The global high barrier packaging films for pharmaceuticals market is forecast to expand at 5.3% CAGR over the estimated time-period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 484.8 million in 2023.
The industry is inundated with the demand for multi-layered packaging films. High barrier packaging films contain multiple layers that restrict any adverse response caused by UV light and mineral oil. This packaging also creates a barrier between the contents of the packaging and external factors like moisture, oxygen, and other gases such as carbon dioxide. Since high barrier films are solvent-free and do not react with pharmaceutical packaged goods, they are observing high demand in pharmaceuticals.
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High barrier packaging films have umpteen factors supporting their widespread use in the pharmaceutical industry. Some of these factors include cost-effectiveness, isolation from the outside environment, ease of handling, and a high level of protection. These films help regulate the temperature inside the packaging, thus contributing to its market expansion.
The films also help prolong the shelf life of a product by protecting it from light, moisture, biological contamination, and gases. Packaging manufacturers are shifting their focus to biodegradable innovative packaging solutions, which is expected to initiate the development of improved versions of additives and plastic films. Growing demand for customer-friendly packaging is also projected to have a positive impact on the high barrier packaging films for the pharmaceuticals industry.
Top Highlights from the FMI’s Analysis of High Barrier Packaging Films for the Pharmaceuticals Industry:
- The North America market attained a market share of 32.1% in 2022.
- The United States showcased a prominent market share of 29.1% in the year 2022.
- Europe is expected to trail behind North America. The European region is projected to grasp a market share of 29.6%.
- The German market is expected to experience a market share of 6.5% in 2022.
- The United Kingdom market is expected to expand at a CAGR of 5.6%.
- Within Asia Pacific, India, and China are projected to attain a CAGR of 7.1% and 6.8%, respectively, in the forecast period.
- On the basis of product type, coextruded films accounted for 80.7% in 2022.
- Based on application, blisters garnered a market share of 65.8% in 2022.
Key Companies Profiled:
- Amcor plc
- Bemis Company, Inc.
- Sealed Air
- KUREHA CORPORATION
- FLAIR Flexible packaging Corporation
- WINPAK Ltd.
- MULTIVAC
- DuPont, BERNHARDT Packaging & Process
- Sonoco Products Company
- Sigma Plastics Group
- Perlen Packaging
- OLIVER
- Berry Global Inc.
- Toray Plastics, Inc.
- Schur Flexibles Holding GesmbH
- ACG
- Shrinath Rotopack Pvt. Ltd.
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Stay Updated with Recent Developments in the High Barrier Packaging Films for Pharmaceuticals Market
- Raven Industries Inc., in August 2020, launched the BioFlex I-series, which is a new product in its plastic film line. The latex-free film is utilized in personal defense equipment (PPE). This innovation is utilized in laboratories and hospitals to avoid hospital acquired infections (HAIs). It goes without saying that the product complements the company’s product line.
- In September 2021, Flex Films introduced ultra-high barrier film made of metallic polyester ‘F-UHB-M’ for the substitution of AI foil. This recyclable film is made of high-value proposition. The film has economic benefits, metal bond performance, and sustainability quotient.
Key Segments Covered in High Barrier Packaging Films for Pharmaceuticals Industry Research
High Barrier Packaging Films for Pharmaceuticals Market by Product:
- Cold-Formable Films
- Coextruded Films
- Thermo-Formable Films
High Barrier Packaging Films for Pharmaceuticals Market by Material:
- Aluminium
- Plastics
High Barrier Packaging Films for Pharmaceuticals Market by Adhesion:
- Bags and Pouches
- Blisters
High Barrier Packaging Films for Pharmaceuticals Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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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