Reclosable Films Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Reclosable Films Market Outlook - 2027

Packaging is an important factor for any industry. Without proper packaging, the safety of the product inside the packaging cannot be ensured. There are various packaging methods or products, which are currently being used by several companies. Customers look for packaging methods, which are convenient and easy to store the products. Many products are packed in a flexible or non flexible packaging, which has reclosable film on the top of that packaging. Therefore, this allows the consumer to make use of the product according to the requirement.

COVID-19 scenario analysis:

• The demand for reclosable films is expected to decrease in 2020 due to low demand from different industries, such as pharmaceuticals and food, due to the lockdown imposed by government of many countries.
• COVID-19 crisis is likely to affect the reclosable films industry negatively as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
• COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
• The requirement of e-commerce specific packaging is likely to remain strong; although the e-commerce companies would have to focus on protection of goods and sanitization of packages. 
• In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products, such as groceries and fresh food, mainly from local e-retail sites. 
• Industrial, transportation, and bulk packaging faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020. 
• Low disposable income of maximum population and weak demand for packaging from industrial goods led the packaging industry to face significant pressure of reduction in both wholesale as well as retail costs. 
• Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services. This is expected to hinder the packaging industry growth in the future after the COVID-19 crisis. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Companies in the packaging industry try to produce packaging solutions according to the preferences of consumers. Consumers look for different things in packaging solutions such as easy reclosing, convenience, durability, and quality. Reclosable films offer convenience and ease, which customers look for in the packaging of products. They are widely used in the packaging of products from various industries such as home care, personal care, pharmaceuticals, and food & beverages. Sometimes, products that come under these industries cannot be consumed in single use. Therefore, reclosable films must be used so that consumer can use the product according to the need and can store that product for further use. Different forms of reclosable packaging, such as pouches, bags, cups, and trays, are available in the market.

The company selects the form of reclosable packaging according to the type of product to be packed. 

The demand for packaged food products is increasing immensely across the globe. For packing of food products, plastic packaging is widely used. In the food & beverages industry, to increase the shelf life of packaged product, flexible plastic packaging is commonly used. Reclosable film is used on the top of this packaging. There are various materials, such as Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), and Pressure Sensitive Adhesives (PSA), used to produce reclosable films. Packaging of various food & beverages products, such as butter, cheese, snacks, and fruit juices, contains reclosable film so that they can be stored after use. Reclosable films are also used in the pharmaceutical industry on the top of packaging of different pharmaceutical products such as nasal sprays, ear drops, and eye drops.

Considering the increase in consumption of packaged food in different countries across the world, companies are trying to provide easy usage for packaged food to customers. Therefore, the use of reclosable packaging is expected to rise during the forecast period. Additionally, reusable films can be used on the top surface of any kind of packaging such as rigid as well as flexible. This can be used in many industries, which consist of different packaging methods.

Mergers and acquisitions in the packaging industry

Many companies in the packaging industry have been involved in different mergers and acquisitions to get competitive advantage over other players in the market. For example, in March 2018, Constantia Flexible, one the key players in the packaging industry, acquired India-based film laminates manufacturer Creative Polyback Limited. It produces flexible packaging for the home & personal care industry and the food industry. Further, in February 2018, Berry Global Group, the U.S.-based manufacturer of plastic packaging products collaborated with Spinlace Technology.

Key benefits of the report:

• This study presents the analytical depiction of the reclosable films market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the reclosable films market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed reclosable films market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Reclosable Films Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights