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A recent report published by Infinium Global Research on high barrier packaging films market provides in-depth analysis of segments and sub-segments in the global as well as regional high barrier packaging films market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high barrier packaging films market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global high barrier packaging films market. The global high barrier packaging films market was valued at about USD 15 billion in 2022 and is expected to reach over USD 24 billion in 2030, with a CAGR of around 6% during the forecast period 2023-2030.
The packaging industry has witnessed a remarkable breakthrough with the introduction of high barrier packaging films, which utilize a range of materials such as polyethylene, polypropylene, polyethylene terephthalate (PET), and polyvinyl chloride. These advanced films offer superior barrier properties against moisture, gas, and temperature compared to traditional packaging materials. Furthermore, high barrier packaging films are known to maintain the quality attributes of the packaged products, such as taste, texture, color, and consistency. High barrier packaging also enhances the absorption and bioavailability of nutrients in food products, which is superior to conventional plastic or paper packaging. Apart from the food and beverage industry, high barrier packaging films are increasingly being adopted in the pharmaceutical and agriculture sectors for their products.
The market for high-barrier packaging films is witnessing growth owing to the escalating demand for packaged food and beverages. The rise in the demand for convenient food and ready-to-eat meals has resulted in a substantial increase in demand for high-barrier packaging films. These films are highly effective in preserving the freshness and quality of food and beverages while extending their shelf life. The growth of the pharmaceutical industry also contributes to the expansion of the market, as high-barrier packaging films are extensively utilized to safeguard drugs from moisture, oxygen, and other environmental factors. Although the market growth is affected by the fluctuating prices of raw materials, the increasing demand for customer-friendly packaging presents lucrative growth opportunities.
The Asia Pacific region is projected to dominate the global high barrier packaging films market owing to its substantial consumer base. The region is expected to provide immense growth opportunities, given the easy availability of raw materials. The food and pharmaceutical industries in the region are expanding rapidly, and the healthcare sector is receiving increasing government budget allocations, which will further propel market growth. In contrast, North America holds a significant share of the global high barrier packaging films market. The region's robust packaged food and pharmaceutical industries, coupled with the booming e-commerce industry, are driving the demand for high barrier packaging films in North America.
The report on global high barrier packaging films market covers segments such as packaging type, end user, and material. On the basis of packaging type, the sub-markets include bags & pouches, lids, stretch & shrink wraps, laminated tubes, and others. On the basis of end user, the sub-markets include food & beverage, pharmaceuticals, agriculture, chemicals, and others. On the basis of material, the sub-markets include plastic, metal, and oxides.
The report provides profiles of the companies in the market such as Amcor plc, Berry Global Inc., Sealed Air, Mondi, Glenroy, Inc., Ampac Packaging, Toray Plastics (America), Inc., Constantia Flexibles, Huhtamäki, and Cosmo Films Limited.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the high barrier packaging films market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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