According to Future Market Insights, the global packaging barrier films market is expected to register a CAGR of 3.4% during the forecast period of 2022 and 2030.
Global packaging barrier films market is expected to witness a definitive surge as the demand for safe packaging for food and beverages remains a grave concern. The risk of food spoilage while handling and storing is projected to fuel the uptake of packaging barrier films in the coming years. The impermeable nature of barrier films makes them ideal for storing packaged food.
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Over the years, development of sturdy material that keep the contents away from exposure to oxygen and other gases has strengthened the case for these films. Furthermore, packaging barrier films do not react with packaged food, which makes an ideal choice.
Analysts project that meat and fish will be the growing end use of packaging barrier films are they have the least oxygen transmission rate. The growing consumption of frozen food, lifestyle that dictate easting convenient food, and booming restaurant industry are expected to fuel the growth of this market in the coming years.
List of Key Players Covered in Packaging Barrier Films market are:
Mondi Plc, Huhtamaki Oyj, Winpak Ltd., Atlantis Pal Co. Ltd., Glenroy, Inc., Uflex Ltd., Plastissimo Film Co., Ltd., Bischof & Klein GmbH, Ampac Holdings, LLC, Schur Flexibles Holding GmbH, Linpac Packaging Ltd., Clondalkin Group Holdings B.V., Accredo Packaging, Inc.,, Sigma Plastics Group, Inc., Krehalon Industrie B.V., Supravis Group S.A., Sudpack Verpackungen GmbH & Co. KG, Flexopack SA, Cosmo Films Ltd., Jindal Poly Films Ltd.
“Packaging barrier films market is expected to see a remarkable rise in the coming years as food consumption patterns change drastically. With increasing investments in research and development to manufacture stronger films, manufacturers are expected to lure bigger consumer base. In the coming years, manufacturers are expected to focus on building a circular economy by ensuring these films are recycled and reused,” says FMI analyst.
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Global Packaging Films Market Study and Findings
- Packaging barrier films are highly preferred in the pouches and shrink films packaging. Hence, these application segments are expected to account for around 58% of the collective market share by the end of forecast period.
- Food and beverages segment to account for significant uptake of packaging barrier films as demand for frozen food reaches all time high
- Pharmaceutical industry to contribute as hospital admissions remain high throughout the globe
- Emerging economies of India and China to be key raw material suppliers
- LDPE to remain highly used material as it offers exceptional barrier to moisture, strength, and flexibility
COVID-19 Impact on Packaging Barrier Films
The impact of COVID-19 can be felt on global packaging barrier films as the sales of cosmetics have suffered to a great degree. The market has taken a hit due to ban on international travel and trade. Furthermore, stringent lockdowns that restricted e-commerce industry as well have led to a drop in the sales of packaging barrier films in the first two quarters of 2020.
However, analysts project that the demand for packaging barrier films is expected to regain normalcy as its demand picks up in pharmaceutical and food and beverage industry. As restaurants open for delivery and with limited capacity, they are further expected give the global market an impetus.
Regional Insights
The Asia-Pacific is expected to witness a topsy-turvy situation in the packaging barrier films market in the forecast period. This could be attributed to the ever-increasing consumerism in countries like China and India. Additionally, according to the Organization for Economic Co-operation and Development, these two countries are bound to witness growth by 230% and 232% respectively in the pharmaceutical sector.
Packaging Barrier Films Market by Region:
- North America Packaging Barrier Films Market
- Latin America Packaging Barrier Films Market
- Europe Packaging Barrier Films Market
- East Asia Packaging Barrier Films Market
- South Asia Packaging Barrier Films Market
- Oceania Packaging Barrier Films Market
- Middle East & Africa (MEA) Packaging Barrier Films Market
Detailed Table of Content:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Packaging Barrier Films Market Analysis 2015-2021 and Forecast, 2022-2030
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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