Increasing Application in Food Packaging Industry Contributes to EVOH Resins Market for Food Application
According to our latest market study, titled “EVOH Resins Market for Food Application Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Films, Tray, Bottles, Bag-in-box, Others) and End-Use (Bakery and Confectionery, Beverages, Sauces and Dressings, Meat Poultry and Seafood, RTE Foods and Meals, Others),” the Ethylene-Vinyl Alcohol Copolymer (EVOH) resins market for food application size is expected to grow from US$ 576,173.9 thousand in 2021 to US$ 770,199.9 thousand by 2028. It is expected to grow at a CAGR of 4.4% from 2021 to 2028. The report highlights key factors governing the growth of this market. It also profiles prominent market players and their developments in the EVOH resins market for food application.
EVOH resins market for food application is increasing due to the rising consumption of packed food products. EVOH resins are also called ethyl vinyl alcohol copolymer, a high oxygen barrier material with widespread application in food packaging. It is commonly used as a barrier film in the prevailing flexible and rigid packaging formats, such as films, trays, bottles, and others.
EVOH resins have gained popularity in packaging. It is mainly used by manufacturers of flexible and rigid packaging materials to increase barrier properties of their products and offer consumers differentiated products. The evolution of EVOH-based films on the market reduces the demand for PVDC barrier films. EVOH resins possess several properties, such as transparency and luster, that increase the aesthetic properties of products and ultimately fuel their demand.
EVOH resins are Ecological and recyclable products with little or no impact on the environment. EVOH resins are applied in various food packaging products, such as meat packaging, baby food packaging, personal use, and cosmetics. The increasing demand for EVOH resins products such as films, tray, and others will eventually increase the need for EVOH for packaging over the next few years.
The global EVOH resins market for food application is mainly driven by the increasing consumption of various bakery products and confectionery, such as bread, biscuits, cookies, pastry, pies, and desserts. The food and beverage sector is one of the major industries in countries, such as India, Australia, China, Germany, and France. The food and beverage industry in these countries generates massive demand for EVOH resins. However, the availability of cheaper alternatives may hamper the EVOH resins market for food application during the forecast period.
The US, Canada, and Mexico are the main countries in North America where the EVOH resins market has thrived in recent years. The rising demand for organic products that do not use synthetic elements and are perishable is expected to drive the need for EVOH resin films for packaging in this region over the coming years. Furthermore, EVOH is resistant to oil and organic solvents, making it an excellent choice for storing consumables and food products for extended periods. These environmentally friendly qualities of EVOH packaging films will increase demand for the material and aid the North America EVOH resins for food application market.
Impact of COVID-19 Pandemic on EVOH Resins Market for Food Application
The COVID-19 pandemic led to adverse effects in many industries, such as the chemical & materials, as they faced unprecedented challenges due to disruptions in supply chains and disharmony in manufacturing, delivery schedules, and sales of various goods. The demand for EVOH resins for food application decreased due to disturbances in the operations of the food and beverages sectors. Many EVOH resin production sites were closed in 2020, either partially or completely.
Moreover, fluctuations in raw material costs and availability resulted in the volatility of prices of EVOH resins. However, with economies reviving gradually since 2021, the demand for EVOH resins is expected to increase globally in the coming years.
Kuraray Europe GmbH; 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; Gantrade Corporation; The Compound Company BV; Soarnol; Arkema; Solvay S.A.; are the key players in the EVOH resins market for food application. These market players are emphasizing on developing high-quality and innovative products and expanding their product portfolios to address continuously evolving customer demands.
EVOH Resins Market for Food Application – Regional Overview
EVOH Resins Market for Food Application Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Films, Tray, Bottles, Bag-in-box, and Others) and End-Use (Bakery and Confectionery, Beverages, Sauces and Dressings, Meat Poultry and Seafood, RTE Foods and Meals, and Others)
EVOH Resins Market for Food Application | Size & Share - 2028
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The report segments the EVOH Resins Market for Food Application as follows:
By application, the market is segmented into films, trays, bottles, bag-in-box, and others. By end-use, the market is segmented into bakery and confectionery; beverages; sauces and dressings; meat, poultry, and seafood; RTE foods and meals; and others. By geography, the market is segmented into 5 main regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.