Global Ultra-High Barrier Films Market Highlights over 2020-2029
Ultra-high barrier films market is anticipated to witness a notable CAGR during the forecast period, i.e., 2021-2029, owing to the high moisture and gas barrier properties of the films which make them suitable for packaging of medicines, aromatic oils, fat rich content, and other food and beverages products. The increasing demand for ultra-high barrier films in packaging of pharmaceutical products is estimated to be one of the major growth factors for the market. The exceptional properties of these films to preserve fragrance, flavor and taste is anticipated to increase their demand for packaging of spices, dry fruits and essential oils amongst these product manufacturers.
The global ultra-high barrier films market is segmented by end-user industry into food & beverages, pet food, pharmaceuticals, electronics and others, out of which, the pharmaceuticals segment is foreseen to garner maximum revenue by the end of 2029, on the back of growing demand for the films to package tablets, capsules and other form of medicines. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of material type, the market is segmented into polymers, aluminum, oxides and others, out of which, the polymers segment is estimated to hold the leading share over the forecast period on the back of easy availability and affordability of polymers, such as, polypropylene (PP), ethylene vinyl alcohol (EVOH), polyethylene terephthalate (PET), and others.
Global Ultra-High Barrier Films Market Regional Synopsis
On the basis of regional analysis, the global ultra-high barrier films market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in the North America is anticipated to hold the largest share over the forecast period, primarily on account of the presence of numerous pharmaceutical companies in the region. Moreover, the growing healthcare and pharmaceutical industry, which requires ultra-high barrier films for the packaging of medicines and other disposable surgical tools, is estimated to promote the growth of the market in the region.
Alternatively, the market in the Asia Pacific region is predicted to grow at a considerable CAGR during the forecast period owing to the tremendous untapped market potential in the developing countries, backed by the easy availability of cheap labor and raw materials for manufacturing these films. Moreover, the growing requirements for advanced packaging solutions for tea, coffee, spices and dry fruit amongst the manufacturers in countries including India, China, Bangladesh and Sri Lanka among others, is expected to further promote the market growth over the forecast period. In the year 2018-19, India exported around 1 million tons of spices and spice products that valued over USD 2.5 billion.
The global ultra-high barrier films market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global ultra-high barrier films market includes the following segments:
By Material Type
- Polymer
- Polypropylene (PP)
- Ethylene Vinyl Alcohol (EVOH)
- Polyethylene Terephthalate (PET)
- Others
- Aluminum
- Oxides
- Aluminum Oxides
- Silicon Oxides
- Others
- Others
By Product
- Bags
- Pouches
- Films
- Wraps
- Blister Packs
- Others
By End-User Industry
- Food & Beverages
- Pet Food
- Pharmaceuticals
- Electronics
- Others
Growth Drivers
- Technological Advancements and Rising Demand for Better Packaging Methods
- Rising Trend for Customizable and Flexible Packaging
- Growing Concern towards Developing Ecofriendly Solutions to Minimize Generation of Plastic Wastes
Restraints
- High Initial Investment for the Production of Ultra-High Barrier Films
- Heavier Weight of the Films
Top Featured Companies Dominating the Market
- Berry Global Inc.
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