$43.85 Billion Barrier Film Packaging Market - Global Growth, Trends and Forecasts 2020-2025 - ResearchAndMarkets.com

The "Barrier Film Packaging Market - Growth, Trends and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The barrier film packaging market was valued at USD 30,312.51 million in 2019 and is expected to reach USD 43,859.36 million by 2025, registering a CAGR of 6.4% during the period of 2020-2025.

The growth of the barrier film market is augmented by the huge demand for high-performance films, owing to the rising barrier requirements in multiple end-user industries. Improvements, particularly in processing technologies, are expected to support the increasing use of barrier films for suitable applications and low-cost production.

Packaging applications for food are expected to account for a major share of the barrier film market. This can be attributed to the rising trend of down-gauging, which has supported the shift from rigid to flexible packaging. Strong incentives from retailers, producers, and consumers to increase product shelf life and reduce wastage of packaging material, along with the rising preference for fresh foods, such as meat, fruits, vegetables, and seafood, have increased the demand for barrier films.

Furthermore, Pharmaceutical and medical products make up one of the largest markets for high barrier films. This market is expected to grow at a strong pace, based on increased healthcare spending and new drug formulations that require higher barrier packaging.

Among the materials, PET is expected to witness an increase in use, due to its ability to be metalized by vapor deposition of metals, which further improves the barrier against oxygen, water vapor, and aroma loss. LCP (liquid crystal PET) is an emerging PET film for high gas barrier applications.

Moreover, developments in barrier films offer adequate measurements at the low levels of permeability required for organic photovoltaics and OLEDs.Barrier films are designed to safeguard electronic components, such as transistors, electronic circuits, and other electronic products, from degradation caused by moisture/oxygen. Flexible barrier films enclose flexible, organic, and printed electronics to save them from corrosion, without affecting their performance and functionality.

However, recycling challenges with flexible packaging products and higher operational costs are hindering the growth of the market.

Key Market Trends

Food Industry to Augment the Market Growth

  • Protection, preservation, maintaining, and extending the shelf-life of food products are the primary challenges faced in the food industry.
  • Food products are affected due to both intrinsic parameters, such as pH, preservatives, and water activity, as well as extrinsic parameters, like temperature, humidity, and gaseous environment. Barrier film packaging solution allows mitigating these challenges.
  • Barrier film is extensively used for products, like bakery goods, biscuits, frozen foods, pet food, chips and snacks, meat and dairy products, and dry fruits in the food industry.
  • Moreover, companies are manufacturing barrier film packaging solutions that provide high emphasis on developing 100% recyclable products to promote a circular economy in the packaging industry. For instance, Innovia Films recently launched its new series of transparent barrier film packaging solutions for cereal bars, biscuits, snacks, dried fruits, nuts, tea, and coffee. These products are designed with standalone mono film or to be used in laminated construction so that they can be recycled readily.
  • Consumer, today, are focusing on convenience and purchase grab-and-go products rather than bulk buying; this is resulting in high demand for packaged food. The trend of grab-and-go food and snacks is driving the demand for barrier film packaging solutions in the food industry.

Competitive Landscape

The barrier film packaging industry is highly fragmented, with market incumbents, such as Amcor Limited, Sealed Air Corporation, Winpak Limited, and other companies. The market incumbents have been identified to adopt powerful competitive strategies, characterized by acquisitions, partnerships activities, a strong emphasis on R&D, and innovative activities.

Some of the keys players in the market are Amcor PLC, Sealed Air Corporation, UFlex Limited, Mondi Group, Winpak Limited, among other.- Jan 2019 - Mondi invested in its Styria, Austria, plant to further boost its ability to develop safe, clean, eco-friendly liners for Flexible Intermediate Bulk Containers by installing new equipment at Styria to make high-barrier, side-gusseted tubes for FIBCs. This also enables the company to make these films in a variety of structures, like from PE to PE/PA, and PE/EVOH to seven-layered PE/PA/EVOH structures, Investment in Europe indicates the company's confidence in the business opportunity in the region.

  • April 2019 - Huhtamaki started flexible packaging manufacturing in Egypt. The investment marks the company's entry into manufacturing flexible packaging in Africa. Moreover, the product manufactured would be exported to other African countries and Europe.

Market Dynamics

Market Drivers

  • Replacement of Rigid Packaging Formats
  • Increasing Biodegradable Barrier Films

Market Restraints

  • Environmental Legislations For Recycling

Industry Value Chain Analysis

Industry Attractiveness - Porter's Five Force Analysis

Technology Snapshot

Companies Mentioned

  • Amcor PLC
  • Berry Global Inc.
  • Sealed Air Corporation
  • UFlex Limited
  • Huhtamaki Group
  • Mondi Group
  • Winpak Limited
  • Constantia Flexibles Group GmbH
  • Proampac LLC
  • Polyplex Corporation Limited
  • KM Packaging Services Limited
  • Glenroy Inc.

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