Market Trends of Nordic Plastic Packaging Films Industry
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.
Understand The Key Trends Shaping This Market
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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.
