DUBLIN--(BUSINESS WIRE)--The "Barrier Films Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The barrier films market is expected to register a CAGR of 5.53%, during the forecast period 2019 - 2024. The increasing demand for barrier films can be attributed to the increased demand from various end-user industries, such as pharmaceutical packaging, food & beverage packaging.
- With the rapid growth of large retail chains, it has greatly benefitted the barrier films market. These retail chains are expanding the market for packaged food, as well as electronics and pharmaceutical items, also, companies are increasingly using barrier films owing to an increased focus on cost reduction and shelf-life extension.
- Supermarkets/hypermarkets are becoming more favored by consumers across the globe due to their wide range of product offerings and various choice of premium brands, unavailable at individual outlets. Thus, these supermarkets/hypermarkets are witnessing increased adoption in major cities and are also expanding their presence in developing markets, which will further expand barrier films demand in these countries.
- Moreover, 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.
Scope of the Report
Barrier films are usually multilayer films that are being designed to be impenetrable to gas migration to protect the integrity and quality of the product packed inside it. These films are used to protect various types of product ranging from food to pharmaceuticals to electronics.
Key Market Trends
Food Industry to Hold a Major Share in the Market
- The changing food habits associated with the busy lifestyle of people creates a demand for packaged food. Also, the increasing demand for packaged food can be attributed to the improving lifestyles of people, owing to the increase in disposable income, which is driving the market studied.
- The snacking trend across the globe is driving consumers to purchase on-the-go food items, while also demanding healthy and improved flavor options. This has driven grocery stores, restaurants, and supermarkets to welcome this trend by offering a variety of packaged foods and ready-to-eat meals, and has further created the demand for flexible and convenient packaging with high barrier properties.
- Grab-and-go food (GNG) refers to pre-packaged, ready-to-eat food items often sold at a self-service refrigerator or something similar, which is expected to act as a significant driver for the growth of packaging forms with longer shelf life and greater barrier properties.
- With the increasing revenue of the food packaging market, it will drive the growth of the barrier films market as they are being increasingly used in the industry for packing various food products.
North America Occupies the Largest Market Share
- The North American region is witnessing a change in the consumer lifestyle trends, who are demanding convenience and portability of products, especially in the food sector, which directly drives the barriers films market.
- The food industry accounts for more than 5% of the US GDP and is still growing, owing to the greater demand for packaged foods. With the advantages like ease of use at home and on-the-go flexibility, have become necessary factors which drive the purchase of packaged foods.
- The U.S flexible packaging industry is witnessing a better growth as compared to the rigid packaging market, owing to the unique solutions provided for many packaging challenges. While considering the full life cycle of flexible packaging, it has superior sustainability attributes including using less material, less energy and creating less GHG emissions and waste, thus, making it a more suitable form of packaging. All these factors have contributed significantly to the growth of barrier films in this region.
The barrier films market is competitive owing to the presence of small and large vendors. The market is moderately concentrated slowly moving towards the fragmented stage. Key strategies adopted by the major players are product innovation and mergers and acquisition. Some of the key players in the market are Amcor Limited, Bemis Company, Berry Global among others.
- April 2019 - Amcor has launched AmLite Ultra Recyclable, its first packaging product made from the company's revolutionary, more sustainable high-barrier polyolefin film. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Replacement of Rigid Packaging Formats
4.3.2 Growing Retail Barrier Films Market
4.4 Market Restraints
4.4.1 Environmental Legislations For Recycling
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Oxygen and Other Gas
5.1.4 Other Types
5.2 By End-user Industry
5.2.2 Pharmaceutical and Healthcare
5.2.4 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor Limited
6.1.2 Bemis Company
6.1.3 Berry Global
6.1.4 Ampac Holdings, LLC
6.1.5 Clondalkin Group Holdings B.V.
6.1.6 Constantia Flexibles Group
6.1.7 Innovia Films Limited
6.1.8 Winpak Ltd.
6.1.9 Sealed Air Corporation
6.1.10 Glenroy, Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/exiqzt