BOPE has the advantages of heat sealing, tensile strength, impact strength and tear strength of polyethylene film, and at the same time has the characteristics of transparency, gloss, tensile strength and stiffness of polypropylene film. This feature reduces the amount of packaging material and enhances the strength of the bag.
BOPE film has higher tensile strength and better impact strength than PE film. BOPE is more transparent than PE film and has higher gloss. BOPE film can replace PE film, thickness is reduced by 50%, cost is reduced.
Due to its various advantages the market for India BOPE film is expected to grow with a CAGR of 16.68% during the forecast period. India BOPE films market value is likely to reach USD 3,151.22 thousand in 2027, from its recorded value of USD 970.67 thousand in 2019.
The market trend is predicted to gain traction in the anticipated years due to the fact that BOPE films are more flexible and enable faster packaging with advanced sealing properties, compared to other packaging materials.
The India BOPE film market is primarily driven by rising demand of flexible packaging. The driving force for flexible packaging are factors such as the increase in demand for convenient packaging needed in the food & beverages and pharmaceutical industries. And the other factor for the growth of BOPE film market is the rising demand for the food packaging such as meat, fruits & vegetables and others.
BOPE films are considered to be the barrier films substrate for food packaging, offering inherent moisture barrier properties, sealability, high clarity, and graphic reproduction and shelf appearance.
HD-BOPE films accounted for the highest market revenue share of 47% in the year 2019. By end-user, food packaging accounted for the highest market revenue share of 67% in the year 2019.
Market Dynamics
Drivers
- Rising demand for food packaging with increased focus on innovative and cost effective packaging materials
- Growing demand of processed meat and fish with surge in consumption, production and export from India
Restraints
- Fluctuation in raw material prices and huge capital investment requirement
- Impact of environmental regulations on BOPE film manufacturing
Growing demand of processed meat and fish with surge in consumption, production and export from India
BOPE films are used for the manufacturing of pouches, bags, laminates, labels and tapes for which are further used in the packaging of fresh produce, meat, fish, confectionery, and dairy products. BOPE films are preferred for packaging meat and fresh fish products to enhance the shelf life, as they have high temperature barrier, excellent heat resistance and sealing properties.
Further growing meat and fish production in India drives the demand for BOPE films for increasing shelf life. According to the Food & Agriculture Organization of the United Nations, in India total meat production has reached 7.256 million tons in 2018 and 8.11 million tons in 2020. Thus to store such huge amount of meat, the demand for BOPE films has been increased astoundingly in India
Further India is the source of huge livestock and poultry, which plays a vital role in improving the economic condition of the country in rural areas. According to the Indian Council of Food & Agriculture Organization, in India there are around 65.07 million sheep, around 300.00 million bovines, 135.2 million goats and about 10.3 million pigs as per 19th Livestock Census in the country. This propels the demand for meat production in the country which ultimately enhances the BOPE market.
Further India is the largest exporter of the meat. As per the Indian Bioscience Organization in 2018, India has exported around 1.2 million tonnes of meat which propels the demand for BOPE films for packaging to enhance the shelf life
Further increasing fish production and exporting from India has impelled the demand for BOPE packaging for storing and enhancing the shelf life of the fish. For instance in 2017 as per the FAO UN fish production has been reached to around 11.6 million tons and during 2017-18 the volume of fish and fish products export has been reached to around was 1.37 million tons worth around US$ 6,132 million
Competitive Landscape
The India BOPE films market is highly consolidated with the presence of a limited number of international and national companies across India. The market is at a very early stage of development. Product innovation along with expansion by increasing the manufacturing capacity is one of the key strategies of the players. The key players are increasing production capacity to combat India's food packaging demand in order to stay ahead among competitors.
The most active companies in India are Dow Chemical Company, Vora Packaging Private Limited, Jindal Poly Films Limited and Max Speciality Films among others. The manufacturers are focusing on expanding and introducing new products according to the end user demands preferences.
For instance, in July 2020, Dow introduced INNATE TF Polyethylene Resins for Tenter Frame Biaxial Orientation. The TF-BOPE film made with INNATE TF Polyethylene Resins for Tenter Frame Biaxial Orientation has higher mechanical properties and material rigidity, better optical and printing performance, and offers considerable sustainability advantages, including the potential for all-PE structures for recyclability.
In September 2020, Sabic launched a sustainable packaging solution specially designed for frozen food. The product combines a new polyethylene (PE) grade with innovative film production technology and offers significantly higher throughput and potential for down-gauging as compared to conventional blow PE film solutions.
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