Fact.MR recently published a market study, which reveals that the EVOH films for packaging market will grow at a healthy 4.7% value CAGR during the period 2018-2028. Demand will remain resurgent from the food and beverages sector, as manufacturers invest in innovative packaging technologies to appeal to wider consumer base of environmentally-conscious consumers. The Fact.MR study remains bullish on the long-term prospects of EVOH films for packaging market. According to the report, EVOH films are highly resistant to oxygen and carbon dioxide, which makes it one of the most preferred choice of packaging materials used in various industrial sectors.
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Global EVOH Film for Packaging Market by Category
By Product Type, Global EVOH Film for Packaging Market is segmented as:
- Blown Film
- Cast Film
By Application, Global EVOH Film for Packaging Market is segmented as:
- Bags & Sacks
- Wrapping Films
- Liquid Packaging Solutions
- Others (Sachets, Bag-in-box, Tubes)
By End-use Industry, Global EVOH Film for Packaging is segmented as:
- Personal Care & Cosmetics
- Others (Building, Construction and Electronics Industry)
EVOH Film for Packaging Gaining Traction in the Industry
Rising demand for organic products that do not make use of any synthetic elements and so are perishable in nature is expected to drive the demand for EVOH films for packaging in the market. Additionally, EVOH is resistant to oil and organic solvents which makes it a right choice to store edibles for longer duration.
Online sales channel is expected to be the preferred choice of consumers to buy EVOH films for packaging. Many companies are focusing on developing their e-commerce sites and company owned websites to increase engagement with consumer on personal level. Key manufacturers are focusing on strategic mergers and acquisitions to appeal to wider range of target audience. For instance,
- Japan’s Kuraray Co. Limited, a company with strong background in fields of polymer chemistry, synthetic chemistry and chemical engineering announced the acquisition of Australian-based Plantic Technologies expert in bio-based barrier materials. Kuraray expects to leverage plantics global sales network in Europe, USA and Asia, to fulfil global demand for packaging with emphasizes on improved freshness, reduced food loss and minimal waste due to use of environmentally friendly material.