Polyethylene terephthalate (PET) film demand in the packaging market is forecasted to grow 2.4 percent annually to 322 million pounds in 2021, faster than any of the major packaging film resins, according to the Freedonia Group, a Cleveland-based international business research company.
Growth will be driven by rising barrier requirements, particularly in food packaging, according to the Freedonia Group’s “Packaging Films Market in the US” PET’s moderate barrier properties can better address these requirements than other commodity resins at a comparable cost.
The Freedonia Group says PET film demand in food packaging is expected to grow 2.5 percent per year to 219 million pounds in 2021. Meat, poultry and seafood and snack food were the two leading outlets for PET film packaging in 2016, together accounting for 40 percent of demand. In both markets, growth will be stimulated by higher barrier demands, the study notes. Opportunities in the meat, poultry and seafood market include heat-and-eat packaging and retort pouches, and growth areas in snack food include high barrier, transparent pouches for snack nuts and high-end chip and popcorn bags.
However, according to analyst Ellen Kriz, “Growth will be restrained by competition from high barrier resins, such as nylon and PVDC (polyvinylidene chloride), that are well-established in the meat, poultry and seafood market, as well as limited applications in snack food packaging. Most demand for film in snack food packaging derives from polypropylene (PP) bags.”
Packaging Films Market in the US (published July 2017 and numbering 191 pages) is available for $5,300 from The Freedonia Group. More details are available from Corinne Gangloff at 440-684-9600 or at email@example.com.