Barrier Films Market Predicted to Surpass US$ 40.1 Billion by 2025, Says MarketsandMarkets™ Research
The barrier films market size is projected to grow from USD 3.1 billion in 2020 to USD 4.1 billion by 2025, at a CAGR of 5.3%. The barrier films market is witnessing high growth owing to demand for longer self life of food products, increasing demand for customer-friendly packaging, and rising number of retail chains in developing countries.
The global barrier films market is segmented on the basis of material into PE, PP, PET/BOPET, polyamide, organic coatings, inorganic coatings, and others. PE holds the major market share of the overall barrier films market owing to its good moisture barrier properties. The inorganic oxide coatings segment is projected to be the fastest-growing segment during the forecast period as they have excellent moisture barrier properties and are transparent and cost-effective.
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The barrier films market is segmented on the basis of end-use industry into food & beverage packaging, pharmaceutical packaging, agriculture, and others. The food & beverage end-use segment holds major market share of the overall barrier films market owing to growing need for product safety and convenience and increasing consumer preference for process & packaged food are driving the demand for barrier films in food & beverage packaging.
APAC is the largest market for barrier films market and is expected to register the highest CAGR, owing to strong demand from end-use industries, such as food & beverage packaging and agriculture, in the region. This dominance is attributed to the high demand from food & beverage, pharmaceutical, and agriculture end-use industries in China, Japan, and India, among others. The rising demand from emerging economies and trend toward sustainability are creating growth opportunities for the market.
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Berry Global Inc. (US), Amcor Plc (Australia), Sealed Air (US), Raven Industries (US), Toppan Prnting Co., Ltd. (Japan), Cosmo Films Ltd. (India), Jindal Poly Films Ltd. (India), Dupont Teijin Films (US), Uflex Ltd. (India), and Sumitomo Chemical Co., Ltd. (Japan) are the key players operating in the barrier films market.
Berry Global, Inc. (US) is one of the major providers of engineered materials, nonwoven specialty materials, and plastic consumer packaging. The company is focused on providing high-quality custom-made solutions. In April 2017, Berry Plastics Group, Inc. changed its name to Berry Global, Inc. It serves barrier films through its consumer packaging international and consumer packaging North America segments. The company offers barrier films made from EVOH, HDPE, LLDPE, or PP. The company’s engineered materials division recently expanded with the acquisition of AEP Industries Inc. (US), a key player in flexible plastics packaging with an enriched portfolio of agricultural films and custom films in North America. Berry Global Group has a strong global presence, with more than 130 facilities.
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Amcor Plc (Australia) was formerly known as Australian Paper Manufacturers (APM). The company is a global packaging manufacturer that offers innovative and flexible packaging solutions. It offers plastic packaging film, metal, and glass packaging for several industries, such as food & beverage, medical, household, industrial goods, pharmaceutical, and tobacco. The company operates through two business segments, flexibles and rigid packaging. It offers barrier films through its flexibles business segment.
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