BOPA Films Market Share

 North America industry is set to account for largest revenue share by 2037, attributed to increasing expansion of the food and beverage industry. The growth of the market can be attributed majorly to the increasing expansion of the food and beverage industry which is fueling up the high demand for BOPA films since they are significantly required in food packaging for distribution and export. Food is a sensitive substance that can be contaminated within a short time period, therefore, it requires specialized packaging methods and this requirement is fulfilled by BOPA films in every parameter. As per the data provided by the U.S. Department of Agriculture, foodservice and food retail industries supplied approximately USD 1.81 trillion worth of food in 2020, out of this total, USD 922.2 billion value of food was supplied by foodservice facilities only. Moreover, rising demand for BOPA films from domestic products, as well as a significant surge in the pharmaceutical industry is also estimated to augment the growth of the global BOPA films market over the forecast period in the region. Pharmaceutical products come with the strict precautions and can be packed in materials that have been tested and recommended to preserve their capacity to treat diseases. As of 2021, the pharmaceutical industry in the United States was estimated to hit USD 500 billion, while nearly USD 550 billion were spent on medicine by Americans in a similar year.