The global BOPP bags market is poised to expand at around 2.40 % CAGR between 2024 and 2034. Biaxially oriented polypropylene (BOPP) bags are made from polyethylene which can be biaxially stretched, offering superior durability. With increasing application of BOPP bags in food & beverage, pharmaceutical, and other industries, the sales are projected to surpass USD 1,109.8 million in 2024.
NEWARK, DE / ACCESSWIRE / July 17, 2024 / The BOPP bag market is likely to reach USD 1,109.8 million in 2024. The sales of BOPP bags is anticipated to rise at a moderate CAGR of 2.40% through 2034. The industry is forecasted to hit USD 1,406.8 million by 2034.
The BOPP bag industry is primarily driven by the increasing demand for flexible and lightweight packaging solutions across various sectors such as food and beverage, pharmaceuticals, cosmetics, and agriculture. BOPP bags offer several advantages including high clarity, excellent printability, moisture resistance, and durability, making them suitable for packaging a wide range of products.
Additionally, the growing trend towards sustainable packaging solutions has propelled the adoption of BOPP bags made from recyclable and biodegradable materials, further boosting market growth.
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Despite its widespread adoption, the BOPP bag industry faces challenges such as fluctuating prices of raw materials, particularly polypropylene resin, which directly impacts production costs. Moreover, increasing competition from alternative packaging solutions like paper bags, woven bags, and rigid containers poses a threat to the market share of BOPP bags. Additionally, stringent regulations regarding packaging materials and environmental concerns regarding plastic waste disposal present hurdles for industry players.
The increasing focus on eCommerce and online retailing provides opportunities for BOPP bag manufacturers to cater to the packaging needs of this growing sector. One of the notable trends in the BOPP bag industry is the adoption of advanced printing technologies, such as digital printing and flexographic printing, to create eye-catching designs and vibrant graphics on packaging.
There is a growing demand for BOPP bags with value-added features such as resealable closures, easy-open tear strips, and built-in handles, offering convenience to consumers. Additionally, manufacturers are focusing on developing innovative packaging solutions with enhanced barrier properties to extend the shelf life of packaged products and ensure product freshness.
"The BOPP bag industry presents significant opportunities for growth, especially in emerging markets where there is a rising demand for packaged goods. Manufacturers can capitalize on this by expanding their production capacities, investing in advanced manufacturing technologies, and enhancing product offerings to meet evolving consumer preferences." Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Which are Key Trends Fueling the Growth in BOPP Bags Market?
Growing awareness regarding the pet food and animal nutrition packaging is expected to bolster the growth in the market in the coming years. With growing population, the demand for agricultural products is also spurring, which is likely to create conducive environment for the market.
In addition to this, the printability of high resolution graphics on the BOPP bags is attracting a larger consumer base. This will also help in creating brand awareness, increasing the application of these bags across various industries.
Features such as dimensional stability and water resistance of the bags are projected to increase the commercialization of BOPP bags in the coming years. Further, improved food safety standards and hygiene among the consumers and manufacturers is anticipated to bolster the sales of BOPP bags worldwide.
What are the Factors Hindering Growth in BOPP Bags Market?
According to Future Market Insights (FMI), the high cost of the raw materials, which is almost 60% more than the operational cost, is projected to create a challenge for the incumbents and small manufacturers in the market.
Also, growing concerns associated with the usage of plastics and its impact on the environment is likely to hamper the sales of BOPP bags in the next few years. Furthermore, rising inclination of the consumers toward sustainable packing solutions to reduce the carbon footprint will limit the sales in the market.
Key Takeaways from the Market Study:
The BOPP bags industry in the United States is anticipated to rise at a CAGR of 1.5% through 2034.
The BOPP bags industry in the United Kingdom is projected to rise at a CAGR of 1.1% through 2034.
China's BOPP bags industry is likely to witness expansion at a CAGR of 5.0% through 2034.
Germany's BOPP bags sector to rise with a projected CAGR of 5.9% by 2034.
Japan's BOPP bags industry is anticipated to expand at a CAGR of 1.8% through 2034.
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How will Growth in BOPP Bags Market Unfold in Asia Pacific?
According to FMI, Asia Pacific is anticipated to register fastest growth in the global BOPP bags market during the forecast period. Growing presence of chemical industries and increasing consumption of agricultural products across China and India is projected to boost the market.
Additionally, changing food consumption patterns and rising concerns regarding food safety is expected to create lucrative growth opportunities for the market.
According to the Ministry of the Economy and Finance, the plastic packaging market in India totaled US$ 72.6 billion in FQ-20. Likewise, as per the World Bank, the adoption of single-use disposable plastic increased in India due to low cost of virgin plastics and hygiene concerns. These factors are estimated to create new avenues for the BOPP bags market.
Furthermore, implement of stringent regulations for banning plastics waste imports in China is likely to increase the sales of BOPP bags. For instance, Yum China Holdings Inc. along with the Chinese government are focusing on developing sustainable packaging solutions to reduce plastic waste generations. This is anticipated to offer growth prospects for the market in Asia Pacific.
How will North America Contribute to the Growth in the BOPP Bags Market?
According to FMI, North America is expected to register maximum share in the global BOPP bags market, with the U.S. spearheading the growth in the region.
Growing health awareness and demand for safety of food from microorganisms is projected to surge the sales of BOPP bags in North America. Also, increasing disposable income and growing demand for single-serve meals or on-the-go snacks will boost the demand for BOPP bags.
Competitive Landscape:
The competition outlook in the BOPP bags industry is characterized by a mix of established players and emerging entrants vying for market share. Established manufacturers leverage their extensive experience and infrastructure to maintain dominance, offering a wide range of high-quality BOPP bags tailored to various industries and applications. These companies often focus on product innovation, investing in research and development to introduce advanced features such as enhanced durability, moisture resistance, and customizable printing options.
At the same time, emerging players are disrupting the market with innovative approaches and niche offerings. These companies often target specific market segments or applications, such as food packaging, agriculture, or pharmaceuticals, where demand for BOPP bags is growing rapidly. By focusing on specialized solutions and addressing unmet customer needs, these entrants aim to carve out their niche and gain a competitive edge in the crowded BOPP bags market.
Key Companies in the Market:
United Bags Inc.
Manyan Inc.
LC Packaging
Berry Global Inc.
Umasree Texplast
Cosmos Films Ltd.
Indra Industries Ltd.
Abdos Polymers Ltd.
Hanoi Plastic Bag JSC
Aangan Agrotech Exports Limited
Recent Developments:
In October 2022, Borealis and the Vibac Group developed a BOPP-based food packaging bag for simple sorting in PP recycling. The "V-Fresh" film is made entirely from waste and residue streams, according to Vibac's Bornewables portfolio.
In July 2022, Vacmet India's Dhar facility in Indore introduced its third BOPP bag line. The company's BOPP film capacity has increased to 1,20,000 MT per year, with a 10.4-meter-wide line and a 55,000 MT capacity. After commissioning its third BOPP film machine, the company will be able to supply faster and provide more products.
Toray Industries intended to raise manufacturing capacity for its Torayfan biaxially oriented polypropylene (BOPP) bag at Tsuchiura, Ibaraki prefecture, by 40% by June 2023. The expansion is scheduled to be completed by 2025.
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Key Segments
By Product Type:
Clear
Printed
Metalized
Perforated
By Thickness:
Below 15 microns
15 to 30 microns
30 to 50 microns
Above 50 microns
By End Use:
Food
Meat
Fresh Produce
Confectionery
Dairy
Others
Beverages
Cosmetics & Personal Care
Electrical & electronics
Pharmaceuticals
Other Industrial
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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