EVOH films market set to grow at 4.7% CAGR through 2028

The ethylene vinyl alcohol films market for packaging is forecast to grow at rate of 4.7% CAGR from 2018-2028, with the majority of demand coming from food and beverage applications, as manufacturers invest in innovative packaging technologies to appeal to a wider consumer base of environmentally-conscious consumers. This is according to a new report, “EVOH Films for Packaging Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2028,” from Fact.MR.

Says the report, due to the film’s ability to extend shelf life and limit product loss, EVOH is an ideal material for food and beverage applications. But the market will also benefit from the rising demand for flexible packaging solutions in healthcare, personal care and cosmetics, and electronics. The report adds that leading manufacturers are focusing on introducing additional functionalities of EVOH films for packaging such as cost-effectiveness and high seal strength, displaying an emerging trend in EVOH films for packaging.

Says a lead analyst at Fact.MR, “Growth of the e-commerce sector is likely to remain a key growth parameter for the EVOH films for packaging market. Along with various types of retail goods, modern consumers are favorably disposed toward the idea of purchasing perishables online, which is creating a high demand for sustainable packaging solutions. EVOH films, when used as a food packaging solution, can successfully retain the properties of food products, such as flavor, freshness, and aroma, preventing it from contamination during shipments. Marquee manufacturers of EVOH films are developing innovative food packaging solutions, such as bag-in-box and pouches for liquid food products, using EVOH films to gain competitive advantages in the EVOH films for packaging market.”