Barrier materials: Key market research findings
- Increased shelf life drives market growth
- Food and beverage segment accounts for a majority of the market’s revenue
- Key vendors – Kuraray, Dow Chemical, DuPont, Solvay, and Teijin
Technavio’s market research analysts predict the global market for barrier materials to grow at a CAGR of over 7% between 2016 and 2020. The growth of this market is driven primarily by the increased shelf life of packaged foods that can be achieved by the use of barrier materials. Barrier materials are highly flexible, transparent, and prevent the passage of gases, liquids, and radiation. These materials are used in the form of thin films and sheets for food packaging. They increase the shelf life of packaged foods by preventing the passage of atmospheric air. During 2015, APAC accounted for more than 43% of the overall market share to become the dominant shareholder in the global barrier materials market. The market in this region is expected to experience the fastest growth during the forecast period on account of factors like rise in contract manufacturing activities, increasing government initiatives, and aging population.
The new market research report from Technavio presents a breakdown and analysis of the barrier materials segments based on the end-use industry.
“Currently, enormous developments in R&D in bio-based barrier materials is in process, which provides a great opportunity for the high growth of the barrier materials market, globally. Bio-based barrier materials are easier to handle, transport, and provide protection against impact and pressure, light, moisture, oxygen, microorganisms, and impurity. The packaging also aids in preserving the nutritional value, taste, and smell. Bio-based barrier materials have wide scope in applications such as fresh case-ready fresh seafood, chicken, lamb, pork, beef, and veal, smoked and processed meats, and pasta, owing to superior properties over traditional barrier materials,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
By 2020, the food and beverage segment will account for almost 49% of the overall market share to continue its market dominance. Barrier materials extend shelf life, preserve flavor and quality, and provide an airtight seal that prevents the entry of oxygen and other gases, thereby preventing the degradation of nutrients from oxidation. These materials are mainly used for the packaging of food and beverage products such as canned milk, meat, fish, beer, wine, canned vegetables and fruits, and carbonated soft drinks.
The key vendors in the global barrier materials market include Kuraray, Dow Chemical, DuPont, Solvay, and Teijin. Vendors compete on the basis of factors such as innovation, price, operational cost, and product quality. Some of the players are able to drive down market prices because their operational costs are lower than that of their competitors. In addition, financial, technological, and other resources of a few players are greater than that of their competitors; such players can better withstand the changes in market conditions.
A more detailed analysis is available in the Technavio report, Global Barrier Material Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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