The global BOPP tobacco films market is expected to gain momentum backed by the increasing consumption of cigarettes, according to the upcoming report by Fortune Business Insights, titled, “BOPP Tobacco Films Market Size, 2020-2027.” The report further mentions that the rising packaging industry is projected to boost the demand for advanced BOPP tobacco films globally. Moreover, several companies have launched innovative products that is expected to boost the substantial growth of the market in the forthcoming years. For instance, in December 2019, introduced new film grades for confectionary and tobacco packaging. The films provide enhanced thermal shrinking resistance to facilitate high speed packaging.
The effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
We have segmented the market based on type, application, and region. On the basis of type, the market is segregated into non-shrink, high shrink, and printable shrink. Based on the application, the market is divided into hard pack, soft pack, clear wrap, and bundle wrap. Lastly based on the region, the market is bifurcated into North America, Asia-Pacific, Latin America, the Middle East and Africa, and Europe.
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The global market for BOPP tobacco films report provides in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
Increasing Demand for Cigarettes Worldwide to Favor Growth
According to the World Health Organization (WHO), around 19% of adults globally are addicted to smoking cigarettes. The increasing consumption of cigarettes is expected to propel the demand for advanced BOPP tobacco films for packaging purposes. Additionally, the growing packaging industry is anticipated to surge the demand for recyclable materials such as polypropylene. This factor is likely to bode well for the global BOPP tobacco films market growth in the forthcoming years.
Asia-Pacific – The region is expected to remain at the forefront and hold the highest position in the global BOPP tobacco films market during the forecast period. This is attributable to the easy availability of raw materials required for the production of advanced BOPP tobacco films in the region.
North America – Followed by Asia-Pacific, the region is expected to hold the second position in the market. This is ascribable to factors such as presence of advanced manufacturing facilities that is likely to propel the demand for innovative BOPP tobacco films in the region between 2020 and 2027.
Key Players Focus on Product Launch to Brighten Their Market Prospects
The global market for BOPP tobacco films is witnessing healthy competition between key companies that are focusing on developing and introducing innovative films to expand their product portfolio and further maintain their presence. Moreover, other key players are leveraging the opportunities provided by the market by adopting several organic and inorganic strategies to strengthen their footprint during the forecast period.
March 2020 – Innovia announced the launch of a new BOPP film, RayoFace mBoss. According to the company, the film offers a long-lasting embossing effect on the packaging material.
List of the Companies Operating in the Global Market for BOPP Tobacco Films:
Innovia Films (CCL)
Taghleef Industries Group
Yunnan Energy New Materials Group
Stenta Films (M) Sdn Bhd
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