PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1394116
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1394116
A recent study by Fairfield Market Research has reported that the global BOPP (Biaxially Oriented Polypropylene) for labels market achieved an impressive revenue of approximately US$ 20 billion in the year 2024. The market is expected to witness robust growth reaching an estimated market valuation of around US$ 30 billion by the year 2031.
BOPP films have gained prominence in various sectors, including laminating, labeling, and packaging, owing to their natural salability, exceptional clarity, moisture barrier properties, image reproduction capabilities, and extended shelf life. These attributes make BOPP the preferred substrate for food packaging globally. BOPP bags and pouches, known for their cost-effectiveness, recyclability, and environmental friendliness, are becoming increasingly popular. Their high aesthetic appeal also adds an advertising dimension to packaged goods.
The rapid growth of the BOPP for labels market can be attributed to the high adoption of BOPP by manufacturers across various industries. Label printing businesses are expanding their offerings to meet evolving customer needs and grow their operations. Recent advancements in analog and digital print technology have facilitated this expansion.
The demand for food packaging is on the rise, especially in Europe, where key food items such as meat, fresh fruit, confectionery, tea, and coffee drive substantial market share. BOPP is the material of choice for many food-packaging companies due to its superior endurance, printability, clarity, and display capabilities. Additionally, BOPP usage in packaging tobacco products has seen significant growth, and this trend is expected to continue in the coming years.
The global packaging industry is witnessing a high level of consolidation activities, driven by the need to tap into untapped markets and formulate long-term strategies for survival in a competitive landscape. For example, Jindal Poly Films Ltd., an India-based manufacturer, acquired the global BOPP business of Exxon Mobil Chemical. This strategic move expanded production capacity and positioned Jindal Poly Films Ltd. as a leading BOPP film producer globally.
The demand for high barrier flexible packaging solutions has led to increased competition, with materials such as EVOH, PVdC, PA, PEN, and MFC being used as barrier materials. High-barrier coatings are also gaining popularity, and a combination of high barrier films and coatings is employed for ultra-high barrier protection. Barrier properties have become essential for product differentiation and brand identity in a competitive market.
BOPP's low density results in increased yield compared to films made from other polymers, making it a cost-effective choice. The demand for high moisture barrier packaging films is growing, particularly for food products with extended shelf lives. BOPP's versatility and suitability for various applications, including VFFS and HFFS packaging, are contributing to rising demand in the packaging industry.