Transparency Market Research delivers key insights on the food wrap films Market in its published report, titled “Global Food Wrap Films Market: Industry Analysis and Opportunity Assessment, 2018–2026”. In terms of revenue, the global food wrap films market is estimated to expand at a CAGR of 2.1% during the forecast period, owing to numerous factors, about which TMR offers thorough insights and forecasts in this report.
Food wrap films are used to wrap food products to protect them from contamination, keep food fresh and enhance the shelf life of the food. Food wrap films are generally used for short-term preservation of prepared food. Besides, they are also used to package confectioneries like chocolate and to wrap processed food to keep them fresh for an extended period. Furthermore, food wrap films are used to pack ready-to-eat food.
The global market for food wrap films market is segmented as per material type and end use. The growing demand for on-the-go food and requirement of the increased shelf life of food from the consumers is acknowledged as a critical factor driving the food wrap films market. On the basis of material type, food wrap films are segmented as aluminum, plastic & paper. Among these aluminum type of food wrap films accounts for the most significant share. On the basis of end-use, food wrap films are segmented into retail, food service and food processing. Food service segment is expected to dominate the market share in the forecast period 2018-2026.
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The North America food wrap films market includes country level analysis for the U.S. and Canada. The Canada food wrap films market is anticipated to register higher CAGR during the forecast period as compared to that of U.S. due to the maturity attained by the demand for packaged food in the country. Aluminum is expected to dominate the food wrap films market in North America. Food service is estimated to lead among the end-uses for food wrap films for the forecast period.