High Barrier Packaging Films Market - Global Industry Size, Share, Growth, Trends and Forecast For 2017 - 2027

Global High Barrier Packaging Films Market: Snapshot

Numerous local and international players, competing against one another on the basis of price and product differentiation, makes the global high barrier packaging films market fragmented and competitive. In the next couple of years, the competition is predicted intensify further because of increasing number of mergers and acquisitions, product extensions, and technological progress.

Serving to drive growth in the global high barrier packaging films market is the soaring sales of packaged food. This is mainly on account of growing consumption of diary products and ready-to-eat meals. Further, growing health awareness among the consumers have generated substantial demand for convenient form of flexible packaging such as high barrier packaging films, which also help to increase the shelf life of the product.

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Countering the growth in the global high barrier packaging films market, on the other hand, is the surging uptake of substitutes such as liquid cartons. Also, recycling and disposing of multilayered films poses a challenge for manufacturers. This is because recycling costs more than making new ones and dumping barrier films leads to environmental issues.

A report by Transparency Market Research predicts the global high barrier packaging films market to rise at a 7.8% CAGR from 2017 to 2027 to become worth US$43.08 bn by 2027. Consumption of global high barrier packaging films is expected to rise to 4,421000 tonnes by 2027.

Food Segment Driving Market Substantially

The global high barrier packaging films market can be segmented based upon different parameters. By the type of packaging, for example, it can be divided into bags, pouches, lids, films, shrink, laminated tubes, etc. Of them, pouches are slated to clock maximum growth in the next couple of years by expanding at a CAGR of 7.9% between 2017 and 2027.

Similarly, on the basis of end-use, the global high barrier market can be segmented into pharmaceuticals, food, beverages, medical devices, electronic devices, agriculture, and chemicals, among others. Among them, the food segment is predicted to hold more than half the share in the overall market by expanding at a CAGR of 7.9% in the forecast period.

Burgeoning Food Packaging Market Stokes Maximum Growth in Asia Pacific, excluding Japan

Latin America, North America, Western Europe, Eastern Europe, the Middle East and Africa, Asia Pacific excluding Japan, and Japan are the main markets in the global high barrier packaging films. Of them, Asia Pacific barring Japan holds maximum share in the market because of a burgeoning packaged food market and increasing number of modern retail outlets. The region is also expected to be the most attractive in terms of CAGR of 7.9% over the forecast period. China and India are the dominant markets in the region due to burgeoning online and offline retail.

North America trails Asia Pacific, excluding Japan, vis-à-vis value in the global high barrier packaging films market. The Middle East and Africa currently contributes the least but going ahead is slated to register impressive growth because of rising dairy food consumption which is estimated to be 6.9% over the forecast period.

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Prominent participants in the global high barrier packaging films market are Ampac Hoilding LLC, Glenroy, Inc., Amcor Limited, Bemis Company, Inc., Uflex Ltd., The Mondi Group plc, Sealed Air Corporation, Celplast Metallized Products Ltd., Winpak Ltd., Toray Plastics (America), Inc., Polyplex Corporation Limited,Berry Global Group, Inc., LINPAC Packaging Limited, Bischof & Klein GmbH & Co. KG, Schur Flexibles Hoilding GesmbH, Huhtamaki Oyj, Plastissimo Film Co., Ltd., DUNMORE Corporation, and ACG Worldwide Private Limited.

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