Soft Touch Film Market is growing due to rising demand for premium, tactile packaging in electronics and printing. Innovations and luxury preferences drive this trend. Visually Appealing Packaging and Surge in E-commerce Platform Augmenting the Market of Soft Touch Films. FMI Maps out Industry Growth
NEWARK, DE / ACCESSWIRE / July 30, 2024 / The soft touch film market value is expected to rise from USD 2.9 billion in 2024 to USD 3.9 billion by 2034. The market is analysed to surge ahead at a CAGR of 3.1% over the next decade.
The global soft touch film market is expected to experience significant growth due to increased promotion activities across industrial and commercial sectors and the increasing use of these films in electronic packaging. Soft touch films, made from plastics like polypropylene, polyethylene terephthalate, and polyethylene, provide a velvety texture and a scuff-resistant surface that enhances and protects the substrate product's appearance. They are primarily designed for one-side lamination and come in three types of coatings: water-based, solvent-based, and FDA-compliant.
Demand for soft touch films is increasing due to their ability to enhance textural feel, minimize glare, preserve image color, and offer vivid color clarity. End users are shifting their preference towards ultra-matte soft touch films due to their premium finish, fingerprint resistance, protection from toner chipping, and enhanced grip.
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Soft touch films are also being used in the printing and publishing sector for applications such as corporate brochures, postcards, boxes, and premium prints. However, factors such as increasing costs, decreasing substrate color brightness, and strict regulations regarding plastic use are hindering sales.
Consumers are increasingly favoring sophisticated and luxurious packaging, driving demand for soft touch films that enhance the tactile and visual appeal of premium products. The growth of the electronics industry and the need for protective, scuff-resistant packaging for electronic devices are boosting the demand for soft touch films. Leading companies are continuously introducing innovative soft touch film products to meet changing consumer demands.
"The growing popularity of reading among millennials and collaborations between well-known authors and publishers are further encouraging the use of soft touch films in the literary sector," says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Soft Touch Film Market Report
Historically, the soft touch film sector grew at a pace of 2.8%. The market's worth rose from USD 2.4 billion in 2019 to USD 2.8 billion in 2023.
Polypropylene is predicted to hold a leading position throughout the projection period. The category is expected to have a 34.1% share in 2024.
In 2024, packaging sector is expected to have the largest market share of 52.3%.
In the United States, the industry is predicted to report a CAGR of 1.9% over the forecast period.
In Asia Pacific, India and China are the top achievers, with CAGRs of 5.5% and 4.8%, respectively, throughout the predicted period.
The demand from Spain is anticipated to register a CAGR of 2.7% by 2034.
Competitive Landscape
The soft touch film market is experiencing a fascinating shift. Leading players are prioritizing sustainability, and recognizing the growing consumer demand for eco-friendly packaging solutions such as biopolymer, and bioplastics. The evolution of the industry translates to a surge in research and development of lamination paper made from recycled or biodegradable materials.
At the same time, international companies are pursuing strategic alliances such as mergers and acquisitions. The partnerships, particularly with domestic firms and innovative startups, offer access to new technologies and expertise. This allows them to expand their product portfolios of soft lamination film, catering to a wider range of applications and propelling global sales. The dynamic landscape signifies a future where eco-conscious layering films are anticipated to be at the forefront, driven by both consumer preferences and strategic industry collaborations.
Recent Industry Developments in Soft Touch Film Market
A soft touch, home compostable film line from Earthfirst® Films was unveiled in May 2023. It is intended for use in a variety of applications, including produce labels, retail bags, and e-commerce shipping envelopes. The films are available in clear matte, white gloss, and strong side seals. They are created from a special combination of biopolymers and are friendly to greenhouse gases (GHGs).
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Key Players of the Soft Touch Film Industry
Amcor Limited
Dow Chemical Co.
Doro Tape (UK) Ltd.
Monotech Systems Ltd.
Avery Dennison Corporation
DUNMORE Corporation
Ampacet Corporation
Pragati Corporation
Jet Technologies
Taghleef Industries SLU
Flex film Limited
Cosmo Films, Ltd.
Key Segments of the Soft Touch Film Industry
By Material:
In terms of material, the industry is divided into Polypropylene (PP), Polyvinyl Chloride (PVC), Polyester (PET), Polyamide (PA), Polyethylene (PE), and other materials such as EVA, and EVOH.
By Thickness:
In terms of thickness, the industry is segregated into upto 0.1 mm, 0.1 to 0.5 mm 0.5 to 1.0 mm, and above 1 mm.
By End-use:
End use industries of the sector are lamination, packaging, printing and publication.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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The global soft touch lamination film market size is anticipated to reach a value of USD 2.3 billion by 2034. Demand for soft touch lamination film is projected to report a CAGR of 3.7% over the forecast period.
Global sales of packaging laminates market are anticipated to reach USD 9,694.9 million by 2034.The market is projected to expand at a CAGR of 4.3% over the forecast period between 2024 and 2034.
The surface printed film market Demand is expected to surpass USD 566.6 million by 2034. The demand for surface printed films is expected to grow at 4.80% during the forecast period.
The silky matte film market size is projected to be worth USD 218.5 million in 2023. The market is likely to surpass USD 317.3 million by 2033 at a CAGR of 3.8% during the forecast period.
The protein films market growth is estimated to reach USD 2.2 Billion with a CAGR of 5.9% by 2032.
The brightness enhancement film market valueis likely to cover a market valuation of USD 239.4 million by 2034 and on a continuum CAGR of 4.50% from 2024 to 2034.
The demand for direct thermal printing films is projected to grow at a CAGR of 4.1% between 2023 and 2033, totaling around USD 328.44 million by 2033.
The global high barrier packaging films market sales is likely to witness a moderate CAGR of 3.9% in the estimated time frame (2023 to 2033). The market is projected to be valued at USD 33.6 billion by 2033.
The polyvinyl chloride (PVC) packaging film market size is stretching at a relatively higher CAGR of 2.40% from 2024 to 2034 than the previous assessment period. In addition, incremental gains of USD 17.3 billion projected for 2034 fuel their growth efforts
The recyclable plastic films market size is expected to rise to USD 39,785.0 million by 2033. The sales of recyclable plastic films are expected to record a significant CAGR of 5.1% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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