Market Research Future (MRFR), in its recently published research report, asserts that the global high barrier packaging film market 2020 is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 6.2% CAGR in the forecast period.
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Drivers and Restraints
Packaging applications for food are expected to account for a key share of the barrier film market. This can be attributed to the rising trend of down-gauging, which has supported the shift from rigid to flexible packaging. Strong incentives from retailers, producers, and consumers to increase product shelf life and reduce wastage of packaging material, along with the increasing preference for fresh foods, such as fruits, meat, vegetables, and seafood, have augmented the demand for barrier films.
Furthermore, Pharmaceutical and medical products make up one of the significant markets for high barrier films. This market is anticipated to rise at a strong pace, based on augmented healthcare expenditure and new drug formulations that require higher barrier packaging. PET is anticipated to witness an increase in use, due to its ability to be metalized by vapor deposition of metals, which further improves the barrier against oxygen, water vapor, and aroma loss, which will consequently drive the market demand. LCP (liquid crystal PET) is an emerging PET film for high gas barrier applications. Consumers are focusing on convenience and purchase grab-and-go products rather than bulk buying; this is resulting in the growing demand for packaged food. The trend of grab-and-go food and snacks is motivating the demand for barrier film packaging solutions in the food industry.
The major market players operating in the global market as identified by MRFR are Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Printpack Inc. (U.S.), Ampac Packaging LLC (U.S.), The Mondi Group (Austria), Huhtamaki Group (Finland), Sealed Air Corporation (U.S.), Berry Plastics Corporation (U.S.), Linpac Packaging Limited (U.K.), Coveris Holdings S.A. (Luxembourg), Constantia Flexibles Group GmbH (Austria), Wipak Walsrode GmbH & Co. KG (Germany), Sonoco Products Company (U.S.), and Sigma Plastics Group (U.S.).
Article source: https://article-realm.com/article/Business/Ethics/17877-High-Barrier-Packaging-Films-Market-Key-Manufacturers-Analysis-2022-2030.html
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