The cling film market in Asia Pacific was valued at US$ 254.72 million in 2018 and is projected to reach US$ 428.22 million by 2027; it is expected to grow at a CAGR of 6.0% from 2019 to 2027.
Rising demand for packaged and ready to eat food is the critical driver for the Asia Pacific cling film market. Ready to eat food is now considered to be the closest alternative to homemade food and regular food items. It can be consumed at any hour of the day. Growing urbanization in developing economies and adoption of on the go consumption habits among consumers as a result of their fast-paced lifestyle has surged the demand for packaged and ready to eat foods. Besides, an increase in number of single-person households has also augmented the demand for the cling films in Asia Pacific.
The Asia Pacific cling film market is segmented into material type, form, thickness, and end-user industry. Based on material type, the Asia Pacific cling film market is categorized into polyethylene, biaxially oriented polypropylene, PVC, PVDC, and others. The polyethylene segment is expected to be the fastest-growing segment with the highest CAGR during the forecast period. The polyethylene cling film refers to a food film made solely with polyethylene; hence it is 100% recyclable. Polyethylene films are used for wrapping all types of food to ensure freshness. These films are resistant to fog and are very glossy. If a food item containing moisture is wrapped by any other kind of film used for wrapping, water droplets easily get condensed on the surface and loom foggy status that affects the perceptivity and spoils the food item. These polyethylene cling films are supplied in rolls of larger lengths, mainly up to 600 meters, suitable for dispensers used in supermarkets, kitchens, and restaurants. Therefore, the outstanding fog resistance and recyclability property of polyethylene cling films is expected to drive the growth of this polyethylene segment in the Asia Pacific cling film market during the forecast period.
The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemicals & materials is one of the significant sectors suffering severe disruptions, such as supply chain breaks and office shutdowns. India has the highest number of COVID-19 confirmed cases in Asia Pacific. The supply chain is disrupted due to the pandemic, which is hindering the country's chemical and material industry. Besides, the restrictions on overall manufacturing processes and research and development activities are also restraining the growth of the Asia Pacific cling film market.
The overall Asia Pacific cling film market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific cling film market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific cling film market. Anchor Packaging LLC, Berry Global Inc., Harwal Group, and Intertape Polymer Group are among key players operating in the Asia Pacific cling film market.