The global packaging barrier film market is poised for substantial growth, with a projected value of US$ 18.8 billion in 2024, according to the latest industry analysis. Future Market Insights (FMI) forecasts steady progress for the market from 2024 to 2034, with a Compound Annual Growth Rate (CAGR) of 2.7%. By the end of the forecast period, the packaging barrier film industry value is expected to soar to US$ 24.5 billion.
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Market Drivers:
- Electronic Goods Production: The increasing pace of electronic goods production is driving the demand for packaging barrier films, which provide protection and safety during transportation and storage.
- Pharmaceutical Packaging: The pharmaceutical industry’s need for secure and safe packaging options is fueling the demand for packaging barrier films, which offer protection against moisture, oxygen, and other external factors.
- Food and Beverage Industry: The burgeoning food and beverage industry is demanding secure packaging options at an increasing rate, leading to the widespread use of packaging barrier films for food preservation and safety.
- Shift Towards Eco-friendly Materials: Regulatory pressure on the use of plastic is prompting manufacturers to adopt eco-friendly materials in packaging barrier film production, including recyclable and biodegradable options.
Market Trends:
- Meat Packaging: Packaging barrier films are extensively used for meat packaging, and with the growing consumption of meat worldwide, the market for packaging barrier films is expected to benefit significantly.
- Rise of Home Deliveries: The increasing preference for home deliveries is driving the demand for packaging barrier films, which provide secure and convenient packaging solutions for online purchases.
- Branding in the Food and Beverage Sector: Vendors in the food and beverage sector are leveraging packaging barrier films for branding purposes, enhancing product functionality and appeal.
- Ready-to-Eat Meals: Packaging barrier films are popular options for ready-to-eat meals packaging, catering to the growing demand for convenient eating options among consumers.
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Challenges:
- Regulatory Scrutiny: The use of plastic in packaging barrier films is under increasing scrutiny by regulatory authorities, leading to challenges in production and raw material sourcing.
- Aversion to Plastic: Consumer aversion to plastic is impacting the packaging barrier film market, prompting manufacturers to explore alternative materials and solutions.
Opportunities:
Despite challenges, the packaging barrier film market offers significant growth opportunities, driven by the continued development of the food and beverage sector and the pharmaceutical industry’s demand for safe packaging solutions.
As the market evolves, manufacturers are expected to innovate and adapt to changing consumer preferences and regulatory requirements, driving further advancements in packaging barrier film technology and sustainability practices.
Key Takeaways from the Packaging Barrier Film Market
- The packaging barrier films market is anticipated to be US$ 18.8 billion in value in 2024.
- High barrier films are the predominant barrier type in the market. For 2024, high barrier films are expected to account for 50.2% of the market share.
- Packaging barrier films are used in the food and beverage sector. For 2024, food and beverage use is anticipated to account for 42.1% of the market share.
- India is a promising country for the market. The CAGR for India over the forecast period is forecasted to be 6.5%.
- China is another Asian country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for China is pegged at 5.1%.
- The market is expected to register a CAGR of 2.1% in Spain over the forecast period.
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Key Segments
By Barrier Type:
- Low Barrier
- Medium Barrier
- High Barrier
- Ultra High Barrier
By Material:
- EVOH
- PA
- PVDC
- Aluminium
- Oxides
By Application:
- Bags & Pouches
- Blister Pack
- Shrink Films
- Stretch Films
- Sachets & Stick Packs
- Lids
By End Use:
- Food and Beverages
- Pharmaceuticals
- Electronics
- Home Care
- Personal Care
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and 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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