The global cellulose films market is driven primarily by the rising demand from the food packaging industry. Cellulose films find widespread application in food packaging due to their moisture-resistant and sustainable properties. They help increase the shelf life of food products and prevent spoilage caused by moisture, microbial growth, and oxygen penetration. Some key advantages of using cellulose films in food packaging include breathability, transparency, printability, grease and oil resistance and ability to form high barrier multilayer structures. With growing health consciousness, consumers are increasingly preferring packaged food products made from eco-friendly materials. Cellulose being a renewable resource extracted from wood pulp or plant waste makes cellulose films a sustainable packaging alternative.
The global Cellulose Films Market is estimated to be valued at US$ 3.5 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:
One of the major trends witnessed in the global cellulose films market is the growing demand for biodegradable and sustainable packaging solutions. Consumers are becoming more aware about the hazards of plastic waste on the environment. This has prompted packaging manufacturers to focus on developing eco-friendly alternatives. Cellulose being a natural polymer breaks down readily without harming the environment. Leading cellulose film producers are enhancing the biodegradability profile of their products to suit the needs of end-use industries ranging from food & beverages to pharmaceuticals and boost sustainability. Rising concerns over plastic pollution are likely to steer the demand for cellulose films in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. High capital requirements for setting up manufacturing facilities pose a barrier.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several established players. Buyers can negotiate on price owing to the availability of alternative products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material suppliers have moderate bargaining power due to the availability of substitutes.
Threat of new substitutes: The threat of new substitutes is low. No direct substitute offers the same functional characteristics as cellulose films.
Competitive rivalry: The competitive rivalry is high due to the presence of numerous international and domestic players. Players compete based on pricing, product development, and marketing strategies.
Key Takeaways
The Global Cellulose Films Market Growth is expected to witness high.
Regional analysis: Asia Pacific accounts for the largest share of the global cellulose films market. China, India, Japan, and South Korea are the major countries contributing to the market growth. Increasing food packaging demand from countries like China and India support market growth.
Key players: Key players operating in the cellulose films market are Futamura Chemical Co., Ltd., Celanese Corporation, Eastman Chemical Company, Hubei Golden Ring Co. Ltd., and Weifang Henglian Cellophane Co. Ltd. Major players focus on new product launches, expansions, and mergers & acquisitions to increase their market share.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it