Global Cavitated Films Market – Overview
The global cavitated films market is projected to present leading market players with several lucrative business opportunities. These films have applications primarily in the food industry for packaging chocolates, ice creams, and other snacks. The primary feature of these cavitated films is providing micro cavitation. The market is projected to experience high demand from the packaging sector because of the multi-dimensional conversion properties.
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Global Cavitated Films Market – Notable Developments
The global cavitated films market features a fragmented vendor landscape. This fragmentation is because of the presence of several well-known and established brands operating in the market space. The leading companies in the market are concentrating on expanding their product portfolio and creating an even stronger foothold in the cavitated films market. Thus, large sums of investment has been put into developing new and innovative packaging products that will cater to the growing demand from the end-users.
Another important trend that has been observed in the global market has been of adopting aggressive strategies such as forming joint ventures, strategic alliances, mergers and takeovers. In recent years, there have been a considerable number of mergers and acquisitions in the global cavitated films market.
- Recently, Jindaly Poly Films Ltd., a polyester-based packaging films manufacturer in India, announced that it has successfully acquired Exxon Mobil Chemical’s global BOPP business segment. This deal allowed Jindal Poly Films to acquire five BOPP manufacturing facilities located in Europe and the US. The company is also in serious discussions with DuPont Teijin Films to acquire their European business segment.
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Global Cavitated Films Market – Drivers and Restraints
A number of factors are responsible for driving the growth of the global cavitated films market in recent years. One of the most important growth factor has been the year on year rise in the demand for convenience food. Convenience food products such as confectionary products and snacks have been witnessing a huge demand. This demand is particularly high in developing countries such as China, India, Myanmar, and Vietnam among others. Such increasing demand is expected to fuel the development of the global cavitated films market.
Another important factor that is helping to drive the growth of the global cavitated films market is their low density as compared to other packaging options. Low density of these films enable them to be more cost-efficient than their alternatives and thus is fueling their demand. Furthermore, these films also help in improving the shelf of highly popular food products such as ice creams and chocolates. This too is acting as a key driving factor for the growth of the global market. Increasing consumer awareness towards flexible and sustainable packaging is also working in favor of the market development.
Global Cavitated Films Market – Geographical Outlook
In terms of geographical segmentation, the global cavitated films is divided into five major segments namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these regional segments, North America and Europe have been leading the market in recent years in terms of revenue generation. Highly matured markets in the regions have been the reason behind the development of these regional markets. However, for the give period of forecast, the regional segment of Asia Pacific is projected to show the most promising rate of growth. The development of the regional market is fuelled due to the growing demand for cavitated films from emerging economies such as India and China. In addition to this, other countries in the Asia Pacific region such as Vietnam and Myanmar are also experiencing a solid development in their respective flexible packaging market. This too is expected to help in the growth of the cavitated films market in the region.
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