According to a new market research report from MarketsandMarkets, "Barrier Films Market by Material (PE, PET, PP, Polyamide, Organic Coatings, Inorganic Oxide Coatings), End-Use Industry (Food & Beverage Packaging, Pharmaceutical Packaging, Agriculture), and Region (North America, APAC, Europe) - Global Forecast to 2025," the barrier films market size is estimated at $3.1 billion in 2020 and is projected to reach $4.1 billion by 2025, at a CAGR of 5.3%.
The report states that the barrier films market is witnessing high growth owing to demand for a longer shelf-life of food products, increasing demand for customer-friendly packaging and a rising number of retail chains in developing countries.
PE is the Largest Material Segment of the Barrier Films Market
The barrier films market is segmented based on material into PE, PP, PET/BOPET, polyamide, organic coatings, inorganic coatings and others. PE holds the major market share of the overall barrier films market owing to its moisture barrier properties. The inorganic oxide coatings segment is projected to be the fastest-growing segment during the forecast period due to the moisture barrier properties, transparency and cost-effectiveness.
Food & Beverage is the Largest End-Use Industry Segment of the Barrier Films Market
The barrier films market is segmented on the basis of end-use industry into food and beverage packaging, pharmaceutical packaging, agriculture and others. The food and beverage end-use segment holds major market share of the overall barrier films market owing to the growing need for product safety and convenience, and an increasing consumer preference for process and packaged food is driving the demand for barrier films in food and beverage packaging.
APAC is the Largest and Fastest-Growing Market for Barrier Films
APAC is the largest market for barrier films and is expected to register the highest CAGR, owing to strong demand from end-use industries such as food and beverage packaging and agriculture in the region. This dominance is attributed to the high demand from food and beverage, pharmaceutical and agriculture end-use industries in China, Japan and India, among others. The rising demand from emerging economies and trend toward sustainability are creating growth opportunities for the market. The report lists Berry Global Inc. (U.S.), Amcor Plc (Australia), Sealed Air (U.S.), Raven Industries (U.S.), Toppan Printing Co., Ltd. (Japan), Cosmo Films Ltd. (India), Jindal Poly Films Ltd. (India), Dupont Teijin Films (U.S.), Uflex Ltd. (India), and Sumitomo Chemical Co., Ltd. (Japan) as the key players operating in the barrier films market.
Visit MarketsandMarkets for more information.