The global skin packaging market reached a value of US$ 8.9 Billion in 2018. Skin packaging refers to the packaging method where a product is packed by placing it between a plastic sheet and a paperboard backing. It is employed primarily to increase the shelf-life as it can seal the product tightly, thus restricting the damage due to any external elements. This helps in reducing spoilage, as a result of which it is particularly useful for ensuring the safe transportation of goods over a long distance. In addition to this, as this type of packaging takes up lesser space and is lighter than most substitutes, it also helps in lowering transportation costs. At present, it is mostly used for packing food items and industrial goods such as tools, spare parts, and electronic components.
Owing to hectic schedules and increasing disposable incomes, the demand for packaged and ready-to-eat (RTE) food items has experienced a steep rise across the globe. Since skin packaging serves in retaining the flavor of a food item for an extended period, it has gained widespread popularity in the food industry. Moreover, as this packaging solution is more versatile and cost-effective than its metal and glass counterparts, it has become a preferred choice for packing consumer goods. Some of the other factors leading to the increasing sales of skin packaging are better product visibility, easy-peel corners and the requirement of less packaging material. According to IMARC Group, the market value is anticipated to reach US$ 11.6 Billion by 2024, expanding at a CAGR of 4.5% during 2019-2024.
The report has also analysed the competitive landscape of the market with some of the key players being Sealed Air Corporation, E.I. Du Pont De Nemours and Company, Bemis Company, Inc., The DOW Chemical Company, Westrock Company, Berry Plastics Group, Inc., Clondalkin Group Holdings B.V., Linpac Packaging Limited, Display Pack Inc., Mondini SPA, etc.
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