Market Overview
The global cavitated film market is estimated to reach at a Significant CAGR during the forecast period (2024-2031).
Cavitated film is a type of packaging designed using BOPP (Biaxially Oriented Polypropylene), PET (Polyethylene terephthalate) and other types of materials available in the market. The packaging is specially designed for the food industry, covering applications ranging from packaging for ice creams, chocolate bars to bottle labels, among other things. This film's main feature is the micro cavitation – tiny cavities created during film manufacture. The goal of cavitated BOPP is to preserve the necessary opacity, mechanical, and printing properties for all packaging types while reducing density and making it lighter. The packaging offers various applications, such as for the production of flexible packaging for products that require protection from UV-light like ice cream, flour, curd products, chocolate, sweets, etc., for the production of cut-and-stack bottle labels in the form of the original film or lamination.
Market Summary
| Metrics | Details |
| Market CAGR | Prominent Growth |
| Segments Covered | By Thickness, By Material, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Increasing demand and consumption of convenience food products include ready-to-eat dry products and frozen foods in various developing regions. Growing adoption and awareness among the consumer towards flexible packaging and its associated benefits as compared to other packaging types in creating immense opportunities for the cavitated films to proliferate in the forecast period
Increasing demand and consumption of convenience food product which includes ready-to-eat dry products, and frozen foods in various developing regions
The convenience food covers factory-made ready meals and soups, and other frozen food products. As per the studies, the market for convenience food is more likely to cover 6% of the global food market, which translates to sales at the retail value of around US$433 billion in 2019 and is expected to maintain the market growth in the forecast period. The region behind the market's growth is due to their ease of use, variety and all-season availability. Also, the Food is convenient for people who cannot spend much time in food preparation and people with little or no culinary skills. Those who cannot hire a cook are also tempted to use convenience foods. Therefore increasing demand for convenience food is triggering the demand for cavitated films in recent times. For food and industrial packaging, cavitated BOPP film is used as a wrap or a laminating film. Cavitated BOPP film is a cost-effective alternative to other BOPP films or plain BOPP film because it has a better slip control feature, a wider seal range, and a higher yield while having a lower environmental impact.
Growing adoption and awareness among the consumer towards flexible packaging and its associated benefits as compared to other packaging types in creating immense opportunities for the cavitated films to proliferate in the forecast period
Any package or part of a package whose shape can be easily altered is called flexible packaging. Bags, pouches, shrink films, tubes, sleeves, and carded packaging are only a few flexible packaging examples. The packaging is widely used in different applications: 3-side-seal pouches, stand-up pouches, gusseted bags, spouted pouches, zipper pouches, vacuum bags, sterilization pouches, micro-waivable pouches, and retort pouches. According to the Flexible Packaging Association, flexible packaging is the fastest-growing segment of the packaging industry in the United States and worldwide (FPA). Cavitation film holds a major portion of flexible packaging due to the increasing demand for convenience food products worldwide. Thud rising demand for flexible packaging and rising awareness among the population towards the advantages of flexible packaging creates immense opportunities for the cavitated film market to grow in the coming tenure. The growing awareness of flexible packaging is more likely to uplift the market share for cavitated film market. For instance as per the studies, in 2019, the total value of the U.S. flexible packaging industry was amounted to roughly 34 billion U.S. dollars, an increase compared to 2018.
Reprocessing and recyclability of cavitated BOPP films are creating immense opportunities for the cavitated film to create to build a larger market in the forecast period.
Brazil holds a large part of waste consisting of packaging and 25,000 tons of waste in garbage dumps. Very rare companies are interested in recycling waste. It became very hard to recycle bioriented polypropylene BOPP plastic commonly used to manufacture flexible and light packaging. BOPP (Biaxial-oriented polypropylene) film has been one of the most successful and high-growth films on the global market in recent years. BOPP film is available in various film types for use in packaging, pressure-sensitive tape, labels, stationery, metalizing, and decorative applications.
Moreover, BOPP can be recycled many times at very low temperatures and consumes very less power while being manufactured. Thus easy recyclability and excellent sustainability of BOPP are more likely to create immense opportunities for the packaging to be used as the first choice in different packaging applications. Increasing demand for BOPP is triggering cavitated films among different end-users, thereby building a greater market share during the forecast period.
COVID-19 Impact Analysis on Market
As the coronavirus epidemic spreads and its humanitarian effect grows, sectors that help meet basic needs, such as getting food and supplies to customers safely, are increasingly impacted. With food packaging being the packaging industry’s largest activity area, the $900 billion per year worldwide industry is on the front lines. The coronavirus outbreak has already resulted in some of the sharpest drops in demand for certain forms of packaging in recent memory while accelerating others' growth—such as packaging for e-commerce shipments, which are quickly becoming lifelines in this new world. Such changes are taken care of by many packaging companies with a new set of challenges. Packaging for groceries, healthcare goods, and e-commerce transportation has seen a significant increase in demand. Demand for industrial, luxury, and some B2B-transport packaging has fallen at the same time. Thus the effect of COVID-19 on packaging companies will be determined by their portfolios and exposure to various areas, packaging end uses, and substrates.
Market Segment Analysis
The global cavitated film market is segmented based on thickness, material, end-user and region.
Convenience food offers various features such as ease of use, variety and all-season availability. Also, the Food is convenient for people who cannot spend much time in food preparation as well as for people with little or no culinary skills; thus, the segment is responsible for building the built the largest business for cavitated films in recent times
In terms of end-users, the global cavitated film market is segmented into food, chocolate, ice-cream, confectioneries, biscuits & snacks, other snacks, soap, personal care, etc. Out of the mentioned types, the confectionaries segment is more likely to build the highest market share for cavitated films.
As per the studies, the market for convenience food is more likely to cover 6% of the global food market, which translates to sales at a retail value of around US$433 billion in 2019 and is expected to maintain the market growth in the forecast period. The region behind the growth of the market is due to their ease of use, variety and all-season availability. Also, the Food is convenient for people who cannot spend much time in food preparation and people with little or no culinary skills. Thus cavitated BOPP (Biaxially Oriented Polypropylene) films are most commonly used in the food industry to manufacture packaging for ice creams, chocolate bars and bottle labels, among other things, as compared to other types of packaging available in the market. The micro cavitation – tiny cavities – generated during film production are the film's main feature. Cavitated BOPP aims to preserve the necessary opacity, mechanical, and printing properties for all packaging types while reducing density and making it lighter.
Market Geographical Share
Increasing consumption and demand of confectionery products, particularly chocolates, biscuits and other snacks, particularly in emerging countries such as China, India and ASEAN countries, is triggering the market of Asia-Pacific cavitated film’s market in the forecast period
The Asia Pacific emerged as a leader in the cavitated film market in recent times. This development is due to the increasing consumption and demand for confectionery products, particularly chocolates, biscuits and other snacks in the region. The market is seen growing particularly in emerging countries such as China, India and ASEAN countries. These food items are predominantly available in different restaurants across the region, and an increase in the preference for flexible packaging solutions is accredited to the growing desire for convenience packaging. Also, changing eating preferences in different regional countries are adding value to the cavitated film market in recent times. Also, escalating the food, pharmaceutical and cosmetic industry on account of enhancing consumer lifestyle dynamics and increasing spending power is creating immense opportunities for the region's packaging industry. The increasing number of the working population in India and China significantly increased product demand for food packaging. Furthermore, the booming e-commerce industry in India and China has substantially propelled the industry growth for tapes. The E-commerce industry essentially requires high-quality tapes for packaging and labelling purposes, which will drive the regional (biaxially oriented polypropylene) BOPP market in the region and directly uplift the market share cavitated films in the Asia-Pacific region.
Market Companies and Competitive Landscape
The cavitated film market is highly competitive and consolidated with the presence of local and global companies. Some of the key players contributing to the market's growth include Max Speciality Film, Jindal Films Americas LLC, Toray Plastics (America), Inc, Cosmo Films Ltd, Yem Chio Co., Ltd, Kristafilms de Mexico SA de cv, Vibac S.p.A, MANUCOR SPA, Guangdong Decro Film New Materials co., ltd, POLİNAS and among others.
The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to the cavitated film market's growth globally. Acquisition and collaboration is the prime growth strategy adopted by various cavitated film manufacturers.
- In June 2020, Innovia Films launched a new family of highly functional recyclable BOPP films- Encore. The packaging is manufactured from renewable non-food-based raw materials, helping to reduce fossil-based virgin raw materials. The Encore packaging and labelling film range aim to offer the same properties as equivalent fossil-based BOPP film, including high clarity and gloss, excellent water vapour barrier, high stiffness, and printability.
Cosmo Films
Overview: The company came into the market in the year 1981 and today is a global leader in speciality films for packaging, lamination, labelling and synthetic paper. The company has partnered with the world's leading F&B and personal care brands and packaging and printing converters to improve the end consumer's experience through the creation of creative products and sustainability solutions.
Product Portfolio: The company has a product portfolio of cavitated film that includes:
TeploR: TeploR was designed to act as a printing layer in multi-layer laminates, allowing mono-material constructions for a variety of packaging applications in the food and non-food segments. The film has outstanding slip characteristics, is machinability, and performs well on VFFS and HFFS machines at high speeds.
Key Development:
- In December 2020, Cosmo Films Ltd., a global leader in speciality films, launched a new transparent printable biaxially oriented polypropylene (BOPP) film called “TeploR," offering higher heat resistance. BOPP films have excellent recyclability; however, most flexible packaging is made with different plastic materials, making it difficult to recycle.
Why Purchase the Report?
- Visualize the cavitated film market segmentation by thickness, material, end-user and highlight key commercial assets and players.
- Identify commercial opportunities in the cavitated film market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of cavitated film market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global cavitated film market report would provide access to an approx: 61 market data table, 58 figures and 180 pages.
Target Audience 2024
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
- Distributors
- Supply chain companies
