Cling Films Market Size to Hit USD 1,886.4 Mn by 2027

An increase in the demand for packaged and ready to eat food escalate cling film market growth at CAGR of 5.2% during 2019-2027

NEW YORK, UNITED STATES, April 6, 2022 /EINPresswire.com/ -- According to The Insight Partners’ research, the global cling films market was valued at US$ 1,203.6 million in 2018 and is projected to reach US$ 1,886.4 million by 2027, expanding at 5.2% CAGR over 2019–2027. Surging demand for packaged & ready-to-eat food and durability and cost-effectiveness of cling films are the key factors credited for this expansion.

Nowadays, young consumers spend most of their income on convenient ready to eat food. An increase in urbanization in developing economies and adoption of on-the-go consumption habits among consumers as a result of their fast-paced lifestyle has boosted the demand for packaged and ready to eat foods. Besides, an increase in the number of single-person households has also facilitated demand for ready-to-eat foods and thus cling films.

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Impact of COVID-19 Pandemic on Cling Film Market

COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of positive cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and material industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.

Cling Film Market: Key Players

Key players contributing to the global cling films market valuation are AEP Industries Inc.; ADEX Cling; Anchor Packaging, LLC; Berry Global, Inc.; Cedo Holdings Ltd; DuPont de Nemours, Inc.; Harwal Group; Intertape Polymer Group Inc.; Molco GmbH; and Multi Wrap (Pty) Ltd.

Cling films also help in maintaining the freshness of food items by preventing water and moisture from coming in contact with them. Additionally, the smooth surface of cling films allows it remain tightly fixed over the opening of the container of packaged food without the use of any adhesives. Cling films also help keep the ready-to-eat food or packaged food articles moist inside the refrigerator and not lead to the loss of flavor or taste. These favorable features of cling films have boosted their demand and thus aided market expansion.

On the other hand, stringent regulatory restrictions and environmental concerns regarding cling films are likely to hinder market augmentation over the analysis timeframe.

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Based on material type, the global cling films marketplace is split into polyethylene, biaxially oriented polypropylene, PVC, PVDC, and others. Among these, the PVC segment held 32.1% of the market share in 2019–2027. The segment was evaluated at US$ 291.44 million in 2018 and is expected to grow at 5.9% CAGR over 2019–2027 to reach US$ 485.69 million by 2027.

Speaking of form, the market sphere is arrayed into cast and blow cling film. Among these, the cast cling film segment captured 71.7% of the market share in 2018. The segment was appraised at US$ 862.92 million in 2018 and is predicted to expand at 5.3% CAGR over 2019–2027 to garner US$ 1,371.06 million by 2027.

As per thickness, the industry is divided into up to 9 microns, 9–12 microns, and above 12 microns. Among these, the 9–12 microns segment held 45.7% of the market share in 2018. The segment was estimated at US$ 549.77 million in 2018 and is projected to augment at 5.1% CAGR over 2019–2027 to accrue US$ 855.07 million by 2027.

Moving on to end user spectrum, the business sphere is fragmented into food industry, healthcare, consumer goods, and industrial. Among these, the food industry segment captured 46.5% of the market share in 2018. The segment was evaluated at US$ 559.87 million in 2018 and is slated to expand at 5.0% CAGR over 2019–2027 to amass US$ 867.22 million by 2027.

From the regional frame of reference, North America accounted for a significant share in the global cling films market in 2018. The region was assessed at US$ 374.8 million in 2018 and is slated to accrue US$ 607.4 million by 2027. Meanwhile, Asia Pacific is estimated to register a stellar growth rate of 6% over the analysis timeframe. The region was evaluated at US$ 254.7 million in 2018 and is projected to be worth US$ 428.2 million by 2027.

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About The Insight Partners

The Insight Partners is a one-stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialists in industries such as technology, media, food & beverages, chemicals & materials, and telecommunication.

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