The global high performance barrier films market is anticipated to reach a valuation of US$ 12.5 billion in 2023, driven by growing demand for sustainable packaging. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.4% between 2023 and 2033, and reaching a total valuation of approximately US$ 25.6 billion by 2033.
One of the major factors contributing to the growth of the high performance barrier films market is the advancements in Barrier Film Technology. Ongoing research and development efforts have led to innovations in barrier film technology. Manufacturers are continually enhancing film properties, such as barrier performance, mechanical strength, and heat resistance. The advancements cater to the specific needs of diverse industries, including food and beverages, pharmaceuticals, electronics, and agriculture.
The global population’s growing appetite for packaged food and beverages has fueled the demand for high performance barrier films. The films protect perishable goods from contaminants and maintain their freshness, thereby reducing food spoilage and waste. The rising demand for convenience foods, ready-to-eat meals, and on-the-go packaging further drives the growth of barrier films in the food and beverage sector.
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Industries, especially food, pharmaceuticals, and cosmetics, are emphasizing the extension of shelf life for their products. High performance barrier films play a crucial role in preserving the quality and longevity of goods by preventing the penetration of moisture, oxygen, and other harmful elements, and this factor has become paramount, given the global supply chain and distribution challenges.
Key Takeaways from the Market Study
- Global high performance barrier films market was valued at US$ 11.7 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- Asia Pacific is expected to hold a dominant CAGR of 7.3% during the forecast period.
- By material type, polyethylene terephthalate (PET) segment is expected to constitute a CAGR of 7.3% in 2033.
- On the basis of end-user, food & beverage segment is expected to dominate the market with a CAGR of 7.3% in 2033.
- From 2023 to 2033, high performance barrier films market is expected to flourish at a CAGR of 7.4%.
- By 2033, the market value of high performance barrier films is expected to reach US$ 25.6 billion.
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Growing healthcare and pharmaceutical industries, across the globe, is a major factor that is expected to propel the growth of the high performance barrier films market in the near future, remarks an FMI analyst.
Competitive Landscape
Some of the recent developments are:
- In October 2023, Amcor announced the acquisition of Print & Packaging Farma, which is a Spanish flexible packaging company that specializes in the production of high barrier films for the pharmaceutical industry. The acquisition will strengthen Amcor’s position in the pharmaceutical packaging market and allow the company to offer a wider range of products and services to its customers.
- In September 2023, Toppan announced the opening of its new manufacturing facility in Most, Czech Republic. The new facility is expected to produce high barrier films for the food, beverage, and pharmaceutical industries.
- In August 2023, Jindal Poly Films Limited announced the launch of its new line of high barrier films for the pharmaceutical industry. The new line of films offers excellent oxygen and moisture barrier properties, making them ideal for packaging pharmaceutical products that require a high level of protection.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global high performance barrier films market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the high performance barrier films market, the market is segmented on the basis of material (polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), polyvinyl chloride (PVC), and polylactic acid), by type (bags & pouches, stand-up pouches, retort, non-retort, tray lidding films, forming webs, wrapping films, and blister pack base webs), and by end-use (food & beverage, pharmaceuticals, electronics, construction, agriculture & allied industries, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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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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