Barrier Films Market to Reflect Tremendous Growth Potential with A CAGR of 5.5%BY 2030
Key Market Developments:
Within the pharmaceutical industry, there is a growing demand for barrier films, specifically those with moisture-resistant properties. Notably, on February 2, 2022, Honeywell expanded its range of Aclar films by introducing Aclar Accel, a thermoformable barrier film specifically designed for medical packaging. This innovative solution provides businesses with a cost-effective alternative, extending the shelf life of products and offering superior moisture resistance compared to cold form foil in Aluminum Blister Packaging.
Companies are continually introducing innovations in packaging solutions to align with changing consumer preferences. For example, on April 12, 2022, Toppan's GL Barrier unveiled a new grade of barrier films that combines high-barrier performance with light shielding. This alternative to aluminum foil in pharmaceutical and food product packaging claims to reduce CO2 emissions by 15% during production, contributing to the overall revenue growth of the market.
Get a sample copy of the Barrier Films Market report: https://www.reportsanddata.com/download-free-sample/2144Market Dynamics:
- Driving Forces:
- Increasing demand in the food & beverage sector, accompanied by advancements in packaging technologies.
- Consumer preference for convenient, grab-and-go packaged foods, stimulating the need for barrier film solutions.
- Growing environmental awareness leading to a demand for sustainable packaging solutions.
- Initiatives by startups, such as Melodea's introduction of VBseal, an eco-friendly packaging option, contributing to market growth.
- Restraints:
- Concerns regarding environmental impact and challenges in recycling, with regulations tightening globally.
- Limitations of barrier packaging, including susceptibility to degradation and recycling difficulties, hindering market growth.
- Type Insights:
- Metalized barrier films segment expected to dominate the market, offering high moisture barrier for prolonged shelf life of packaged food.
- End-use Insights:
- Food & beverage segment predicted to hold the largest revenue share, driven by the rising demand for prepackaged foods and advanced packaging technologies.
- Material Insights:
- Polyethylene Terephthalate (PET) segment poised to lead in revenue share, attributed to its high performance, heat resistance, and durability.
- Regional Insights:
- North America led the market in 2022, driven by increased utilization in the food & beverage and pharmaceutical sectors.
- Competitive Landscape:
- The global barrier films market is competitive and fragmented, with key players focusing on portfolio expansion, R&D, and strategic alliances.
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