Food wrap films
are used to wrap food products to protect them from contamination, keep
food fresh and enhance the shelf life of the food. Food wrap films are
generally used for short-term preservation of prepared food. Besides,
they are also used to package confectioneries like chocolate and to wrap
processed food such as meat & sea-food to keep them fresh for an
extended period. Furthermore, food wrap films are used to pack
ready-to-eat food items.
The global market for food wrap films is
segmented as per material type and end use. The growing demand for
on-the-go food and requirement of the increased shelf life of food items
from the consumers is acknowledged as a critical factor driving the
food wrap films market. The increase in demand for food service across
the globe is expected to fuel the growth of global food wrap films
market.
Aluminum-based food wrap films segment is
estimated to dominate the global market with largest market share in
the global food wrap films during the forecast period 2018-2026.
Aluminum-based food wrap films are anticipated to have the high
penetration in food wrap films market of APAC and Latin America.
However, aluminum-based food wrap films are estimated to lose the market
share in the food wrap films market of North America and Europe because
of the maturity achieved by the demand of aluminum-based food wrap
films in the geographies.
Plastic-based food wrap films are
projected to register the highest CAGR by the end of forecast period.
Plastic segment is expected to produce better incremental revenue
opportunity in the global food wrap films market share in the forecast
period. MEA and North America are estimated to have the most significant
plastic based food wrap films consumption. Plastic food wrap films have
lower cost as compared with aluminum and paper food wrap films.
Paper-based food wrap films have a
smaller value share in the global food wrap films market and will
continue to have the lowest share in the forecast period. Paper-based
food wrap films are expected to have the highest demand in the food wrap
films market of MEA. Latin America and APAC are estimated to have the
least share of paper-based food wrap films during the forecast period.
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