The India BOPP films are valued at US$ 1,025.10 million in 2019 and are estimated to reach US$ 2515.75 million by 2027, growing at a CAGR of 12.2 % during the forecast period
BOPP films have a sound moisture barrier and a better oxygen barrier than metalized BOPP films. The qualities of BOPP films help in food packaging since they help increase the shelf life of items, decreasing food waste. Aside from the barrier qualities, the low gauge spread of BOPP films ensures consistent seal integrity
Good heat seal strength, a broad sealing window, a reduced seal initiation temperature, and good machinability all add to their value in the food packaging business for food safety. One of the key elements driving the use of BOPP films is their lower carbon footprint compared to other plastic films
In India, due to the low production cost, the players are expanding their manufacturing facilities to fulfill the increasing demand for BOPP. For instance, Cosmo films have announced to boost BOPP manufacturing capacity to 0.035 million tons, which is projected to be marketed by the end of 2020. Jindal Poly Films, meanwhile, will boost its capacity to 0.044 million Tons
Wraps hold a significant market share based on type in India BOPP films market, as they are water-resistant, cost-effective and can print high-resolution graphics on them and they shared market by revenue of US$ 654.83 million in 2019
Based on application, Food and Beverage industries has built the largest market in the Indian BOPP film business with a revenue of US$ 642.53 million in 2019. The packaging of poultry, pork, and seafood is a significant market driver for BOPP films. In addition, the rise in middle-class income is fueling the growth of the e-commerce and retail industries.
Market Dynamics
Drivers
- Growing demand of packaged and ready to eat food
- Tremendously boosting e-commerce market in Indian market
Restraints
- Implementation of stringent regulatory policies
Opportunities
- Rising environmental concerns create opportunities for Bioplastic based on BOPP
- Increasing consumer preference convenient packaging
Growing demand of packaged and ready to eat food
Packaging industry is growing at an unprecedented rate for many decades. The key players’ launch has different packaging materials to overcome all the existing challenges, and reducing environmental impact is one of the prime factors in the packaging industry
In 2018, packaged food retail sales value in India amounted to more than 76 billion US dollars. Since 2012, the value of sales in this industry has consistently increased, with a CAGR of 18% between 2014 and 2018
Furthermore, in 2020, the sales volume of ready meals in the Indian packaged foods market amounted to 118 thousand metric tons. The packaged food segment in the United States that year was dominated by edible oils and dairy products. This impressive number of packaged and ready-to-eat products creates various opportunities for BOPP films to grow in the Indian packaging market in the forecast period
BOPP films have a sound moisture barrier and a better oxygen barrier than metalized BOPP films. These qualities of BOPP films are essential in food packaging since they help increase the shelf life of items, decreasing food waste. Aside from the barrier qualities, the low gauge spread of BOPP films ensures consistent seal integrity
In addition, good heat seal strength, broad sealing window, reduced seal initiation temperature and good machinability contribute to BOPP film demand in food packaging food safety
Rising environmental concerns create opportunities for Bioplastic based on BOPP
Packaging industry has evolved over the past few decades. When it comes to providing packaging solutions that satisfy the needs of the market and its demands for sustainability and cost-efficiency, BOPP film manufacturers of BOPP laminated bags are leading the way
Arrival of bioplastic based on BOPP films comes out to be an alternative to fossil-fuel-based materials. Bioplastics are frequently associated with compostable and biodegradable materials, and they assist in lowering production’s carbon footprint, which can have a substantial impact on sustainability, thereby creating immense opportunities for BOPP based bioplastic in the forecast period.
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