- The key vendors in the packaging film market in APAC 2015-2019 are Amcor Ltd., Avery Dennison Corp., Bemis Co. Inc., FlexFilm Ltd. And SRF Ltd.
London, 01 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the packaging film market in APAC 2015-2019. Emergence of green plastics or biodegradable plastics is one of the major trends upcoming ibn this market. These plastics can be easily decomposed by microorganisms, thereby reducing the toxic effect they have on the environment compared to conventional plastics. They are not necessarily fully made from renewable materials but are plastics made from petrochemicals with biodegradable additives. The packaging film market in APAC is expected to grow at a CAGR of 7.43% during the forecast period of 2014-2019.
A rise in the consumption of F&B products, alcoholic and non-alcoholic beverages, and pharmaceutical products is driving the adoption of packaging film materials in APAC. The esthetic appeal provided by packaging films has ensured their usage in the packaging of luxury products, especially cosmetics and household products.
“High and ultra-high barrier films used in pharma and F&B packs offer more moisture, light, and oxygen protection than low- and medium-barrier films,” says Faisal Ghaus, Vice President of Technavio Research.
“These films include ACLAR films, CFF materials, and some thermoforming films. ACLAR films are gaining increased market share because of the high protection and easy sterilization benefits they offer.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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