Likewise other industries, COVID 19 also taken a toll on High Barrier Packaging Films market with around 11.69% decline in its revenue in 2020 as compare to 2019
High Barrier Packaging Films are laminating sheets made of different polymers used in the flexible packaging industry. High Barrier Packaging Films prevent food products from water, oil, gas, vapor, oxygen, light, etc. It also helps in retaining the properties of food products intact. High Barrier Packaging Films can be produced from different materials according to the requirement of various applications.
The global High Barrier Packaging Films market is expected to witness a CAGR of 5.75% during the forecast period. The revenue generated by the global High Barrier Packaging Films market in 2021 was over USD 10,472.43 million and is expected to generate revenue worth USD 15,741.76 million in 2028. Therefore, the incremental growth opportunity offered by the global High Barrier Packaging Films is estimated to be USD 94.88 billion between 2022 and 2028.
Food and beverage, Pharmaceutical and medical, Personal care and cosmetics, and Others are major application industries for High Barrier Packaging Films. Food packaging is the leading application market with over two-thirds share in total revenue generation of High Barrier Packaging Films in 2021. Over the past few years, it has been observed that consumer preference has shifted towards packaged or processed food products which in turn triggered the demand for flexible food packaging. As a result, high Barrier Packaging Films are growing in demand in the food packaging industry worldwide. The global food packaging market has crossed a valuation of USD 300 billion in 2021. This signifies the growth potential of High Barrier Packaging Films in food packaging.
Bags & pouches, Stand-up pouches, Tray lidding film, forming webs, wrapping film, and Blister pack base webs are major product types of High Barrier Packaging Films. All these products are a significant part of flexible packaging. Flexible packaging is made up of various polymer materials which are tough and durable and facilitate convenience in distribution and transportation. Hence, demand for High Barrier Packaging Films is increasing at a rapid pace.
LLDPE, LDPE, HDPE, BOPP, BOPET, CPP, PVC, PES, PA, and EVOH are significant polymers used in the manufacturing of High Barrier Packaging Films. Linear low-density polyethylene is the leading material used in manufacturing High Barrier Packaging Films. It held over 20% share in total High Barrier Packaging Films consumed in 2021. The aforementioned materials exhibit excellent barrier properties against oil, gas, moisture, oxygen, etc. This, in turn, improves and extends the shelf life of food & beverages. Polyethylene is the most widely used material for manufacturing High Barrier Packaging Films as it is cost-effective compared to other materials and is available in abundance. Three types of polyethylene, including LLDPE, LDPE, and HDPE, collectively held over 60% share in 2021.
Polyethylene (PE) is the most widely used polymer in the manufacture of plastic films & sheets. PE is non-degradable and adversely impacts the environment. PE products fill about 20%-40% of U.S. landfills. The raw material used in producing films is derived from crude oil and releases a high volume of toxic gases into the environment during production and use.
Polymer nanocomposites, Multilayer packaging film recycling, ORMOCERS, Sustainable coatings for high-barrier packaging film, Melamine based high-barrier film, Besela high-barrier film, and Others are significant technologies used in High Barrier Packaging Films. Sustainable coatings for high-barrier packaging film are dominating the technology segment with the highest share in total revenue generation of the High Barrier Packaging Films industry and held over 25% share in 2021.
A huge untapped market for high barrier packaging films in emerging economies is expected to provide a growth window for manufacturers. The global average per capita consumption of high barrier packaging films is around one kilogram. However, except for Japan and China, most of the emerging economies in the Asia Pacific have very low per capita consumption rates of high barrier packaging films. For example, while the U.S. held over 80% share in North America, UK, Germany, and France had over 50% in Europe in 2021.
Leading players in global High Barrier Packaging Films include Amcor Limited, Bemis Company, Inc., Taghleef Industries, Jindal Poly Films, American Pouch, Sealed Air, Ampac Oliver-Tolas, Krehalon, and HPM Global, Inc. Prominent players are focused on market share consolidation through acquisition and expansion. As a result, the market is highly fragmented, with the top five players holding just 23% share in 2021.
Likewise other industries, COVID 19 also taken a toll on High Barrier Packaging Films market with around 11.69% decline in its revenue in 2020 as compare to 2019
Asia Pacific is the largest regional market with highest share in the total revenue generation of High Barrier Packaging Films consumed in 2021
Growing food packaging industry and rising demand for flexible packaging is fuelling the demand for High Barrier Packaging Films market
Food & Beverage segment dominated the High Barrier Packaging Films market in 2021 with over 70% share
LLDPE (Linear low-density polyethylene) was the largest end-user of High Barrier Packaging Films in 2021 with over 25% share
Report Attribute | Details |
---|---|
Market Value in 2021 | USD 10,472.43 million |
Market Value in 2028 | USD 15,741.76 million |
CAGR | 5.75% between 2021 and 2028 |
Benchmarking Year | 2021 |
Past data | 2016 – 2021 |
Forecast period | 2022 – 2028 |
Segments covered | Product Bags & pouches Stand-up pouches Tray lidding film Forming webs Wrapping film Blister pack base webs Technology Polymer nanocomposites Multilayer packaging film recycling ORMOCERS Sustainable coatings for high-barrier packaging film Melamine based high-barrier film Besela high-barrier film Material LLDPE - Linear low-density polyethylene LDPE - Low Density Polyethylene HDPE - High Density Polyethylene BOPP - Biaxially Oriented Polypropylene BOPET - Biaxially-oriented polyethylene terephthalate CPP - Cast Poly Propylene PVC - Poly Vinyl Chloride PES - Polyester PA - Polyamide EVOH - Poly(Ethylene Vinyl Alcohol) Application Food and beverage Pharmaceutical and medical Personal care and cosmetics Others |
Major Players Analysed | Amcor Limited, Bemis Company, Inc., Taghleef Industries, Jindal Poly Films, American Pouch, Sealed Air, Ampac Oliver-Tolas, Krehalon and HPM Global, Inc. |
Cost of the Report | Write us at [email protected] |