MOPP Packaging Films Market Size, Analysis & Opportunity | FMI

The MOPP packaging films market is projected to register high demand through 2021, with the overall valuation reaching US$ 221.7 Mn in 2021. FMI also forecasts MOPP packaging films demand to increase at a steady 5.2% CAGR between 2021 and 2031.

Despite restrictions imposed amid COVID-19, MOPP packaging films demand will surge 2021 onwards, albeit gradually. Volume sold globally is expected to total 135.2 Th. tones by the end of 2021.

In 2021, the U.S. MOPP packaging films market is estimated to grow by 7.7% year on year, bucking initial skepticism about how the market would perform during a global pandemic. Across the whole of North America, total sales of MOPP packaging films are predicted to reach US$ 51.7 million in 2021.

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Key Companies Profiled

Futamura Chemical Co., Ltd.
Toray Plastics (America), Inc.
Now Plastics Inc.
Transcendia, Inc.
Monta Klebebandwerk GmbH
Nowofol Kunststoffprodukte GmbH & Co. KG
Lenzing Plastics GmbH Co KG
SJA Film Technologies Ltd.
Hi-Tech International
Duy Khang Packaging Company Limited
Key Takeaways:

By thickness, above 60-micron MOPP packaging films segment is projected to grow at a 5.6% CAGR through 2031.
Based on application, the labels segment is expected to hold 38.6% of the total MOPP packaging films market share in 2031.
Sales of MOPP packaging films in the food industry are projected to expand at a CAGR of 5.6% during the forecast period.
The U.S. is anticipated to emerge as a lucrative market, accounting for 86.2% of sales in North America by 2031.
Germany is projected to hold 15.8% of the Europe MOPP packaging films market by the end of 2031.
India will continue exhibiting high demand for MOPP packaging films over the forecast period, holding 48.7% of the South Asian market share.
North America and Europe currently hold over 53.6% of the total MOPP packaging films market owing to presence of well-established packaging films industry.
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How Will Rapid Growth of the Packaged Food Industry Affect MOPP Packaging Films Sales?

In the past decade, a shift in consumer preference towards packaged food products has been observed. Growing preference towards packaged or ready to eat food in regular meals cab be attributed to fast-paced urban lifestyle and demand for convenient food items.

Apart from this, rising disposable income and improved living standards are chief factors boosting demand for packaged food and ready-to-eat meals. This is translating into high demand for MOPP packaging films, as they are widely used in labels and wraps for the packaging of food products.

Labels and wraps made from MOPP packaging films are commonly used in the food industry as they are suitable for direct food contact as per EU (PIM 10/2011EG) and the USFDA. These labels offer many benefits including high tensile strength, desired texture, and freedom to print a variety of colors. As a result, demand for MOPP labels is anticipated to rise on the back of the rapidly evolving packaged food industry in emerging nations.

Growing Preference for Post-Consumer Recycled and Easily Recyclable Plastic Packaging Products to Drive MOPP Packaging Films Sales

Traditionally, it was not possible to manufacture high-quality packaging films from completely recycled products, but with advancements in technology standard, quality packaging films can be made completely using recycled raw material. This is gaining popularity among a lot of manufacturers, as it helps in significantly reducing the carbon footprint of manufacturers, besides helping them to woo consumers showing inclination for sustainable packaging solutions.

Post-consumer recycled plastic is gaining a lot of traction as it is not only environmentally friendly but also comparatively affordable. The use of recycled plastic decreases the demand for the manufacturing of new plastic resins, which reduces the consumption of energy and fossil fuels compared to the requirement for the manufacturing of virgin plastic.

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MOPP Packaging Films Market by Category

By Thickness:

Below 30 microns
30 to 60 microns
Above 60 microns
By Application:

Labels
Tapes
Wraps
Laminates
By End Use:

Food
Beverages
Cosmetics & Personal Care
Electrical & Electronics
Pharmaceutical
Other Industrial
By Region:

North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania

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This release was published on openPR.