Global Cast Films Market- Market Overview:

The global cast films market is expected to grow from USD 75.1 billion in 2022 to USD 107.6 billion by 2030, at a CAGR of 4.6% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising product innovations and high demand among the food packaging and processing sector.

A cast film is produced by extruding polymers that are then melted in a cast to form a thin film sheet. This thin film sheet is pinned onto a cooled roll with the help of air or a vacuum box, and the thin film is cooled during this process. In contrast to the blown process of film production, this is a highly efficient method. Food and pharmaceutical industries are primarily reliant on cast films as flexible packaging solutions, as they provide a long shelf-life, attractive packaging, and brand visibility. With their high clarity, gloss, and seal strength, general cast films are widely used for candy and confectionary packaging. This segment is growing due to the increasing use of heat resistance packaging products. With its multifunctional properties, general cast film finds high market acceptance on the global market. Furthermore, the changing eating habits of the millennial population, which consume packaged food and drinks, is expected to drive demand for bags, wraps, and pouches, which will drive the market for cast films. According to the United Nations Food and Agriculture Organization, one third of food produced for human consumption is wasted. The use of cast films extends the shelf life of food products and allows them to travel to their targeted customers while maintaining quality and effectiveness. It is a packaging material for food, pharmaceuticals, apparel, and others that is manufactured through casting.

Sample Request: - Global Cast Films Market

Market Dynamics:

Drivers:                          

• Rising demand for multilayer pouches

With consumers' moving towards smaller serving sizes, especially for food and beverages, lightweight packaging is becoming increasingly important. The use of cast films in manufacturing packaging such as pouches in the upcoming years is likely to increase as a result of increasing consumer demand for compact packaging and convenience.

Restraints:         

• Rising environment safety concerns

The market is witnessing immense growth but there are some factors which are limiting the growth of the market such as rising environment safety concerns. Changing customer tastes and the usage of plastics in different regions will restrict the market's growth. Paper packaging is expected to be preferred over non-biodegradable packaging in the future.

Opportunities:

• Increasing product innovation

The rise of several product inventions will boost market prospects for new growth rates, and increasing innovations leading to unique attributes such as anti-counterfeiting will spur the growth of the market. Continuous innovations by major key players in the products will attract more consumers which will propels the market growth as well as increases the sales.

Challenges:

• Stringent regulations

It is expected that the growth of the market will be restricted by the increasing prevalence of stringent regulations governing plastic usage across different regions, as well as a shift in consumer preferences, which will result in a higher demand for paper-based packaging solutions over non-biodegradable ones.

Segmentation Analysis:

The global cast films market has been segmented based on material type, application, packaging format, and region.

By Material Type

The material type segment includes polyethylene, polypeptide, polyamide, and others. The polyethylene segment led the largest share of the cast films market with a market share of around 33.4% in 2022. The polyethylene segment dominated the market, with a market share of around 28.5% in 2021, primarily used for packaging products. They are manufactured from a mixture of different phases of polypropylene. The laminations are available in a variety of types, such as twist wrap, metastable, and others, and can be used for various purposes.

By Application

The application segment includes food & beverages, agriculture, architecture, stationery, medical & pharmaceutical, textile, and others. The electric segment led the largest share of the cast films market with a market share of around 27.3% in 2022. With a market share of around 20% in 2021, the food & beverage segment will dominate the market. As the food & beverages sector grows, the packaging industry will push the CPP to need over the projected time period. Development economies will face an increased need for packaged food as a result of the changing way of life and increasing per capita income. By Packaging Format

The packaging format segment includes bags, laminates, labels & pouches, and wraps. The wraps segment led the largest share of the cast films market with a market share of around 38.6% in 2022. The wrap segment accounted for 33% of the market share in 2021, with a revenue of 2635.9 million. The changing eating habits of most of the population, including the use of packaged food and drinks, are expected to increase the demand for wraps, which will lead to a growth in this segment.

Global Cast Films Market- Sales Analysis.

The sale of cast films expanded at a CAGR of 3.8% from 2016 to 2022.

Flexible packaging solutions, such as cast films, are commonly used in the pharmaceutical and food industries since they offer attractive packaging, long shelf-lives, and label visibility. Additionally, the changing eating habits of the youth population, like consuming packaged food and drinks, will increase the demand for bags, wraps, and pouches, which will drive the market growth of cast films.

In addition to offering remarkable benefits like superior wear and tear and impact resistance, cast films have shown a remarkable potential for growth as a result of the rise in consumer goods packaging. Pharmaceutical companies also use cast films to pack pharmaceuticals to prevent damage and contamination during transport.

Also, a rise in disposable income and urbanization will push market value upward, and consumers are constantly changing their lifestyles and the retail sector is growing. The market is likely to expand as consumers become more aware of eco-friendly and biodegradable packaging materials, as well as the demand for packaged and processed food products.

Thus, owing to the aforementioned factors, the global cast films market is expected to grow at a CAGR of 4.6% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the cast films market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the cast films market and held a 38.7% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. Due to a growing number of start-ups and small businesses seeking to expand their position in the global cast film market, Asia-Pacific dominates the cast film market. Despite their lack of competition with the industry's front runners, newly established firms and developing companies are expanding their production capabilities to establish themselves in Asia-Pacific.
• North America is anticipated to experience significant growth during the predicted period. There is high demand for lightweight packaging products and cast films in North American retail sectors, which is expected to make this region one of the fastest developing regions. Flexible packaging is driving market growth owing to the growing textiles, pharmaceuticals, and food & beverage industries. In addition to the strong presence of food and beverage manufacturers in the region, rising demand for prepacked & healthy food items is propelling product demand.

Global Cast Films Market - Country Analysis:

• Germany

Germany's cast films market size was valued at USD 5.6 billion in 2022 and is expected to reach USD 8.08 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.

As the food & beverage packaging industry in Germany grows, the market demand for casting films is boosting. Flexible packaging is a key factor driving the country's proliferating casting films market. Combined with its unique properties of transparency and barrier to external environments such as oxygen and moisture, as well as its non-reactive nature with the materials within, casting films have been increasingly used to package foods and cosmetics in hygienic environments.

• China

China’s cast films market size was valued at USD 7.5 billion in 2022 and is expected to reach USD 10.9 billion by 2030, at a CAGR of 4.9% from 2023 to 2030.

During the Projection period, packaged food consumption is expected to rise as a result of changing lifestyles, which will increase the demand for cast films. Cast films offer a number of benefits, thus increasing market growth opportunities.

• India

India's cast films market size was valued at USD 5.8 billion in 2022 and is expected to reach USD 8.43 billion by 2030, at a CAGR of 4.8% from 2023 to 2030.

In India, the demand for cast films is likely to be boosted by the growing food processing and packaging industry. Growing urbanization, changing consumer lifestyles, and increased consumer spending capacity are the leading factors driving the demand for food packaging products, further expanding the market.

Key Industry Players Analysis:  

To increase their market position in the global cast films market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Profol GmbH
• Copol International Ltd.
• UFlex Limited
• CLONDALKIN GROUP
• Paragon Films
• Bischof + Klein SE & Co. KG
• Berry Global Inc
• Alpha Marathon Film Extrusion Technologies Inc
• TAGHLEEF INDUSTRIES GROUP
• Bemis Manufacturing Company
• Manupackaging UK Ltd
• Scientex Berhad
• Panverta Cakrakencana
• ObenGroup
• Inteplast Group

Latest Development:

• In January 2021, in order to promote the growth of the functional cast polypropylene film market in India, DIC established a partnership with Jindal Poly Films Limited, the largest biaxially oriented polypropylene (BOPP) film manufacturer in India; both companies have signed a contract to collaborate.
• In July 2019, As part of its business division, the “AmTopp Division” of the Intraplast Group has expanded its production capacity by expanding cast film extrusion lines at its facility in the US, increasing its stretch film capacity by 60 billion pounds.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	4.6%
Market Size	75.1 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Material Type, By Application, By Packaging Format, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Profol GmbH, Copol International Ltd., UFlex Limited, CLONDALKIN GROUP, Paragon Films, Bischof + Klein SE & Co. KG, Berry Global Inc, Alpha Marathon Film Extrusion Technologies Inc, TAGHLEEF INDUSTRIES GROUP, Bemis Manufacturing Company, Manupackaging UK Ltd, Scientex Berhad, Panverta Cakrakencana, ObenGroup, and Inteplast Group.
By Material Type	Polyethylene Polypeptide Polyamide Others
By Application	Food & Beverages Agriculture Architecture Stationery Medical & Pharmaceutical Textile Others
By Packaging Format	Bags Laminates Labels & Pouches Wraps
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Cast Films Market by Material Type:

• Polyethylene
• Polypeptide
• Polyamide
• Others

Global Cast Films Market by Application:

• Food & Beverages
• Agriculture
• Architecture
• Stationery
• Medical & Pharmaceutical
• Textile
• Others

Global Cast Films Market by Packaging Format:

• Bags
• Laminates
• Labels & Pouches
• Wraps

Global Cast Films Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia