Global Cellulose Films Market Is Estimated To Witness High Growth Owing To Increasing Demand for Eco-friendly Packaging Solutions
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Cellulose Films Market |
The
global cellulose films market is estimated to be valued at US$ 745.4 million in
2021 and is expected to exhibit a CAGR of 5.1% over the forecast period
2022-2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Cellulose films are derived from cellulose, a natural polymer widely found in
plant cell walls. These films are transparent, biodegradable, and possess
excellent barrier properties against moisture, oxygen, and other gases. The
growing concerns regarding environmental sustainability and the increasing
demand for eco-friendly packaging solutions are driving the market growth for
cellulose films. These films are widely used in packaging applications,
including food and beverages, pharmaceuticals, personal care, and others, due
to their biodegradable nature and ability to extend product shelf life.
Market Key Trends:
One key trend observed in the Cellulose
Films Market is the increasing adoption of compostable and
biodegradable packaging solutions. With the rising environmental concerns and
stringent regulations on plastic waste management, consumers and industry
players are shifting towards sustainable packaging materials. Cellulose films
offer an excellent alternative to traditional plastic films as they are
compostable, biodegradable, and can be easily recycled. For example, Eastman
Chemical, a key player in the market, offers Eastman Naia™ Renew, a
biodegradable cellulose acetate yarn made from renewable wood pulp.
PEST Analysis:
Political: The government regulations promoting sustainable packaging practices
and the ban on single-use plastics in several countries are driving the demand
for cellulose films.
Economic: The increasing disposable income and changing consumer preferences
towards sustainable products are boosting the market growth.
Social: The growing awareness about environmental sustainability and the
preference for eco-friendly packaging solutions among consumers are key social
factors impacting the market.
Technological: Advancements in film manufacturing technologies, such as
bio-based films and nanotechnology-based films, are driving innovation and
expansion of product portfolios.
Key Takeaways:
- The global cellulose films market is expected to witness high growth,
exhibiting a CAGR of 5.1% over the forecast period, due to increasing demand
for eco-friendly packaging solutions.
- The Asia-Pacific region is expected to be the fastest-growing and dominating
region in the cellulose films market. This can be attributed to the rapidly
growing population, rising disposable income, and increasing awareness about
sustainable packaging practices in countries like China and India.
- Key players operating in the global cellulose films market include Eastman
Chemical, Futamura Group, Innovia Films, FkuR, Sateri, Celanese Corporation,
China Lucky Film Corp., Chengdu Huaming Cellophane Co., Ltd, Ningbo Jiangdong
Credit, Shaoxing Chunming Cellulose Film Co., Weifang Henglian Films Co,
Zhejiang Koray New Material Co., Ltd., INTERPLEX INDIA PRIVATE LIMITED, IPI
GmbH, and Rengo Co., Ltd.
In conclusion, the global cellulose films market is poised for significant
growth due to the increasing demand for eco-friendly packaging solutions. The
adoption of compostable and biodegradable packaging materials and the stringent
regulations on plastic waste management are key factors driving market growth.
The Asia-Pacific region is expected to witness the highest growth in the
market, driven by the growing population, rising disposable income, and
increasing awareness about sustainable packaging practices. Key players in the
market are focusing on product innovation and expansion to cater to the growing
demand for cellulose films.
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