Barrier Film Market is Expected to Grow at a CAGR of 6.59% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Barrier Film Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Barrier Film market has shown significant growth in the historic period and is anticipated to reach 2.10 million tonnes, growing at an impressive CAGR of 6.59% during the forecast period. As the demand for customer-friendly packaging, longer shelf-life food products, and retail chain market is rapidly increasing in developing nations, the demand for Global Barrier Film is expected to increase in the upcoming years. The production of Barrier Film is linked with the safety standards on the environment before it can be introduced in the market which enhances the compliance standards.

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Barrier film is basically a lamination that protects the flexible packaging. Barrier films comprises multiple layers which provides separate gas and moisture barriers, structural support and protection, and heat-sealable layers. It is laminated on packages to protect from foreign substances or products such as liquid vapour, oxygen, aroma, oil, flavour, gas, or light. Barrier Films are chosen over conventional films as they are resealable zippers & sliders, have faster machining speed, increased heat tolerance, extend shelf life, etc. which makes them perfect for packaging application.

Based on the end-use industry, the market of Barrier films is segmented into food & beverage packaging, agriculture, pharmaceutical packaging, and others. Among these, the Food & beverage industry held the major share in the global market in 2020 due to the growing need for product safety and increasing consumer preference for packaged food which is further driving the demand for barrier films. On the basis of type, the Barrier Films market is categorized into Organic Coatings, PE, PET, PP, Inorganic Oxide Coatings, Polyamide, and others. PE holds the dominant share of the barrier films market, globally as it is cost-effective and has excellent moisture barrier properties. The production of Biodegradable and renewable cellulose-based Barrier films by several companies is boosting the Barrier films market. Multi-layer film barriers are generally preferred over single-layered especially in pharmaceutical products where specific environment conditions are required.

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In 2020, due to the onset of COVID-19, the global Barrier Film market was affected drastically during the pandemic as the production and manufacturing units were temporarily shut. Leading market players intentionally halted the production and various operations were closed for keeping their employee’s health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions proposed by the leading authorities, the market is anticipated to regain its growth in the coming years. Once the market regains the full function of its production unit to manufacture Barrier film, it will further show robust growth in the forecast period. However, there was a surge in the demand of Film barrier from pharmaceutical packaging during the pandemic. The demand of film barrier from the cosmetics industry is also expected to rise in the forecast period.

Region-wise, Asia-Pacific region holds the largest share of the global barrier film market. Booming packaging industry in emerging countries including China, India, Indonesia is expected to positively influence the demand of barrier films market as these films are used due to the enhanced preference for smaller packaging unit, ready-to-eat foods and online shopping. Enhanced product portfolio from major consumer goods companies in the APAC region is expected to further excel the market during the forecasted period.

According to ChemAnalyst report, Barrier Film Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in global Barrier Film market include Amcor PLC, Berry Global Inc, Mondi Group, Dupont Teijin Films, Huhtamaki group, Toppan Printing Co Ltd, Raven Industries, Cosmo Films Ltd, Jindal Poly films Ltd, UFlex Ltd, Sumitomo Chemical Co Ltd and Others.

“Being linked to the downstream applications in Pharmaceutical, Food & Beverage, Agriculture and others, the Barrier Film Industry has shown significant growth in the past and the trend is likely to continue in the forecast period as well. It is expected that India is going to witness the fifth position in world's largest consumer market in the upcoming years. In addition, growing per capita income in various countries is predicted to elevate the demand for barrier films in the next ten years. The government’s guidelines regarding the corona virus pandemic affected the global supply chain logistics and production unit, which caused immediate shortage of key feedstock chemicals leading to increased prices of Barrier Film. Meanwhile, China serves as the key growth region as well with sufficiently installed capacities and developing technologies. With new competitors emerging across the Asian Barrier Film market, it is extremely important to keep a focus on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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