Nordic Plastic Packaging Films - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Key Highlights

• Gothenburg, Sweden's second-largest city, holds strategic significance. It serves as the nation's primary port for international shipping and stands as Scandinavia's largest port, bolstered by its expanding industrial base.
• Gothenburg’s status as the foremost port for international shipping facilitates efficient import and export activities. This enhances the logistics and distribution networks for plastic packaging films, making it easier for manufacturers to source raw materials and distribute finished products across the Nordic region and beyond.
• The implementation of the Extended Producer Responsibility (EPR) regulations in Denmark, starting January 1, 2025, as mandated by the EU Packaging Directive, will likely contribute to the growth of the Nordic plastic packaging film market.
• Producers will need to ensure that their packaging meets the new regulatory standards. This can drive demand for plastic packaging films that are designed to be more easily recyclable, have higher recycled content, or are otherwise environmentally friendly, boosting the market for such products.
• The increasing awareness of the environmental impact of plastic waste and stringent regulations aimed at reducing plastic pollution pose significant challenges. Compliance with regulations such as the EU's Single-Use Plastics Directive requires manufacturers to invest in sustainable materials and recycling processes, which can be costly.

Nordic Plastic Packaging Films Market Trends

Food Segment Occupies the Largest Market Share

• The awareness of the high climate impact of food consumption can lead to stronger sustainability initiatives within the food packaging industry. This could drive innovation in the development of eco-friendly and sustainable plastic packaging films, such as those incorporating recycled materials or biodegradable options.
• Companies in the Nordic region, known for their focus on sustainability, may invest more in research and development to meet these demands. According to the Nordic Council of Ministers, Denmark stands out for its food consumption and boasts some of the highest climate impacts worldwide. Specifically, its CO2 emissions exceed the global average by 45%, largely attributed to the nation's pronounced preference for animal-based foods.
• Furthermore, Higher food consumption rates directly translate to increased demand for packaging, including plastic packaging films. Animal-based foods often require more extensive packaging to maintain freshness, prevent contamination, and extend shelf life, thereby driving the market for plastic packaging films.
• An article released by the European Commission in March 2024 highlighted that Sweden's food product manufacturing industry witnessed a turnover of USD 21.33 billion in 2022, a notable increase from USD 18.08 billion in 2018.
• As food production and manufacturing grow, there will be a higher demand for packaging materials, including plastic packaging films. These films are essential for preserving food freshness, extending shelf life, and ensuring product safety during transportation and storage.

Sweden is Expected to Show Significant Growth

• Sweden's import-oriented market and the diverse distribution and sales methods available for American exporters can positively impact the Nordic plastic packaging films market. As Sweden imports a wide variety of goods, there is a substantial need for effective packaging solutions to protect and preserve these products during transportation and storage. This creates a robust demand for high-quality plastic packaging films, driving market growth.
• In November 2023, Sweden inaugurated the largest plastics sorting facility in the region, aiming to double its plastic packaging recycling capacity. The enhanced sorting facility will allow for a greater volume of plastic packaging to be recycled. This increased capacity can help meet the growing demand for recycled plastic materials, which is essential for producing sustainable plastic packaging films.
• Higher pharmaceutical sales translate to an increased volume of products that need packaging. Pharmaceuticals require specialized packaging to ensure product integrity, safety, and compliance with regulatory standards. This leads to a higher demand for plastic packaging films designed for the pharmaceutical industry.
• According to an article published in October 2023 by the OECD, Pharmaceutical sales in Sweden have increased since 2016, when the sales value amounted to around USD 3.99 billion, and reached the highest value in 2022, when pharmaceuticals were sold worth nearly USD 5.44 billion.

Nordic Plastic Packaging Films Industry Overview

• March 2024: Berry Global’s flexibles division has increased its recycling capacity at three of its European facilities. This initiative addresses the rising need for top-tier films crafted from recycled materials by tapping into the company's worldwide network for recycled plastic.
• February 2024: Berry Global, a prominent player in manufacturing sustainable packaging solutions, has launched its latest initiative: the "Circular Innovation and Training Center." Spanning 12,000 square feet, this center is poised to fast-track the creation of pioneering products underpinned by advanced materials science and engineering. It's a hub for training and collaborative space, nurturing avant-garde stretch film projects that champion material reuse and environmental preservation.
• November 2023: Berry Global introduced an upgraded iteration of its Omni Xtra polyethylene cling film, tailored for fresh food applications. This new version serves as a high-performance substitute for conventional polyvinyl chloride (PVC) cling films. While the original Omni Xtra was well-received for packaging fruits, vegetables, meats, poultry, deli, and bakery items, the enhanced Omni Xtra+ boasts superior elasticity, consistent stretching, and heightened impact resistance.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support