Research Nester released a report titled “Ultra-High Barrier Films: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global ultra-high barrier films market in terms of market segmentation by material type, product, end-user industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ultra-high barrier film packaging market is anticipated to record a notable CAGR over the forecast period, i.e., 2021-2029, owing to the various applications of ultra-high barrier films in the healthcare sector as these films are resistant to heat, air and moisture. Additionally, the growing need for constant innovation of advanced packaging solutions in the food and beverage industry for the packaging of products, such as, spices, is estimated to generate significant growth opportunities for the market.
Based on the material type, the market is branched into polymers, aluminum, oxides and others, out of which, the highest share is estimated to be held by the polymers segment during the forecast period. This can be attributed to the easy availability of different grades of polymers and their low production costs. Moreover, the availability of various polymer types, such as, polypropylene (PP), ethylene vinyl alcohol (EVOH), polyethylene terephthalate (PET), and others is anticipated to promote the growth of the segment.
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The market is further segmented by end-user industry into food & beverages, pet food, pharmaceuticals, electronics and others, among which, the pharmaceuticals segment is expected to be the largest revenue generating segment by the end of 2029, owing to the increasing utilization of ultra-high barrier films for the packaging of medicines and drugs.
Geographically, 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. Among these, the market in the North America is predicted to hold a major share over the forecast period owing to the high demand for the films for packaging of medicines and other disposable surgical tools amongst the pharmaceutical manufacturers in the region, and for the presence of leading pharmaceutical players in nations such as the United States and Canada. The market in the Asia Pacific region is predicted to experience considerable CAGR during the forecast period owing to the rising demand for ultra-high barrier films amongst the manufacturers of spices, tea and coffee, among others, for the packaging of these products.
Rising Need for Hygienic Packaging of Medical Products
The demand for medical products, such as test kits, drugs, hospital supplies and diagnosis machines, among others has significantly increased as the COVID-19 pandemic has shifted the focus of both public and private healthcare players on improving their healthcare facilities. This has further resulted in an increase in demand for safe and hygienic packaging materials, which is projected to drive the market growth notably throughout the forecast period. Moreover, the growing demand for contactless packaging for consumer goods, pharmaceutical products and e-commerce goods amongst the end-users is estimated to boost the growth of the global ultra-high barrier films market.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, the initial investment for the manufacturing of these films is significantly high. Additionally, these films are heavier than cling film, which makes it less favorable for the packaging of food materials and other consumer goods. These are some of the factors estimated to hamper the global ultra-high barrier films market growth.
This report also provides the existing competitive scenario of some of the key players of the global ultra-high barrier films market which includes company profiling of Berry Global Inc., Amcor plc (NYSE: AMCR), Sealed Air Corporation (NYSE: SEE), Mondi plc (LON: MNDI), Celplast Metallized Products Limited, Winpak Ltd. (TSE: WPK), Taghleef Industries Group, Glenroy, Inc., Toray Industries Inc. (TYO: 3402), and ACG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ultra-high barrier films market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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