A recent study from Future Market Insights forecasts that the global BOPA films market will witness remarkable opportunities during the coming decade as flexible packaging becomes more popular among consumers. Over the last few years, consumers have rapidly inclined toward flexible packaging owing to its portability and convenience factors such as resealability, microwaveable packaging, easy-open packs, carry-away packs, and longer shelf lives.
BOPA films are suitable for packaging of food products like frozen and cooked food, liquid and viscous food, liquid bag-in-box, fruits & vegetables, which has won them a special place in food packaging amongst most vendors.
Technological advancements in pharmaceutical packaging such as next-generation blister packaging and serializable blood & parenteral nutrition bags made from BOPA films are expected to play a crucial role in demand growth of the market.
Analysts also expect that increased production of a wide array consumer goods will require packaging formats such as single-dose creams and soaps and stand up pouches, which will also open up add to the revenue earned by the market in the coming decade.
The food industry is estimated to be the key end user of BOPA films market and it is poised to account for 2/3rd of the BOPA films global market by 2030
East Asia is estimated to represent an incremental opportunity of $241.4 million by the end of 2030 with presence of major BOPA films manufacturers such as Unitika, Mitsubishi, Toray and others in the region
Significant amount of BOPA films demand is reliant on food packaging industry. The BOPA films are used in the packing of meat & poultry, cheese, frozen food, ready-to-eat foods, fresh fruits and vegetables. Due to COVID–19 outbreak, people are also opting for packaged food items, which has had a short-term positive impact on the market.
Consumers are expected to prefer packaged food due to its limited handling. Furthermore, as the packs can be disinfected and stored, the consumer is likely to spend more on this segment.
On the flip side, the global uncertainty of COVID–19 has impacted the BOPA films market with disruption of production, raw material procurement, and supply to end users. Analysts anticipate that this continue for the next two quarters of 2020.
