According to the latest market report published by Transparency Market Research titled “Reclosable films Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018–2026”, easy peel films segment by peel strength is anticipated to be the highest contributors to the global reclosable films market, over the forecast period, 2018-2026. Globally, the revenue generated from sales of reclosable films has been estimated to be over US$ 130 Mn in 2018, and is projected to expand at a CAGR of 7.8% during forecast period 2018-2026.
The demand for reclosable lidding has led to an increase in demand for reclosable films. Reclosable films are used for packaging of food & beverages, pharmaceuticals, personal care & home care, industrial & other products. Moreover, demand for reclosable films in past few years has increased rapidly, resulting in the consumption of flexible reclosable packaging solutions.
Manufacturers of innovative packaging solutions are catering to the demand of the consumers by providing multi-align closures that offer consumer convenience, easy reclosing and are combining with flexible as well as rigid packaging formats that offer product access with full perimeter reseal ability for products like food & beverages, pharmaceuticals, personal care & home care and others.
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The global reclosable films market has witnessed high growth over past few years, due to increase in consumption of flexible lidding. The global reclosable films market has been segmented into material type, peel strength, packaging type, thickness, end use industry and region. By material type, polypropylene (PP) segment is projected to register highest CAGR of 8.4%, in terms of value, during the forecast period. However, by peel strength, easy peel films segment is expected to expand at 1.5x of its current value by the end of 2022. By packaging type, the trays segment is expected to account for the largest share in the global reclosable films market during the forecast period.