Cellulose Films Market Propelled By Rise In Demand For Sustainable Packaging Solutions
Cellulose films are made from natural polymers obtained from wood pulp. They are used as biodegradable and compostable substitutes for plastic films in food packaging and labels applications due to their excellent barrier and printability properties.The global Cellulose Films Market is estimated to be valued at US$ 1.2 billion in 2024 and is expected to exhibit a CAGR of 28.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The increasing demand for sustainable packaging solutions owing to stringent government regulations regarding the use of single-use plastics is a major factor driving the growth of the global cellulose films market. Cellulose films break down naturally and do not require additional composting like conventional plastic films. Their biodegradable nature make them an environmentally-friendly alternative to plastic films. This is expected to boost the adoption of cellulose films across various end-use industries like food and beverage and personal care over the forecast period.
SWOT Analysis
Strength: Cellulose films have strong barrier and moisture resistant properties making them suitable for food packaging applications. They are renewable and biodegradable in nature. Being low permeable to water vapors and gases, cellulose films are able to maintain the quality and freshness of packaged food items for a longer duration.
Weakness: Cellulose films have high production costs compared to petroleum-based plastic films. Their moisture sensitivity makes sealing and printing operations challenging. There are fewer manufacturing units for cellulose films globally leading to supply issues at times.
Opportunity: Rising awareness about environmental hazards of single-use plastics is driving demand for sustainable packaging films. The food industry is actively seeking eco-friendly packaging solutions to meet sustainability goals. Growing focus on reduced carbon footprint can boost adoption of cellulose films in food, pharmaceutical and electronics applications.
Threats: Strict environmental regulations on plastics and policies encouraging use of renewable materials provide growth opportunities for cellulose films market. However, availability of alternative bio-based and recyclable films poses competition. Fluctuations in raw material prices impacts the overall production cost of cellulose films.
Key Takeaways
The Global Cellulose Films Market Share is expected to witness high.
Key regional market in Europe and North America is also gaining traction due to stringent government policies against single-use plastic and focus on sustainability. Major players are expanding their manufacturing facilities in these regions to cater to growing demand.
Key players operating in the cellulose films market are Futamura Chemical Co. Ltd, Celanese Corporation, Hubei Golden Ring New Materials Tech Ltd, Eastman Chemical Company and Weifang Henglian Cellophane Co. Ltd. They are focusing on new product development, acquisitions and partnerships to strengthen market presence. For instance, Eastman Chemical Company introduced moisture barrier cellulose film for food packaging in 2021.
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