PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551314
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1551314
According to Stratistics MRC, the Global Peel and Reseal Packaging Market is accounted for $122.50 billion in 2024 and is expected to reach $173.77 billion by 2030 growing at a CAGR of 6.0% during the forecast period. Peel-and-reseal packaging is a practical and easy-to-use solution that improves product usability and preservation. It has an easily removed top layer that allows you to access the contents and a resealable closure that lets you close the package securely again. This kind of packaging is especially useful for products that need to be opened and closed repeatedly or that need to be protected from environmental factors like moisture or contamination. Moreover, peel-and-reseal packaging is frequently used in the food, pharmaceutical, and personal care industries. It combines convenience and security to guarantee that products stay fresh and accessible while reducing waste and prolonging shelf life.
According to the Packaging Machinery Manufacturers Institute (PMMI), peel and reseal packaging is rapidly gaining popularity due to its ability to enhance product freshness and user convenience, making it an ideal choice for a wide range of consumer goods.
Increasing demand in the food and drink industry
Peel and reseal packaging is widely used in the food and beverage industry as a means of preserving product quality and freshness. Packaging that can offer simple access and resealability is becoming more and more necessary as convenience foods and ready-to-eat meals gain popularity. Furthermore, by enabling customers to store partially used products efficiently, this packaging contributes to a decrease in food waste and is in line with industry efforts to improve sustainability and lessen environmental impact.
Increased production expenses
When compared to conventional packaging options, peel and reseal packaging frequently uses more sophisticated manufacturing techniques and materials. Production costs may rise due to the use of multi-layer films, sophisticated adhesives, and tamper-evident features. Additionally, higher costs can be a deterrent for manufacturers, particularly small and medium-sized businesses, and could raise consumer prices, which could slow the expansion of the market.
Increasing need for eco-friendly packaging options
Peel and reseal packaging with eco-friendly materials presents a big opportunity for innovation as sustainability gains traction with both consumers and businesses. In order to satisfy the growing demand from consumers for packaging that is environmentally friendly, manufacturers can investigate using biodegradable films, recyclable materials, and sustainable adhesives. Furthermore, lessening its impact on the environment, this move toward green packaging supports international efforts to mitigate climate change.
Volatility of raw material price
The price of the raw materials-adhesives, specialty films, and other components-used in peel-and-reseal packaging can fluctuate. Production costs and profitability may be impacted by changes in the price of these materials brought on by disruptions in the supply chain, geopolitical concerns, or shifts in consumer demand. Moreover, the inability of manufacturers to control these expenses may force them to be passed on to customers, which could have an impact on market demand.
The market for peel and reseal packaging was affected by the COVID-19 pandemic in different ways. On one hand, as consumers and companies looked to assure product integrity and lower the risk of contamination, the increased focus on hygiene and safety raised the demand for tamper-evident and resealable packaging solutions. The pandemic caused a disruption in global supply chains, which raised production costs and resulted in a shortage of raw materials. Furthermore, packaging preferences and demand were impacted by consumer behavior shifts, such as an increase in online shopping, and economic uncertainty, which presented both opportunities and challenges for the market.
The Reseal Labels segment is expected to be the largest during the forecast period
The Reseal Labels segment holds the largest market share in the peel and reseals packaging market. Because they are widely used in so many different industries, such as food, pharmaceuticals, and personal care products, reseal labels are the market leader in this particular market. These labels are a useful way to keep products secure and fresh, especially for things like snacks, wet wipes, and medical supplies that need to be accessed frequently. Moreover, they are a popular option for both manufacturers and customers because of their capacity to create an airtight seal and the ease of opening and resealing.
The Paper & Paperboard segment is expected to have the highest CAGR during the forecast period
Due to consumers becoming more interested in eco-friendly and sustainable packaging options, the paper & paper board segment is growing at the highest CAGR. Paper-based materials are becoming more and more popular as a substitute for plastic among manufacturers and brands as environmental concerns and plastic usage regulations grow. Additionally, strong growth in this market is being driven by their attractiveness, which is further enhanced by the option for simple customization and the capacity to print high-quality graphics.
The market for peel and reseal packaging is dominated by North America due to the region's high demand for practical and environmentally friendly packaging solutions in a variety of sectors, such as food and drink, pharmaceuticals, and personal care. The region's well-established e-commerce and retail industries support the demand for creative packaging that extends product shelf life and improves consumer convenience even more. Peel and reseal packaging has also become more popular in North America due to the region's strong emphasis on sustainability and recycling, particularly as consumers grow more environmentally conscious. Moreover, North America's dominance in this market is also attributed to its advanced technological capabilities and the presence of major packaging manufacturers.
The peel and reseal packaging market is expanding at the highest CAGR in Asia-Pacific due to the region's rapid urbanization, expanding middle class, and rising consumer demand for eco-friendly and convenient packaging. The food and beverage, pharmaceutical, and personal care industries are expanding significantly in nations like China, India, and Japan. Peel and reseal packaging is becoming more and more popular in these markets due to its capacity to preserve product freshness and offer convenient features. Additionally, the adoption of eco-friendly packaging materials in Asia-Pacific is also being encouraged by growing environmental awareness and government initiatives to reduce plastic waste, which is driving market growth in this region.
Key players in the market
Some of the key players in Peel and Reseal Packaging market include Berry Global Inc., Avery Dennison Corporation, DuPont, Mondi Group, CCL Industries Inc., 3M, Seiko Epson Corporation, Henkel AG & Company, Cenveo Inc., UFlex Ltd., Amcor PLC, Flexcon Company, Inc., Saint Gobain SA, Dunmore Corporation and Fuji Seal International, Inc.
In June 2024, DuPont announced it has signed an agreement to acquire Donatelle Plastics Incorporated, a leading medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.
In June 2024, Avery Dennison Corp has entered into a new credit agreement, securing a revolving loan facility of up to $1.2 billion with an option to increase the amount by $600 million upon meeting certain conditions.
In February 2024, Berry Global Group, Inc. and Glatfelter Corporation have entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business (HHNF) with Glatfelter, to create a publicly traded company in the specialty materials industry. The Boards of Directors of Berry and Glatfelter have unanimously approved the transaction.