For every consumer goods product that has ever hit the shelves of retail outlets, a percentage of its production cost gets spent on branding the product by sticking a holographic film on its packaging label.
New York, NY -- (SBWIRE) -- 09/07/2017 -- Persistence Market Research's report titled "Global Market Study on Holographic Films: Pharmaceuticals End Use Industry Segment Estimated to Increase 2.2X in Terms of Value over the Forecast Period ," projects the US$ 5,767.3 million global holographic films market will expand at an impressive CAGR of 9.3% during the period of forecast - 2016-2024.
Besides the branding demands, the active use of Fresnel lens technology in designing flexible packaging surfaces has become a proponent for consumption of holographic films, the combination of which is likely to create 3D effect for customers viewing the products stacked on store shelves. While secured packaging and anti-counterfeit measures promote the use of holographic films, volatile costs of film materials are likely to hamper the growth of the global holographic films market.
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Accordingly, billions of consumers goods sold daily from all parts of the world necessitate the expansion of global production capacity for holographic films. In 2015, global sales of holographic films exceeded US$ 5 billion, attesting the universal demand for iconic branding techniques. According to a recent research conducted by Persistence Market Research, the global holographic films market revenues are estimated to reach US$ 11,775 million in value by 2024.
By the end of forecast period, the holographic films sales from Asia Pacific (APAC) region will rake in revenues worth over US$ 4.3 billion. The APAC holographic films market is anticipated to be fastest growing region in the global market, registering an estimated CAGR of 10.8%. In 2016, the region accounted for one-third share of the global market value, followed by North America – which secured over 25% share of the global holographic films market size.
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Europe's holographic films market is likely to join North America and APAC as regions lucrative for expansion of holographic films businesses. Meanwhile, the holographic films market size is to expand at a modest rate in regions such as Latin America and the Middle East & Africa (MEA).
Sales of holographic films in the world have been largely concentrated towards two aspects – the type of film material preferred and its application. Product manufacturers and packaging industry players prefer using metallized holographic films over transparent films. Similarly, the use of such films finds greater application in anti-counterfeit measures of packaging companies.
Surging instances of product duplicity have integrated holographic films into packaging operations that label symbols for identifying authentic products. Independently, metallized holographic films and anti-counterfeit applications are expected to account for over 70% of global market revenues throughout the forecast period.
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While local manufacturers of holographic films are expected to collectively account for over half of the global market, companies such as Uflex Limited and Polinas Plastik Sanayi ve Ticaret A.S. will jointly hold company share of 14.2%. Leading holographic films manufacturers namely Toray Industries Inc., SRF Limited, and Nan Ya Plastics Corporation, are expected to exclusively focus on business expansion in regions such as North America, Asia Pacific, and Europe.
Strategic acquisitions is pegged to be a top priority for Jindal Poly Films Ltd., API Group Plc., and Avery Dennison Corporation, while Cosmo Films Limited and K Laser Technology Inc. are expected to increase their global presence through product launch.
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