The global MOPP packaging films market revenue totaled US$ 204.7 Mn in 2020, according to ESOMAR-certified consulting firm Future Market Insights (FMI). With a favorable demand outlook, the global MOPP packaging films market is expected to reach US$ 367.7 Mn by 2031, growing at a CAGR of 5.2% over the forecast period.
Sales of MOPP packaging films were dampened due to the outbreak of COVID-19 pandemic. However, with expedited vaccine drives and improvements in supply chains, FMI projects steady recovery of the market in 2021, growing at a 4.7% CAGR by volume.
Increasing applications of MOPP packaging films in manufacturing of tapes, wraps and labels is driven by their superior benefits such as high tensile strength and tear resistance.
Not only MOPP packaging films have beneficial mechanical properties, but they are visually appealing and contribute to a product’s aesthetic appeal, becoming an ideal choice of primary and secondary packaging solutions.
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Growing preference regarding eco-friendly packaging alternatives is encouraging advancements in MOPP packaging films market. These films are made from a single material and have high recycled value. As a result, increasing adoption of sustainable solutions in the packaging industry to comply with environment protection initiatives will continue driving sales of MOPP packaging films during the forecast period.
By thickness, above 60-micron MOPP packaging films segment is projected to grow at a 5.6% CAGR through 2031.
Based on application, the labels segment is expected to hold 38.6% of the total MOPP packaging films market share in 2031.
Sales of MOPP packaging films in the food industry are projected to expand at a CAGR of 5.6% during the forecast period.
The U.S. is anticipated to emerge as a lucrative market, accounting for 86.2% of sales in North America by 2031.
Germany is projected to hold 15.8% of the Europe MOPP packaging films market by the end of 2031.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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