LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global transparent barrier packaging film market report. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
Transparent barrier packaging films are used in more than 15,000 products for packaging purpose in across industries varying from food to consumer goods. There is high demand from these industries in developing countries; thus, these countries should be the key target area for vendors.
Transparent barrier films are an ideal replacement for aluminum foil packaging and can penetrate in this market. Aluminum foils have same packaging applications in industries such as food, pharmaceutical, and consumer goods and the market for aluminum foil is growing at a CAGR of 6%. Transparent barrier films have some advantages over aluminum foil such as clear packaging and compatibility with microwave oven.
Competitive vendor landscape
The global transparent barrier packaging film market is fragmented because of the presence of several local vendors such as Daibochi Plastic, Innovia Films and international vendors such as Amcor Limited and Berry Plastics. There is intense competition among the market vendors in terms of product differentiation, portfolio, and pricing.
“Big vendors such as Amcor, Berry Plastics, and Bemis are acquiring companies to expand their product line and to strengthen their position and presence in the market. For instance, in March 2015, Berry Plastics and Klockner Pentaplast announced a market alliance to provide sealed packaging solutions,” says Sharan Raj, a lead logistics research analyst from Technavio.
The competitive environment in this market is expected to intensify in the future, with an increase in product extensions, innovations in technology, and M&A. In October 2015, Mitsubishi Polyester Film, Inc., a subsidiary of Mitsubishi Plastic, announced the opening of a manufacturing plant in the US. It also planned to invest USD 100 million in the plant to increase the production of its polyester film product HOSTAPHAN.
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Top five transparent barrier packaging film market vendors
Flexible packaging is part of this company’s Living and Industry business segment. In fiscal year 2015, the sales in the company's Living Environment segment rose by 0.7% compared to the previous year, to USD 2.8 billion. The low growth rate was due to less demand from processed food manufacturers and high raw material prices. Good Layer (GL) Film is one of the key products of company in the transparent barrier film market. It is used for various products such as foods, beverages, electronics devices, and other industrial products.
Mitsubishi Plastic manufactures and supplies a wide range of plastic products specifically for the electronics, packaging, industrial, logistics, building, medical, automobile, and agricultural sectors. The company operated over 11 domestic plants and employed over 9,000 people as of March 2016. For FY2015, the company generated a revenue of USD 4.78 billion. In October 2015, Mitsubishi Polyester Film, Inc., a subsidiary of Mitsubishi Plastic, announced the opening of a manufacturing plant in the US. The company planned to invest USD 100 million in the plant to increase the production of its polyester film product HOSTAPHAN. The plant is expected to start operations from mid-2017.
Amcor supplies a wide range of rigid and flexible packaging products specifically for the beverage, food, personal and home care, healthcare, and tobacco industries. The company operates over 190 sites in 43 countries and employs over 29,000 people. For FY2015, the company generated a revenue of USD 9.61 billion.
Bemis focuses on manufacturing and distributing packaging products worldwide. Its products are mainly sold to customers in the food industry. Its other customers comprise companies in sectors such as chemical, medical, pharmaceutical, personal care, agribusiness, automotive, electronics, construction, and other consumer goods.
In December 2015, the company completed the acquisition of the South American rigid plastic packaging division of Emplal Participações. This deal also comprises two facilities in Brazil. This has helped the company in expanding to the South American markets.
Berry Plastics provides value-added plastic consumer packaging and engineered materials, including drinking cups, bottles, thin-wall containers, specialty films, prescription vials, adhesives, specialty closures, and corrosion protection materials. It caters to different end-markets, including food and beverage, healthcare, and personal care.
The company targets the packaging sector through its broad range of products, which helps it in strengthening its position in the market worldwide. It also produces protection solutions for its customers in multiple industries. Its wide range of solutions can be classified under categories such as medical, supermarket film, personal care, agricultural film, sheeting, and trash bags.
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