The global polyvinylidene chloride (PVDC) food packaging market is expected to post a CAGR of more than 6% representing a $187 million increase in value during the period 2019-2023, according to the latest market research report by Technavio (London, England).
A key factor driving the growth of the market is the growth of global plastic films market. Plastic packaging films such as PVDC, ethylene vinyl alcohol (EVOH), and biaxially oriented polypropylene (BOPP) are commonly used in food packaging as shrink or stretch films for wrapping processed food items, meat, fruits and vegetables. When compared with other types of packaging solutions, plastic films packaging like these help manufacturers and retailers to reduce the overall cost of transportation and warehousing.
Two key facts about this market:
- The dairy segment held the largest market share in 2018, accounting for over 34% of the market, and is the end-user segment expected to dominate the global market throughout the forecast period;
- APAC led the market in 2018 with a market share of nearly 38%; this region is expected to dominate the market through 2023.
A downside to PVDC is that the plastic typically ends up in landfills. To overcome this challenge, biodegradable alternatives are being increasingly used as raw materials. For example, polyhydroxy butyrate valerate (PHBV), a bacterially grown polyester with similar properties of PVDC, is one of the bio-degradable packaging films. Starch, polylactic acid (PLA), polyhydroxyalkanoates (PHAs), and cellulose are also the components of PBHV films.
“Biodegradable packaging films such as PHBV provide high mechanical performance during their lifetime as original PVDC films and are completely bio-degradable after the end-of-life,” says a senior analyst at Technavio for research on packaging. “The development of biodegradable and sustainable films is posing a challenge to the vendors operating in the global PVDC food packaging market.”
Companies operating in this market include Caprihans, CCL Industries, Jindal Poly Films, Marubeni Europe and Sealed Air.
Published in December 2018, the 123-page report is available at a $1,000 discount for a limited time only.
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