NEWARK, Del, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The global high barrier packaging films market is anticipated to exceed US$ 18.5 billion in 2023 and reach about US$ 33.6 billion by 2033. The market is projected to showcase a considerable CAGR of 3.9% during the forecast period from 2023 to 2033.
Surging e-commerce sales and shifting consumer preference toward online shopping will have a positive impact on expansion of the high barrier packaging films market globally. Online shopping is easy and highly convenient, as compared to traditional shopping.
Due to busy lifestyles, limited options, and hectic lives of working professionals, they often tend to purchase several products online. Ability to order and receive goods online, anytime & anywhere with a wide range of options, has increased demand for online shopping.
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Numerous e-commerce companies are preferring to package their goods in high barrier films. Tear-resistant, flexible, transparent, and tamper-proof properties of high barrier packaging films can protect the product from damage, as well as from effects of the environment, thereby making them convenient for product shipping and transportation.
The market for high barrier packaging films is anticipated to expand as supermarkets and hypermarkets continue to escalate in terms of number around the world. Rising demand for transparent and lightweight packaging materials, specifically for electronic devices such as mobile and laptops, as well as food products such as fruits, vegetables, and processed foods, will drive the market. Due to their extended shelf life, ability to preserve food quality, and availability of cost-effective packaging solutions, high barrier packaging films are in high demand in hypermarkets and big retail chains.
Key Takeaways from High Barrier Packaging Films Market
- Organic coating films segment by film type is estimated to hold around 32.9% of the global high barrier packaging films market share by 2023.
- Based on material, plastic high barrier packaging films are anticipated to expand 2x the current value from 2023 to 2033.
- In terms of end user, the food category is expected to expand by 2x during the forecast period.
- By packaging type, the pouches segment is projected to expand 2.1x during the assessment period.
- The USA high barrier packaging films market is set to generate a share of around 11.9% in 2023.
“Rising demand for packaged and processed food items, as well as increasing awareness about the ability of high barrier packaging films to extend products’ shelf life would drive sales. Cost-effective and transparent films are set to be developed by manufacturers to broaden their portfolios,” says a lead analyst at Future Market Insights.
Use of High Barrier Packaging Films to Skyrocket among Cosmetics and Medical Device Companies
After the pandemic, customers have started to prioritize hygiene and cleanliness, which has had a positive impact on the global market for high barrier packaging films. Medical devices are packaged in high barrier packaging films as they shield these products from moisture during transportation and from damage.
Transparent, tear-resistant, and flexible high barrier packaging films provide enhanced device visibility. High barrier packaging films often serve as a shield and assure secure & safe transportation. Owing to their flexibility, durability, and low weight, high barrier packaging films are commonly used in the healthcare sector.
Demand for high barrier packaging films is projected to be driven by expansion of the cosmetics industry. Barrier films in the cosmetics industry not only allow for the creation of attractive packaging designs but also help to protect products from atmospheric impacts by utilizing reusable films.
Pouches, sachets, shrink films, laminated tubes, and other plastic products are few of the common types of packaging used in the cosmetics industry. Consumers prefer laminated tubes for liquid products in the cosmetics industry since they are frequently utilized. These are few factors that are supporting development of the high barrier packaging films market.
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Competition Landscape: High Barrier Packaging Films Market
Key players operating in the high barrier packaging films market are Amcor plc, Sealed Air Corp, Glenroy, Inc., Winpak Ltd., Mondi Plc, Toray Plastics (America), Inc., Berry Global, Inc., Schur Flexibles GmbH, Huhtamaki Oyj, Jindal Poly Films Ltd., Uflex Ltd., Cosmo Films Ltd., Bischof & Klein SE & Co. KG, and Plastissimo Film Co., Ltd. among others.
High Barrier Packaging Films Market Outlook by Category
By Film Type:
- Metalized Films
- Clear Films
- Organic Coating Films
- Inorganic Oxide Coating Films
By Material Type:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene Vinyl Alcohol (EVOH)
- Polyethylene Terephthalate (PET)
- Polyvinylidene Chloride (PVDC)
- Polyamide (Nylon)
- Polyethylene Naphthalate (PEN)
- Others
- Aluminium
- Oxides
- Aluminium Oxide
- Silicon Oxide
- Others
By Packaging Type:
- Pouches
- Bags
- Lids
- Shrink Films
- Laminated Tubes
- Others
By End User:
- Food
- Meat, Seafood, and Poultry
- Baby Food
- Snacks
- Bakery and Confectionery
- Pet Food
- Dairy Food
- Ready to Eat Meals
- Other Food
- Beverages
- Alcoholic Beverages
- Non Alcoholic Beverages
- Pharmaceuticals
- Electronic Devices
- Medical Devices
- Agriculture
- Chemicals
- Others
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Table of Content
1. Executive Summary | High Barrier Packaging Films Market
1.1. Global Market Outlook
1.2. Demand–side Trends
1.3. Supply–side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Cased-based Scenario
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
3.4.1. Profit Margin Analysis
3.4.2. Raw Material Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
3.4.4. End–user/ Customers
3.5. Regional Parent Market Outlook
3.6. Production and Consumption Statistics
3.7. Global Average Pricing Analysis Benchmark
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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