The market study covers the present scenario and growth prospects of the global barrier resins market for 2017-2021. Barrier resins are a class of polymers that maintain the quality, and flavor of food, enhance the shelf life to food products, and restrict entry of gases such as carbon dioxide, oxygen, volatile flavor nitrogen compounds, water vapor, and aromatic compounds. The food and beverage and pharmaceuticals industries currently dominate the global barrier resins market in terms of consumption.
According to Hitesh Bhatia, a lead analyst at Technavio for chemicals and materials research, “Growing consumer use of ready-to-eat packages, boil-in-the-bag, and stand-up-pouches is expected to aid the rise in demand for barrier resins in the food and beverage sector. This trend is particularly evident in APAC, which is projected to be the largest market for barrier resins during the forecast period.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global barrier resins market:
- Need for extended shelf life in packaging sector
- Growing economies: A boon for barrier resins
- Growing demand for barrier resins in pharmaceutical packaging
Need for extended shelf life in packaging sector
The packaging industry has grown at a rapid pace with the growing innovations in the food processing industry. Packaging has become an indispensable part of food processing over the last four decades. The main objective of any packing material is to contain the product, preserve it, increase its shelf life without compromising on the quality of the product, and provide ample sturdiness for hassle-free transportation and distribution.
Barrier resins increase the shelf life of packaged foods by preventing the passage of atmospheric air. The airtight seals provided by these materials prevent dry foods from absorbing moisture and wet foods from losing moisture. This prevents oxidative spoilage of foods and eliminates the use of additives that prevent oxidation. They also maintain the flavor and quality of the packaged content.
Growing economies: A boon for barrier resins
The demand for packaged food products in the developing countries is strong, making these growing economies the chief contributors to the global barrier resins market. Consumers are increasingly moving toward packed, ready-to-eat, and microwaveable products that help to conserve time. An increase in the demand for packaged food will lead to the growth of the global barrier resins market.
Key vendors of barrier resins are establishing production facilities in the emerging markets due to low costs and availability of skilled labor which is also anticipated to help the growth of global barrier resins market.
Growing demand for barrier resins in pharmaceutical packaging
Advanced manufacturing processes, technological innovations, and strategic alliances of companies have resulted in the rapid growth of the pharmaceutical packaging industry. Barrier materials, particularly PVDC and EVOH are primarily used for protecting pharmaceutical products against light, moisture, oxygen, biological contamination, mechanical damage, and counterfeiting.
“The pharmaceutical packaging industry is expected to post the highest growth in the emerging economies, such as the BRICS nations during the forecast period. The growth in these countries is fostered by the increased disposable incomes and growth in healthcare facilities,” says Hitesh.
Large population base, favorable demographics, growing population, and high life expectancy are the key drivers for the growth of barrier resins in India and China. Hence, pharmaceutical companies are aligning their growth strategies on the rapidly expanding emerging markets, particularly the BRICS nations.
Browse Related Reports:
- Global Rigid Foams Market 2017-2021
- Global Plastic Fillers Market 2017-2021
- Global Polystyrene Foam Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like metals and minerals, specialty chemicals, and industrial gases. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.