The breathable films market size was USD 2.6 billion in 2020. The market is projected to grow from USD 2.8 billion in 2021 to USD 4.8 billion in 2028 at a CAGR of 8% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Breathable Films Market, 2021-2028.” Factors such as the ability to provide moisture control in various products and rising demand from food packaging will drive the growth of the market during the forecast period. Additionally, prominent players are offering breathable textile backsheet, which will boost the market growth.
COVID-19 Impact
The COVID-19 pandemic will push the market toward a negative impact on the industry due to deep-rooted connections toward the textile, packaging, and medical industries. The pandemic forced various economies worldwide to go into forced lockdowns and further impose restrictions on the general population to curb the spread of the virus. Additionally, decreased availability of raw materials and declining customer income further slowed down the progress of the market during the forecast. A faltering transport system and halted world trade routes downgraded the volume of the market.
Regional Insights
Asia Pacific will occupy the largest breathable films market share during the forecast period due to increasing population and rising population from working mothers in the region. Additionally, rising demand from various sectors including pharmaceutical, personal care products, and food & beverages along with rising per-capita income among consumers will boost the growth of the market. Rising consumer awareness, increasing investment activities, and rising demand for processed foods will drive the market volume.
North America will hold a significant market share in terms of global contribution, owing to expanding construction industry and increasing building & architecture in the U.S. and Canada among others. Rising demand in terms of food packaging, heavy-duty snacks, and shopping bags will further fuel the growth of the market.
Browse Summary: https://www.fortunebusinessinsights.com/breathable-films-market-102318
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