Increased Consumption of Processed Foods & Beverages, Fuels the High Barrier Packaging Films Market Growth
Market Research Future published a half-cooked research report on Global High Barrier Packaging Films Market that contains the information from 2017 to 2023. Global is expected to grow with the CAGR of approximately 6.2% from 2017 to 2023.
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High barrier packaging films provide protection to sensitive material from damage stimulus such as moisture, oxygen, and dust, which can degrade the quality of products. These films are a suitable substitute for food packaging. They increase shelf life, serve as printing substrate and reduce the need for preservatives. High barrier films in flexible packaging are often used to ensure product integrity and maintain quality in case of water permeation moisture, oil, oxygen, aroma, flavor, gas, and light.
High barrier packaging films market is driven by various factors such as increased consumption of processed foods & beverages, and innovation in packaging. The higher disposable income in developing countries increases the purchasing power. Hence, consumer dependence on processed, pre-cooked and packed foods, here, will increase. As a result high barrier packaging films market has been impacted, positively. However, the market has various restraints that hinder the market growth such these films are susceptible to degradation, difficult to recycle and expensive. These factors serve as major constraints to the growth of their market.
On the basis of application, the market has been segmented as food & beverage, pharmaceutical, personal care & cosmetics, and others. Food & beverages dominates the application segment of the market, in terms of market share, and is expected to be the fastest growing application segment. Increasing population along with growing demand for food and beverages, drives the growth of the market. The food products packaged using these films contain less preservatives than canned food products, which has increased their acceptance among health-conscious consumers. Transparent barrier packaging film is a preferred material for the packaging of meat, sausages, vegetable, and some beverages in the food industry. Pharmaceutical application is expected to contribute significantly during the forecast period.
The global high barrier packaging films market is projected to grow at a CAGR of 6.2% during the forecast period.
Asia Pacific region dominates the global high barrier packaging films market
On the basis of regions, global high barrier packaging films market is segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific has the biggest high barrier packaging films market, and is followed by North America. It is expected to be the fastest growing region in the market. Growing industrialization, and urbanization in developing countries such as China and India, provides boost to the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China accounts for the largest share of the Asia Pacific high barrier packaging films market.
North America & Europe are the other major regions for the market. Increasing demand for consumer goods, and packaged food in these regions, drive the growth of the market. Additionally increasing applications for high barrier film packaging in the regions, also boosts the growth of the market. Latin America and Middle-East & Africa regions are also expected to have high growth during the forecast period, due to rising demand from the e-commerce sector.
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The prominent players in the global high barrier packaging films market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Ampac Packaging LLC (U.S.), The Mondi Group (Austria), Sealed Air Corporation (U.S.), Constantia Flexibles Group GmbH (Austria), Berry Plastics Corporation (U.S.), Coveris Holdings S.A. (Luxembourg), Sonoco Products Company (U.S.), Wipak Walsrode GmbH & Co. KG (Germany), Huhtamaki Group (Finland), Printpack Inc. (U.S.), Linpac Packaging Limited (U.K.), and Sigma Plastics Group (U.S.).
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.
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