Latest Advancements in Packaging Barrier Films Market by 2030
Global packaging barrier films market is expected to witness a definitive surge as the demand for safe packaging for food and beverages remains a grave concern. The risk of food spoilage while handling and storing is projected to fuel the uptake of packaging barrier films in the coming years. The impermeable nature of barrier films makes them ideal for storing packaged food.
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Over the years, development of sturdy material that keep the contents away from exposure to oxygen and other gases has strengthened the case for these films. Furthermore, packaging barrier films do not react with packaged food, which makes an ideal choice.
Analysts project that meat and fish will be the growing end use of packaging barrier films are they have the least oxygen transmission rate. The growing consumption of frozen food, lifestyle that dictate easting convenient food, and booming restaurant industry are expected to fuel the growth of this market in the coming years.
According to Future Market Insights, the global packaging barrier films market is expected to register a CAGR of 5.2% during the forecast period of 2020 and 2030.
Packaging Barrier Films Market Segmentation
By Product:
Stand-Up Pouches
Bags and Pouches
Forming Webs
Tray Lidding Film
Blister Packs
Wrapping Films
By Material:
Polyethylene (PE)
Polyvinylidene chloride
Polyethylene terephthalate (PET)
Other
By End-use:
Consumer Durables
Chemicals
Pharmaceuticals
Food & Beverage
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Global Packaging Films Market Study and Findings
Packaging barrier films are highly preferred in the pouches and shrink films packaging. Hence, these application segments are expected to account for around 58% of the collective market share by the end of forecast period.
Food and beverages segment to account for significant uptake of packaging barrier films as demand for frozen food reaches all time high
Pharmaceutical industry to contribute as hospital admissions remain high throughout the globe
Emerging economies of India and China to be key raw material suppliers
LDPE to remain highly used material as it offers exceptional barrier to moisture, strength, and flexibility
“Packaging barrier films market is expected to see a remarkable rise in the coming years as food consumption patterns change drastically. With increasing investments in research and development to manufacture stronger films, manufacturers are expected to lure bigger consumer base. In the coming years, manufacturers are expected to focus on building a circular economy by ensuring these films are recycled and reused,” says FMI analyst.
Smaller Packs to Lead Growth for Packaging Barrier Films as Preference Shifts
The demand for packaging barrier films is expected to be driven by small sized packs, which are easily reusable. Growing number of travelers and increasing awareness about reusing plastic-made items have contributed to this demand. Demand for light weight packaging products has also defined the success of packaging barrier films.
Consumers are increasingly opting for peel able packaging solutions. The demand for these will be high in packaging of cheese, meats, and poultry products. Thus, the growing consumption of these products will indirectly affect the sales of packaging barrier films.
COVID-19 Impact on Packaging Barrier Films
The impact of COVID-19 can be felt on global packaging barrier films as the sales of cosmetics have suffered to a great degree. The market has taken a hit due to ban on international travel and trade. Furthermore, stringent lockdowns that restricted e-commerce industry as well have led to a drop in the sales of packaging barrier films in the first two quarters of 2020.
However, analyst’s project that the demand for packaging barrier films is expected to regain normalcy as its demand picks up in pharmaceutical and food and beverage industry. As restaurants open for delivery and with limited capacity, they are further expected give the global market an impetus.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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