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Oxygen Barrier Films & Coatings for Dry Food Market By Regional Statistics & Growth Forecast 2020-2025
Oxygen Barrier Films & Coatings For Dry Food Market
Metallized oxygen barrier films & coatings segment has soared in popularity and registered over 35% of the overall material demand in 2018. Attractive appearance, high permeability pertaining to oxygen and gas will remain influential for the growth of the metallized films segment.
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The global oxygen barrier films & coatings for dry food market size will potentially surpass US$ 1.4 bn by 2025.
Based on packaging type, pouches and bags segment reigned supreme by registering over 3/5th of the overall demand for oxygen barrier films & coatings for dry food in 2018. Notably, pouches and bags are highly preferred in products such as savory snacks, baked goods, breakfast cereals and dehydrated soups, to name a few. Meanwhile, lid stock and wraps are highly sought-after in ready-to-eat product packaging.
Sustained demand for convenient packaging that is in line with usage facility and better storage will underscore oxygen barrier films & coatings for dry food market expansion. Further, prevention from spoilage and ease in handling have made the oxygen barrier films & coatings highly sought-after in food landscape. Nevertheless, upsurge in disposable income and growing traction to buy packaged foods have had positive influence on oxygen barrier films & coatings for dry food market outlook.
With respect to application, baked goods will likely offer lucrative opportunity to prominent players as the trend is slated to be triggered by changing consumer preference and temptation towards impulsive purchase.
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Robust marketing strategies to propel product differentiation by ameliorating shelf-appearance and acknowledging attractive packaging will bolster growth in oxygen barrier films & coatings business. In a bid to expand penetration, high barrier films have become indispensable to shield sensitive products from vapor, moisture and gases.
Stakeholders are eyeing APAC as an investment hub as the region is buoyed by soaring population, marked GDP growth and presence of prominent players. As such, APAC oxygen barrier films & coatings industry is expected to garner CAGR of over 6% through 2025. However, North America and Europe are also expected to remain major regional grounds for the growth of oxygen barrier films & coatings market share.
Rising awareness towards state-of-the-art packaging solution and cost-efficient nature have made oxygen barrier films and coatings highly sought-after in food industry. Nevertheless, oxygen barrier films leverage weight reduction and helps in reducing transportation overhead.
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The competitive spectrum of global oxygen barrier films & coatings for dry food market is rather fragmented, where sustainability and product quality have been paramount for material development and improvement. Predominant companies such as Honeywell, American Pouch, Dupont Tejin Films, Amcor and Bemis are heavily investing in raw material advancement to propel functionality and implement blended materials.
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