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How much is the High Barrier Packaging Films industry worth worldwide?

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How much is the High Barrier Packaging Films industry worth worldwide?

July 01
03:35 2021
How much is the High Barrier Packaging Films industry worth worldwide?

High Barrier Packaging Films Market
The global market for high barrier packaging films was valued at over US$ 20 Bn in 2018 and is projected to expand at a CAGR of 7.8% during the forecast period (2018-2028), technological development in packaging has enabled new and convenient invention of flexible packaging such as retort pouches which need high barrier packaging films.

Having a thickness of 25 um or more, high barrier packaging films are used extensively for providing high oxygen and moisture protection. As per a Transparency Market Research, the global high barrier packaging films market will chart an impressive CAGR (Compound Annual Growth Rate) of 7.8% in the forecast period of 2018-2028. Besides their use in a vast number of industries contribute positively to growth of the market – Food and Packages, Pharmaceuticals, Chemicals.

It is noteworthy that the global high barrier packaging films market is fragmented and notable players in the landscape include mcor Limited (Australia), Bemis Company, Inc., American Pouch, Sealed Air, Ampac Oliver-Tolas, Krehalon, HPM Global, Inc., Flair Flexible, Constantia Flexibles, Janco Inc. Winpak Limited, MULTIVAC, Dupont, Wipak Group, and BERNHARDT Packaging, among others. Players focus on product improvement through innovation and investment in Research and Development. Mergers and acquisitions and partnerships and collaborations are also important strategies that players resort to.

Food and Beverages Market Generating Demand for High Barrier Packaging Films Market

The demand is rising due to need to provide fresh food with longer shelf-life. As lives get busier, with less time to get down on grocery shopping as often as one would like to in order to consume nutritious food, demand for these barrier films are increasing. Besides, due to rise in disposable incomes, food items are also transported long distances, sometimes across continents. This again generates demand for suitable high barrier packaging films.

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Growth in Pharmaceuticals Pushing Global High Barrier Packaging Films Market on an Upward Growth Trajectory

It is worth noting here that as Pharmaceutical market braces itself for expansion and growth, it will too create demand in the high barrier market as composition of the drug to maintain the required form needs superior packaging, and this again requires high-barrier packaging films so active ingredients or critical salts are not lost in storage or transportation, thereby, ensuring efficiency of the drugs.

It is worth noting here that with the rise of geriatric population and the incidence of chronic diseases, the market is set to see a stellar growth chart. Already, there is a steady pipeline of drugs and biologics and the fact that investment in Research and Development (R&D) is increasing steadily, there would be more demand for high barrier packaging films over the forecast period.

Europe and North America to Hold a Lion’s Share of the Global High Barrier Packaging Films Market

Owing to great demand and presence of prominent market players, Europe will hold a large chunk of market share, followed by North America. Besides, a high disposable income average promotes growth of global high barrier packaging films market. However, it is noteworthy here that the highest CAGR will be charted by the Asia Pacific (APAC) region.

Growing emphasis on manufacturing smaller pack size-compatible flexible packaging solutions to create growth opportunities for high barrier packaging films

In recent years, consumers have become more educated about environmental issues and prefer lighter weight packaging products like high barrier packaging films in order to prioritize portable packaging and reduce waste. Consumers across the developed market have shifted to smaller pack packaging purchase which is reseal able and easy to carry like high barrier packaging films. Manufacturers are thus adopting high barrier packaging films which eliminates the need for secondary material of packaging a product.

Inclination towards case ready packaging products driving the growth of high barrier packaging films market
Over the last few years high barrier packaging films which render convenience of peel able and the demand for case ready packaging products are growing. Products falling in case ready packaging products categories are meat, cheese, poultry and fish products are key factors driving the growth for high barrier packaging films market. Predominantly such products are stored in plastics trays covered with high barrier packaging films are reusable.

For Instance, Schur Flexibles Holding GesmbH offers innovative high barrier packaging films for processed and case ready products. EVOH based shrink films are primary choice of material which are excellent properties to restrict Oxygen Transmission Rate (OTR), heat and UV rays.

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Rising demand for retort pouches is expected to drive the growth for high barrier packaging films market

Technological development in packaging has enabled new and convenient invention of flexible packaging such as retort pouches which need high barrier packaging films. It has added value to high barrier packaging films packaging, coupled with an additional implementation such as reseal able zippers, sliders, spouts, and handles.

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