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Global Barrier Shrink Films Market is foreseen to attain a valuation of US$4.5 bn by the completion of 2022
The global barrier shrink films market is envisaged to not depend solely on one particular end-use industry, for instance, food and beverage, but it could be pampered with growth prospects also birthing in other industries such as cosmetics and personal care.
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Barrier shrink film manufacturers are looking to tap into the best properties of different materials such as polyolefin to offer high impact resistance, high anti-fog capacity, leak proof, water resistance, and other advantages.
The report presented herewith has taken into account the opinions, estimations, and studies of industry experts and large market names to formulate projections and forecasts about the global barrier shrink films market. It offers buyers the best of market research and analysis to help them understand crucial aspects of the market.
Global Barrier Shrink Films Market: Dynamics
One of the widest applications of barrier shrink films is anticipated to be fresh meat packaging. Technological innovation has always been key for the development of some of the finest ranges of barrier shrink films that could be suitable for the production and secondary processing of fresh food packaging. The launch of ultra-high performance, lightweight, and new generation products for fish and fresh meat vendors could provide a strong impetus to the growth of the world barrier shrink films market. As the food industry pioneers its quest for innovative food products to satisfy demanding customers, the need for packaging that extends shelf life, enhances protection, and improves product visibility is projected to increase.
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Global Barrier Shrink Films Market: Segmentation
The international barrier shrink films market is prophesied to be segregated as per type of product, end use, type of material, and type of barrier. In respect of product, the market could be classified into flowpacks, vacuum bags, shrink forms, chubs, and shrink wraps. Amongst these, vacuum bags are anticipated to hold a larger share in the market while expanding at a CAGR of 5.8%.
On the basis of end use, the international barrier shrink films market could be divided into food and beverages, healthcare, electronics, cosmetics and personal care, and other manufacturing end users. By material, there could be segments such as polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), polyamide (PA), ethyl vinyl alcohol (EVOH), and others. In terms of barrier, the market is projected to be segmented into low, medium, high, and ultra-high barriers.
On the geographical front, the international barrier shrink films market could include Asia Pacific Excluding Japan (APEJ) as a major region boasting of a colossal share. Between 2017 and 2022, APEJ could gain 255 basis points (BPS). Japan and the Middle East and Africa (MEA) are expected to grow sluggishly in the coming years. However, North America and Europe could exhibit a positive growth in the market. Not to forget, Latin America is forecast to be another market important for barrier shrink films.
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Global Barrier Shrink Films Market: Competition
The worldwide barrier shrink films market is predicted to witness the presence of leading companies such as Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd., Kureha Corporation, Coveris Holdings S.A., Schur Flexibles Group, Flavorseal Llc., Buergofol GmbH, Flexopack S.A., and Premiumpack GmbH.
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