The cling film market in Europe was valued at US$ 300.53 million in 2018 and is projected to reach US$ 465.95 million by 2027; it is expected to grow at a CAGR of 5.0% from 2019 to 2027.
Durability and cost-effectiveness of cling films is the critical driver for the Europe cling film market. Cling films are highly durable and robust materials that are used for packaging purposes. Durability is one of the critical features of PVC (Polyvinyl Chloride) cling films. The MPE (Metallocene Polyethylene) cling films proffer a combination of toughness and high strength even at low temperatures. The cling films of thickness above 12 microns are moisture-proof, waterproof, and enhanced to protect the packed food items. Thus, cling films are highly preferred as a durable material for packaging and are used worldwide.
Cling films are among the most cost-effective products used as compared to other materials. These are considered to be financially savvy items to ensure products contrasted with different materials. They are cheap and convenient to use. PVC (Polyvinyl Chloride) cling films are cost-effective compared to other materials, such as aluminum foils and wraps, and proffer flexible packaging solutions and boost the products' shelf life. The shrink bundling products in LDPE (Low-Density Polyethylene) cling films minimize the package's overall size and weight, resulting in lowering the shipping costs. The high strength-to-weight ratio of cling films proves beneficial to the manufacturers. A minimal amount of plastic is required to produce a highly functional and flexible packaging material. The manufacturers of cling films need to purchase less material that reduces costs, which ultimately make these films sold at lower prices. The cost-effectiveness of cling films acts as a driver for the cling film market.
Based on the end-user industry, the cling film market is segmented into food industry, healthcare, consumer goods, and industrial. The food industry segment is expected to dominate the Europe cling film market during the forecast period. The food industry has identified the merits associated with the use of cling film as more people are using them daily. The cling films are durable and can hold up against any object for a more extended period. They keep the food clean and secure without any leakage or breakage. Cling films also protect the food items against hazards during storage and distribution or contamination caused due to insects, birds, or rodents. Companies are manufacturing cling films and supplying them at wholesale prices to the retail outlets, making these films available to end consumers at affordable rates.
COVID-19 has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. In Europe, Russia is the hardest-hit country by the COVID-19 outbreak. Russia is anticipated to suffer an economic hit due to a lack of revenue from various industries, as it recorded the highest COVID-19 cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact the market growth in Europe.
The overall Europe 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 Europe 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 Europe cling film market. ADEX Cling, Anchor Packaging LLC, Berry Global Inc., CeDo Ltd, Harwal Group, Intertape Polymer Group, and Molco Gmbh are among the key players operating in the Europe cling film market.