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.
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:
Our in-depth analysis of the global ultra-high barrier films market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The need for safe packaging for medicines and other disposable surgical tools is one of the major factors driving the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.
High production cost of ultra-high barrier films is one of the major factors estimated to hamper the market growth.
The market in the North America will provide the highest growth opportunities owing to the presence of major pharmaceutical companies that need ultra-high barrier films for packaging their products.
The major players in the market are Toray Industries Inc., Amcor plc, Sealed Air Corporation, Mondi plc, Celplast Metallized Products Limited, Winpak Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material type, product, end-user industry, and by region.
The polymers segment is anticipated to hold largest market size over the forecast period on the back of ease of availability of raw materials for manufacturing various polymers.
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