Increasing requirements for protective packaging has been driving the cling film market since the recent past. Key players and manufacturers across the globe have been making heavy investments for adopting advanced and innovative technologies, which in turn would help them in cutting through their general product portfolio, thereby expanding customer base. Growing urbanization especially in emerging economies and increasing number of working population is leading to increasing revenue growth in the cling film market.
A recent study has been conducted by Future Market Insights, which estimates that there would be a steady 5.8% CAGR growth of cling film market over the forecast period, 2018-2028. Most importantly, the cling film market is also expected to reach an estimate of US$ 1,924.5Mn by the end of 2028. Evolving effective cling films for the end-users will be considered as a significant trend that progressively influences the market growth for cling film. Apart from this, the study also offers highly productive insights with regards to the growth of global market in the upcoming years.
The analysts who were a major part in the development of report have assured that they delivered significantly valuable information related to the market expansion for cling film through 2028. Furthermore, analysts are also taking immense efforts for catering to the increasing concerns of the market observers and industry backers.
What are some of the most important factors that is fuelling the growth of cling film market?
Well, analysis has displayed that there has been considerable increase in the usage of cling films compared to traditional wrapping methods. Increasing availability of cling films at affordable prices is leading to growing adoption of the product across the globe.
What has been turning out to be a trend in the cling film market?
Well, so far analysis has showed that there has been increasing trend with regards to development of eco-friendly alternatives. Apart from this, there is increasing demand for smart films as well.
What do you think are the manufacturers planning to do for the expansion of cling film market?
Well, analysis has revealed that manufacturers are planning to enter into partnerships or acquisitions with untapped markets, which in turn will expand their customer base as well.
What do you think can be some major factors resulting in hindrances for growth of cling film market?
Research does show that cling film can be really harmful for health due to the heat that exists in the cling film storage box, which in turn increases the possibility of chemicals leakage in the food. This eventually leads to decreasing demand for cling films, thereby hindering the global market growth as well.
What about regional landscape in cling film market? Any useful insight you would like to mention on it?
India and China are witnessing meteoric growth with regards to food retail industry and there is growing trend for adoption of on-the-go or safely wrapped up food consumption. APEJ has been observing significantly high rate of production sales of packaged foods. Key players are finding immense opportunities for business expansion in China and India, especially in the food retail sector.
Can we have the names of few key players in the cling film market?
Yes. Sure. Analysts so far have profiled Pragya Flexifilm Industries, Wrapex Ltd., Benkai CO., Ltd., Anchor Packaging, Linpac Packaging Limited, BFG Packaging S.R.L. and Intertape Polymer Group Inc. amongst others as key players in the cling film market.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2654
