PET film demand in the packaging market is forecast to expand 2.4% annually to 322 million pounds in 2021, faster than any of the major packaging film resins. Growth will be driven by rising barrier requirements, particularly in food packaging.
PET’s moderate barrier properties can better address these requirements than other commodity resins at a comparable cost. These and other trends are presented in Packaging Films Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand for PET film in food packaging is expected to grow 2.5% per year to 219 million pounds in 2021. Meat, poultry, seafood and snack food were the two leading outlets for PET film packaging in 2016, together accounting for 40% of demand. In both markets, growth will be stimulated by higher barrier demands. Opportunities in the meat, poultry, and seafood market include packaging and retort pouches for heat-and-eat products, with growth areas in snack foods, including high-barrier, transparent pouches for snack nuts and high-end chip and popcorn bags.
However, according to analyst Ellen Kriz, “Growth will be restrained by competition from high-barrier resins such as nylon and PVDC that are well-established in the meat, poultry and seafood market, as well as limited applications in snack food packaging. Most demand for film in snack food packaging derives from polypropylene bags.”
The 191-page Packaging Films Market in the US report is available for $5,300. Contact Corinne Gangloff by phone 440/684-9600 or email at email@example.com.