Barrier films play a crucial role in preserving the integrity of products packed within and are thus used in a variety of industries that require high quality packaging such as pharmaceuticals, electronics and food products. Thus, it is also significant to pick the right film for a particular product.
Some of the factors that should be judges before opting for a film are OT (Oxygen Transfer Rate) and the purpose of packaging. For instance, food items require less oxygen as oxygen spoils food by breeding bacteria.
The market is fragmented and competitive owing to presence of a large number of players and prominent names in the market landscape include Amcor Limited, Bemis Company, Berry Global among others.
In June of 2019, a consumer packaging giant was created with the acquisition of Bemis Company Inc., a manufacturer of flexible packaging based out of Wisconsin by Amcor, Melbourne based company. The combined revenues of the two in the year 2018 were USD 13.4 billion.
It is important to note here that as work days get longer, the will and time to prepare elaborate and nutritious means dipped. People now demand packaged and processed food and the demand for these is driving the demand for appropriate packaging, driving growth in barrier films market.
Besides, with globalization and rapidly increasing disposable incomes, getting products from far off land – everything from pharmaceuticals to electronics to food items – is now possible. But, shipping of products require superior packaging and this created new opportunities for players in the barrier films packaging, which they will leave no stone unturned to make the most of.
Thus, it comes as no surprise that the global barrier films market is set to chart a steady CAGR (Compound Annual Growth Rate) over the period 2019 to 2027.
Global Barrier Films Market: Overview
Barrier films refer to those multilayer films that made impassable to gas migration to secure the quality and integrity of products packed inside it. These films protect products ranging from pharmaceuticals to electronics to food products. Barrier films are an inseparable element of food packaging solutions; particularly used in products that are thin plastic-based. It is vital to opt for the right type of film for the specific application that one might have.
Before selecting a barrier film, it is necessary to examine the oxygen transfer rate (OTR). It is a measurement of the amount of oxygen that a barrier film allows to pass through. In food packaging applications, generally lesser the oxygen the better it is. As such high barrier films are quite popular as they come with oxygen permeability of less than 10cc.
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Global Barrier Films Market: Notable Developments
In June 2019, Melbourne-based Amcor Ltd. completed its acquisition of Bemis Company, Inc., Wisconsin-based manufacturer of flexible packaging. This completed deal creates a global consumer packaging giant with combined revenues of $13.4 bn in 2018. Bemis Company, Inc is now a wholly owned subsidiary of Amcor and the combined entity will now operate as Amcor Plc.
The noted players that are operational in the global barrier films market are ProAmpac LLC, Berry Global, Amcor Limited, and Sealed Air Corporation.
Global Barrier Films Market: Key Trends
Below-mentioned market trends and opportunities mark the global Barrier Films Market:
Hectic Lifestyle of People to Stimulate Growth of Global Barrier Films Market
Hectic lifestyle of people has led to ever-changing food habits and such a lifestyle generates the need for packaged food, which can be eaten on the go or at home, but without the hassle of cooking. Besides, Improvement in the lifestyle and increase in disposable income has also led to the growing consumption of packaged food. Such factors are driving the global barrier film market.
Grab-and-go food (GNG) refers to ready-to-eat, pre-packaged food products that are often sold at a self-service refrigerator or somewhat similar outlets. Such products require longer shelf life with quality being intact and thus it acts as an important driver for global barrier film market.
With the increasing sales of the food packaging market, it is expected that global barrier films market will experience growth too as they are increasingly used in the food packaging industry for packing different types of food products.
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Global Barrier Films Market: Geographical Analysis
The North American region is experiencing a major change in the trends of consumer lifestyle, who are demanding portability and convenience of products, particularly in the food industry, which directly steers the barriers films market towards growth.
In the US, the food industry is responsible for more than 5% of the GDP. The segment is still growing, thanks to the rising demand for packaged foods. Packaged food products come with the benefits like on-the-go flexibility, ease of use and as such have become an essential component driving the procurement of packaged foods.
In the U.S, flexible packaging industry is experiencing a much better growth when compared with the rigid packaging market. This is due to the outstanding solutions offered for several packaging challenges. Whilst taking the full life cycle of flexible packaging into consideration, it comes with better sustainability attributes such as using less energy and material, and emitting less greenhouse gas and waste. Therefore, it is a better option of packaging. All these elements have substantially contributed towards the growth of barrier films market in the US.
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