by Cellulose films are made from cellulose, which is a naturally occurring polymer derived from plants. Cellulose films are widely used in food packaging applications as they are biodegradable, environment friendly, provide barrier properties and strength. They are used to pack snacks, confectionery items, frozen food and fresh produce. The global cellulose films market offers protection against oxygen, moisture, oil and grease while being transparent. The cellulose films allows the consumers to view the product inside and are suitable for extended shelf life requirements in packaging applications.
The global cellulose films market is estimated to be valued at US$ 823.37 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the cellulose films market is the rising demand for bio-based and recyclable packaging materials. Stringent regulations regarding the use of conventional plastics by regulatory bodies worldwide are encouraging food brands and retailers to switch to sustainable alternatives. Cellulose films provide a green solution as they are made from renewable sources and can be recycled after use. Another trend gaining popularity is the functional properties of cellulose films. Manufacturers are innovating films with additional functionalities like anti-fog, antistatic and oxygen barrier properties to widen their application scope in food packaging, labels and tapes. Innovation and advancements in cellulose film production technologies are also expected to support the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established industry players make it difficult for new players to enter the cellulose films market. The market is dominated by few globally well established players.
Bargaining power of buyers: Buyers have moderate bargaining power in the cellulose films market due to availability of substitutes. However, buyers prefer cellulose films due to advantages over substitutes.
Bargaining power of suppliers: A few raw material suppliers coupled with high switching costs give them higher bargaining power against cellulose films manufacturers. Suppliers can influence prices of raw materials like cellulose.
Threat of new substitutes: Substitutes like polymer films, aluminum foils provide competition. However, cellulose films have advantages like sustainability, printability and renewability, posing low threat of substitution.
Competitive rivalry: The global cellulose films market is moderately competitive due to presence of large multinational manufacturers. Manufacturers focus on new product development, acquisitions and regional expansion to gain higher market share.
Key Takeaways
The global cellulose films market is expected to witness high growth at a CAGR of 12% during the forecast period.
Regional analysis: Asia Pacific dominates the cellulose films market and is expected to grow at the fastest rate during the forecast period led by countries like China, India, Japan, South Korea. Increasing environmental concerns and demand from packaging segment drive the cellulose films market growth in the region.
Key players: Key players operating in the cellulose films market are ATM S.A., Equinix, Inc., Aruba S.p.A., Beyond.pl, EdgeConneX Inc., Virtua Operator, Exea Data Center, Comarch SA, OVH, T-Mobile Polska, SNP Poland Sp. z o.o. Players focus on portfolio expansion and partnerships for business growth in the lucrative cellulose films industry.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
