Packaging Barrier Films Market Accounting for US$ 26 Bn by 2027
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Global Packaging Barrier Films Market: Future Estimations
Exploration of packaging barrier films point to a steady growth of the global packaging barrier films market in the coming years. According to this market study, the global barrier packaging films market is expected to show steady growth during the assessment period 2017-2027 and is poised to register a CAGR of 5.22%. The global market is evaluated to show a value of about US$ 15.8 Bn by 2017 and is estimated to reach a value of above US$ 26 Bn by 2027 end.
Global Packaging Barrier Films Market: Dynamics Influencing the Global Market
Several factors are responsible to impact the growth of the global packaging barrier films market. Packaging barrier films are widely used in the packaging of processed foods, which preserve the shelf life and maintain the quality of the food items by inhibiting external agents from coming in contact with the food products. EVOH has emerged as a cost efficient input material for the manufacturing of superior packaging barrier films, which also provides resistance against heat and chemical contents, thus enhancing the performance functionality of packaging barrier films. Moreover, the macro trends in food and beverage industry are piloting the dynamics for the growth of the packaging barrier films to a great extent.
Rising collaborations between stakeholders in the food and beverages value chain is a major aspect steering the growth of this market. The MAP (Modified Atmospheric Packaging) Technology has spurred the demand for packaging barrier films. The MAP properties allows different levels of permeability for atmosphere in order to modify internal environment of the package. Also, manufacturers, are focusing on emerging economies for expansion as these regions are filled with opportunities. These aspects support the growth of the global packaging barrier films market. However, limited scope of recycling due to multi-layer structure of the packaging barrier films and sluggish economic prospects in the developed regions have affected the demand of packaging barrier films to certain extent.
Global Packaging Barrier Films Market: Segmental Evaluation
The global packaging barrier films market is segmented by application type, material type, barrier type, end use and film type. Each of these segments are analysed across key regions to get a brief market understanding.
By product type, inorganic coating films segment is projected to grow at the highest value CAGR of 6.27% during the forecast period, whereas organic coating films segment is anticipated to dominate the global market with respect to market share. Food and beverages segment by end use is expected to dominate the global market by reflecting a high value share during the 2017-207 period. also, this segment is poised to register a higher CAGR of 5.36% throughout the period of assessment, 2017-2027
By application, sachets segment shows high potential as it grows at a higher CAGR compared to other segments. The pouches segment leads the global market by reflecting a high value estimation of about US$9.3 Bn by the end of 2027. Asia Pacific region is highly lucrative, dominating the global market in terms of value as well as growth rate during the forecast period. This region is poised to grow at the highest CAGR of 6.0% during the period of forecast
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Global Packaging Barrier Films Market: Competitive Scenario
The global packaging barrier films market research report involves a detailed analysis on the key players in the market. Key companies such as Amcor Limited, Bemis Company, Inc., Uflex Ltd., Sealed Air Corporation, Mondi Plc, Huhtamaki Oyj, Winpak Ltd., Atlantis Pak Co. Ltd., Glenroy, Inc., Plastissimo Film Co., Ltd., Bischof & Klein GmbH, Ampac Holdings LLC, Schur Flexibles Holding GesmbH, Linpac Packaging Limited, Clondalkin Group Holdings B.V., Accredo Packaging, Inc., Sigma Plastics Group, Inc., Krehalon Industrie B.V., Supravis Group S.A., Sudpack Verpackungen GmbH & Co. KG, Flexopack SA, Lietpak, VF Verpackungen GmbH and KOROZO Ambalaj San.ve Tic A.S., are profiled in the market study.
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