consumer and industrial applications.
The food and beverage industry is leading the adoption of cavitated films, expected to hold 41.3% of the market share in 2024 and forecasted to grow at a CAGR of 2.7% through the forecast period. The increasing consumer preference for convenient, ready-to-eat meal options, along with the rise in e-commerce, is driving this demand.
Cavitated films’ ability to protect products from oxygen, moisture, and sunlight makes them ideal for packaging snacks, baked goods, dairy products, and frozen foods.
Key Takeaways from the Cavitated Films Industry Report
- The global cavitated films industry experienced a CAGR of 2% from 2019 to 2023.
- In North America, the United States is projected to lead the market with a CAGR of 1.7% through 2034.
- India is expected to show significant growth in the Asia Pacific region, with a CAGR of 6.5% by 2034.
- The food and beverage sector is anticipated to grow at a CAGR of 2.7%, reaching a market valuation of USD 1.69 billion by 2024.
- The East Asia cavitated film industry is projected to expand at 3.9% by 2034, expected to account for 28.6% of the total market share in 2024.
Prominent Drivers of the Cavitated Films Market
- Growing Demand for Lightweight Packaging: The shift towards lighter packaging materials in various industries, including food and consumer goods, is driving the demand for cavitated films. These films offer a reduced weight without compromising strength or barrier properties, making them an attractive option for manufacturers.
- Sustainability Trends: Increasing consumer awareness of environmental issues has led to a demand for sustainable packaging solutions. Cavitated films are often produced with less material and can enhance recyclability, aligning with the sustainability goals of many brands and manufacturers.
- Enhanced Barrier Properties: Cavitated films provide excellent barrier properties against moisture, oxygen, and gases, making them ideal for packaging perishable goods. This capability is driving their use in food packaging and other applications where product preservation is crucial.
- Technological Advancements: Innovations in film production technology, such as improved extrusion and processing techniques, are enhancing the performance characteristics of cavitated films. These advancements enable manufacturers to produce films with better clarity, strength, and functionality.
- Rising E-commerce and Retail Packaging Needs: The growth of e-commerce and the need for efficient packaging solutions that can withstand shipping and handling are fueling the demand for cavitated films. Their lightweight nature and protective qualities make them suitable for various retail packaging applications.
Competitive Landscape
Key players in the cavitated film market are investing in sophisticated technologies and facilities, as well as forming collaborations. Key cavitated film providers have also been acquiring smaller players to expand their footprint and penetrate the cavitated film market in numerous regions.
Key Players of the Cavitated Films Industry
- Innovia Films
- Süper Film Packaging Industry Inc.
- JPFL Films Private Limited
- vpipl
- CHIRIPAL POLY FILM
- Flex Films
- Cosmo Films Limited
- Vibac Group S.p.a.
- Brückner Maschinenbau GmbH
- Inteplast Group
- Rowad National Plastic Co., Ltd.
- Nahar PolyFilms Ltd.
- Ampacet Corporation
- POLYFIL
- SIBUR petrochemical group
- Transparent Paper Ltd.
- VALTEC ITALIA
Recent Industry Developments in the Cavitated Films Market
- In April 2024, Inteplast BOPP films and VerdaFresh collaborated to develop high-barrier film solutions meeting the demand for sustainability and is an economical option.
- In May 2024, Cosmo Films introduced a new and diverse product range at Drupa 2024 thus expanding its distribution network.
Key Segments of the Cavitated Films Industry
By Material:
In terms of material, the industry is divided into polypropylene (PP), polyethylene (PE), Biaxially oriented polyester (BOPET), polyamide (PA), polystyrene (PS), and polyvinyl chloride (PVC).
By Application:
In terms of application, the industry is segregated into bags and pouches, lamination, tapes, labels, wraps, and others.
By End Use:
The industry is classified by end use as food & beverages, pharmaceutical, cosmetics & personal care, electrical and electronics, chemical, and other industrial.
By Region:
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa have been covered in the report.
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube