The EVOH resins market for food application was valued at US$ 576173.9 million in 2021 and is projected to reach US$ 770199.9 million by 2028. It is expected to register a CAGR of 4.4% from 2021 to 2028.
The increasing application of EVOH resins in food packaging has significantly anticipated demand for EVOH. EVOH resin manufacturers are exploring new and innovative designs for consumer convenience. Key manufacturers are utilizing consumer inclination toward sustainable packaging to develop new products.
Packaging convenience is a key purchasing motivator for consumers. It affects their preference toward type or packaging designs and influences consumer behavior. Consumers demand diversity in terms of product types and package sizes. The attractive, safe, and functional packaging offers comfort to consumers.
Further, consumers are increasingly inclined toward green, low-carbon products to eliminate waste pollution. EVOH packaging is eco-friendly as it has a low carbon footprint and can be easily recycled. Unlike plastic and paper containers, it does not produce waste and does not need wood cutting for raw materials. These benefits increase the demand for EVOH resins for eco-friendly food packaging, boosting the EVOH resins market for food application.
In 2021, Asia Pacific held the largest revenue share of the EVOH resins market for food application. There has been an increasing demand for packaged food products, indirectly driving the EVOH resins demand for food packaging applications, and further manufacturers are investing in sustainable packaging. Due to the high demand for healthy foods, many beverage industries are starting to produce organic and non-alcoholic juices to reach health-conscious consumers. This factor will contribute to the growth of sustainable packaging for food packaging applications over the next few years.
With rising instances of food contamination, manufacturers are using safe packaging materials for their products. EVOH resins for packaging has antistatic properties, which ensure that dust particles in the atmosphere do not settle down on the packaging to prevent the contamination and growth of microorganism. Also, more players entering the market will stimulate EVOH resins market for food application growth. The demand for healthy packaged food products has also inclined the manufacturers to focus on producing eco-friendly packaging, which does not interact with food products, thus, contributing to the value-addition of the product.
In addition, during the pandemic, top packaged food companies identified new consumer behavior changes that could impact product innovation and development in the food packaging sector, which will create lucrative opportunities for the EVOH resins market over the next few years.
Kuraray Europe GmbH; Nippon Gohsei (UK) Limited; Kureha Europe BV; Chang Chun Group; Eval Europe NV; Soarus L.L.C. (Mitsubishi Chemical Europe GmbH); Schur Flexibles GmbH; Gantrade Corporation; The Compound Company BV; Soarnol; Arkema; Solvay SA; are a few of the major players operating in the EVOH resins market for food application. Key companies are focusing on strategies, such as R&D investments and new product launches. They develop high-quality and innovative products to fulfill the customers’ requirements.
The overall EVOH resins market for food application 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. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights . The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the EVOH resins market for food application.
The increasing application of EVOH resins in food packaging has significantly anticipated demand for EVOH. EVOH resin manufacturers are exploring new and innovative designs for consumer convenience. Key manufacturers are utilizing consumer inclination toward sustainable packaging to develop new products.
Packaging convenience is a key purchasing motivator for consumers. It affects their preference toward type or packaging designs and influences consumer behavior. Consumers demand diversity in terms of product types and package sizes. The attractive, safe, and functional packaging offers comfort to consumers.
Further, consumers are increasingly inclined toward green, low-carbon products to eliminate waste pollution. EVOH packaging is eco-friendly as it has a low carbon footprint and can be easily recycled. Unlike plastic and paper containers, it does not produce waste and does not need wood cutting for raw materials. These benefits increase the demand for EVOH resins for eco-friendly food packaging, boosting the EVOH resins market for food application.
In 2021, Asia Pacific held the largest revenue share of the EVOH resins market for food application. There has been an increasing demand for packaged food products, indirectly driving the EVOH resins demand for food packaging applications, and further manufacturers are investing in sustainable packaging. Due to the high demand for healthy foods, many beverage industries are starting to produce organic and non-alcoholic juices to reach health-conscious consumers. This factor will contribute to the growth of sustainable packaging for food packaging applications over the next few years.
With rising instances of food contamination, manufacturers are using safe packaging materials for their products. EVOH resins for packaging has antistatic properties, which ensure that dust particles in the atmosphere do not settle down on the packaging to prevent the contamination and growth of microorganism. Also, more players entering the market will stimulate EVOH resins market for food application growth. The demand for healthy packaged food products has also inclined the manufacturers to focus on producing eco-friendly packaging, which does not interact with food products, thus, contributing to the value-addition of the product.
In addition, during the pandemic, top packaged food companies identified new consumer behavior changes that could impact product innovation and development in the food packaging sector, which will create lucrative opportunities for the EVOH resins market over the next few years.
Kuraray Europe GmbH; Nippon Gohsei (UK) Limited; Kureha Europe BV; Chang Chun Group; Eval Europe NV; Soarus L.L.C. (Mitsubishi Chemical Europe GmbH); Schur Flexibles GmbH; Gantrade Corporation; The Compound Company BV; Soarnol; Arkema; Solvay SA; are a few of the major players operating in the EVOH resins market for food application. Key companies are focusing on strategies, such as R&D investments and new product launches. They develop high-quality and innovative products to fulfill the customers’ requirements.
The overall EVOH resins market for food application 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. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights . The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the EVOH resins market for food application.
Table of Contents
1. Introduction
3. Research Methodology
4. EVOH Resins Market for Food Application Landscape
5. EVOH Resins Market for Food Application - Key Market Dynamics
6. EVOH Resins Market for Food Application - Global Market Analysis
7. EVOH Resins Market for Food Application Analysis - By Application
8. EVOH Resins Market for Food Application Analysis - By End-Use
9. EVOH Resins Market for Food Application - Geographic Analysis
10. Impact of COVID-19
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Kuraray Co., Ltd.
- Nippon Gohsei (UK) Limited
- Kureha Europe B.V.
- Chang Chun Group
- Eval Europe NV
- Soarus L.L.C. (Mitsubishi Chemical Europe GmbH)
- Schur Flexibles GmbH
- Arkema
- Solvay S.A.
- Gantrade Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 151 |
| Published | July 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 576173.9 million |
| Forecasted Market Value ( USD | $ 770199.9 million |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
