Flexible packaging solutions for high-barrier packaging films include bags, laminated tubes, lids, pouches, and shrink films. Customers' increasing requirement for product safety and convenience are enhancing the launches of pouches in high-barrier packaging films packaging type. The growing popularity of ready-to-eat food encourages consumers to shift toward packaged products. In all these applications, high-barrier packaging films are widely used.
According to Data Bridge Market Research, the Global High Barrier Packaging Films Market was valued at USD 23,517.2 million in 2021 and is expected to reach USD 39,784.77 million by 2029, registering a CAGR of 7.8% during the forecast period of 2022-2029.
"Increasing Customer Inclination towards the Packaged Food Surge the Market Growth"
The high-barrier packaging films are seeing high demand from the food and beverage industry with the higher consumption and demand for processed and ready-to-eat packaged foods. Furthermore, with the increasing disposable income, working professionals and students are ready to spend money on packed and convenient food products ready to eat, making the high-barrier packaging films market grow soon. There is increasing demand for freezer-to-microwave, ready-made packed meals, ready-to-cook and eat, and processed foods, which are easy to open, carry, and require less time for preparation. Thus, this factor boosts the market growth.
What restraints the growth of the Global High Barrier Packaging Films Market?
"Price Fluctuation of Raw Materials"
Numerous high-barrier packaging films are manufactured using several raw materials. Some of these are plastic materials such as PE and polypropylene and metals such as aluminum, among others. These materials are hard to recycle, non-biodegradable, and harmful to the environment, which includes water and land. The selection of the raw material is mainly based on the end-usage application of the barrier films. All these major factors impede the growth of the market.
Segmentation: Global High Barrier Packaging Films Market
The global high barrier packaging films market is segmented on the basis of type, material, packaging type, and end-user.
- On the basis of type, the high barrier packaging films market is segmented into non-woven metalized films, clear films, organic coating films, inorganic oxide coating films, and others.
- On the basis of material, the high barrier packaging films market is segmented into plastic, aluminum, oxides, and others.
- On the basis of packaging type, the high barrier packaging films market is segmented into pouches, bags, lids, shrink films, laminated tubes, and others.
- On the basis of end user, the high barrier packaging films market is segmented into food, beverages, pharmaceuticals, electronic devices, medical devices, agriculture, chemicals, and others
Regional Insights: North America is expected to dominate the Global High Barrier Packaging Films Market
North America dominates the market due to the increasing popularity of metallic films as a high-barrier film for various end uses in the region. The increasing consumer preference for high-barrier film packaging solutions is boosting market growth.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 due to the increasing popularity of metallic films as high-barrier films for various end uses. Also, the growing adoption of high-barrier packaging films in the pharmaceutical and agriculture industry is also helping to enhance the market's growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-high-barrier-packaging-films-market
Recent Developments in Global High Barrier Packaging Films Market
- In 2022, Sealed Air announced that it had completed the acquisition of Foxpak Flexibles Ltd. under SEE Ventures with its initiative to invest in disruptive technologies and business models to increase the company's growth
- In 2022, Toppan extended its GL Barrier range with a mono-material PE barrier designed to package liquid products in a sterile, durable, and easy-to-recycle material. To meet the growing demand" in the European and North American markets, the company claims that vapor deposition has previously imposed a challenge with PE packaging and that its new Barrier supersedes current designs of its kind
The Prominent Key Players Operating in the Global High Barrier Packaging Films Market Include:
- Amcor plc (Switzerland)
- Mondi (U.K.)
- Sealed Air (U.S.)
- Jindal Poly Films Limited (India)
- Toppan Inc., (Japan)
- Kureha Corporation (Japan)
- HPM Global, Inc. (South Korea)
- Flair Flexible Packaging Corporation (U.S.)
- MULTIVAC (Germany)
- DuPont (U.S.)
- BERNHARDT Packaging & Process (France)
- Schott (Germany)
- Dow (U.S.)
- Sonoco Products Company (U.S.)
- Bemis Company Inc. (U.S.)
- Uflex Limited (India)
Above are the key players covered in the report, to know about more and exhaustive list of global high barrier packaging films market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global High Barrier Packaging Films Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
