high barrier packaging films: Key market research findings
- Growing need for extended shelf life of packaged products
- Rise in bio-based polymer films
- Key players are Amcor, Bemis, Berry Plastics, DuPont, Sealed Air, and Sigma Plastics
Technavio’s market research analysts predict the global high barrier packaging film market to grow at a CAGR of more than 5% between 2016 and 2020. The growing demand for fresh and prepared food products is driving the need for high barrier packaging films across the globe. The high barrier packaging films help in extending the shelf life and preserving the high quality of food stored in them. These packaging films have unique features like chemical properties, heat resistance, gas and aroma barrier, high tensile strength, puncture resistance, durability, special surface properties, and lighter packaging which has boosted their demand among manufacturers. Super-thin films and multilayer films are the major films used for many food products applications. APAC will be the largest revenue-generated region in the market and is likely to occupy more than 36% of the overall market revenue. Much of this region’s growth comes from the increasing demand for consumer goods and packaged food from countries such as China, India, and Japan and the huge growth of e-commerce industry.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the packaging companies are focusing on the use of biodegradable materials due to rising environmental concerns and government regulations. They are coming up with new bio materials to fulfill the end-user demand for sustainable specialty and high-performance films. Soluble films are anticipated to be in huge demand as there is an untapped market for pharmaceutical and health products in dissolvable thin film form. Additionally, the surging demand from the edible and soluble food packaging industry will positively impact the overall packaging market in the coming years,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
The food industry segment is the largest end-user of high-barrier packaging film and accounted for around 67% of the overall market share in 2015. The extensive use of high barrier films for packaging of meat and meat products is one of the most important factors driving the growth of this market segment. Also, barrier films are used for vacuum packaging which helps in maintaining an optimum atmosphere for an extended shelf life. The increasing demand for high barrier films for fish and seafood packaging is anticipated to propel this market segment’s growth over the forecast period.
The global high barrier packaging film market is highly fragmented owing to the presence of local and international suppliers. The vendors compete on the basis of product differentiation, pricing, and portfolio. The competitive environment is expected to intensify with an increase in product extensions, technological advancements, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global High Barrier Packaging Film Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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