According to the latest report by Freedonia Group,the demand for pet film in the packaging market is expected to grow by 2.4% by 2021, eventually reaching 322 million lbs, outpacing any other major packaging film growth.
According to ‘the U.S. packaging Film market’, the main driving force is to improve the barrier performance, especially in food packaging. PET has a moderate barrier performance, which makes it more consistent with this requirement than other thin film materials at almost the same cost.
The demand for PET film in food packaging is expected to grow by 2.5% annually by 2021 and eventually to 219 million lbs.Meat, poultry and aquatic products, as well as fast food, were the two markets with the largest output of pet film packaging in 2016, accounting for 40% of total demand.There are opportunities in the meat, poultry and aquatic markets, including the "heating ready-to-eat" packaging and sterilization bag markets, while fast food packaging is also growth areas.
Analyst Ellen Kriz from Freedonia Group said: "Growth will be constrained by competition from high barrier films such as Nylon and PVDC, which have already control the markets of meat, poultry and aquatic.In the fast food packaging, most of the film demand are polypropylene film.