LONDON--(BUSINESS WIRE)--Technavio’s latest report on the transparent barrier packaging films market in North America provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the transparent barrier packaging films market in North America for 2017-2021 provides a detailed industry analysis based on the end-users (food industry, healthcare industry, and consumer goods) and geography (the US, Canada, and Mexico).
Transparent barrier packaging films are used for providing transparency to the product along with protection from dust, gases, moisture, and aroma. Technavio analysts forecast the transparent barrier packaging films market in North America to grow to USD 4.11 billion by 2021, at a CAGR of more than 5% over the forecast period.
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The top three emerging trends driving the transparent barrier packaging films market in North America according to Technavio transportation and logistics research analysts are:
- Increasing usage of sustainable packaging
- Rising demand for PLA films
- Growing demand for stretch and shrink films
Increasing usage of sustainable packaging
The vast amounts of packaging waste are creating a high demand for sustainable, eco-friendly, and disposable packaging. In 2016 alone, more than USD 600 million revenue was generated from the sales of bioplastics in the US, which is expected to grow at a yearly rate of more than 18% during the forecast period.
“Vendors in the market are meeting the demand for disposable packaging by providing innovative sustainable solutions for packaging. Bemis, a key vendor, launched Liquiflex Advance for foodservice pouches, which provided thin films using 30% less material and producing 96% less waste,” says Shakti Jakhar, a lead analyst at Technavio for packaging research.
Rising demand for polylactic acid (PLA) films
The increasing demand for biodegradable packaging solutions in North America has had a positive effect on PLA films in the transparent barrier packaging films market. This is due to PLA being a key biopolymer to produce biodegradable, transparent films.
WACKER, a global chemical company, introduced VINNEX 8880, the latest version of the PLA biopolymer, to overcome the bitterness inherent to PLA and increase the flexibility of the material to reduce the crackling sound. Similarly, Amcor launched Ceramic-PLA technology that was based on the thermoplastic polymer. In this technology, a coating of silicon oxide is applied to produce highly transparent films with an excellent barrier against gases.
Growing demand for stretch and shrink films
“A stretch film is used to wrap around a load of products, whereas a shrink film loosely covers the product, and it shrinks after heat is applied to it. These films are affordable, provide UV protection properties, and made of polyethylene and polyolefin plastics,” says Shakti.
An increasing demand for stretch and shrink films is observed in North America, which is driving the transparent barrier packaging films market. Technavio analysts estimate the stretch and shrink films market in the region will grow at a compounded rate of more than 3.6% during the forecast period.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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