The market for packaging barrier films is anticipated to expand significantly between 2022 and 2032, growing at a CAGR of 3.4% to reach US$ 26.3 Bn by 2030.
As long as there is a serious need for safe food and beverage packaging, the global market for packaging barrier films is predicted to experience a significant uptick. In the upcoming years, the risk of food spoiling during handling and storage is anticipated to drive the acceptance of packaging barrier films. Barrier films are the best type of storage for packaged foods because of their impermeable nature.
The justification for these films has grown stronger over time because to the development of durable materials that shield contents from oxygen and other gases. Barrier packing films are a great option because they don’t react with packaged food.
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Analysts project that meat and fish will be the growing end use of packaging barrier films are they have the least oxygen transmission rate. The growing consumption of frozen food, lifestyle that dictate easting convenient food, and booming restaurant industry are expected to fuel the growth of this market in the coming years.
List of Key Players Covered in Packaging Barrier Films market are:
· Mondi Plc
· Huhtamaki Oyj
· Winpak Ltd.
· Atlantis Pal Co. Ltd.
· Glenroy, Inc.
· Uflex Ltd.
· Plastissimo Film Co., Ltd.
· Bischof & Klein GmbH
· Cosmo Films Ltd.
· Jindal Poly Films Ltd.
“Packaging barrier films market is expected to see a remarkable rise in the coming years as food consumption patterns change drastically. With increasing investments in research and development to manufacture stronger films, manufacturers are expected to lure bigger consumer base. In the coming years, manufacturers are expected to focus on building a circular economy by ensuring these films are recycled and reused,” says FMI analyst.
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Global Packaging Films Market Study and Findings
- Packaging barrier films are highly preferred in the pouches and shrink films packaging. Hence, these application segments are expected to account for around 58% of the collective market share by the end of forecast period.
- Food and beverages segment to account for significant uptake of packaging barrier films as demand for frozen food reaches all time high
- Pharmaceutical industry to contribute as hospital admissions remain high throughout the globe
- Emerging economies of India and China to be key raw material suppliers
- LDPE to remain highly used material as it offers exceptional barrier to moisture, strength, and flexibility