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.
Is something restraining your company’s growth in the Barrier Films Market? Ask for the report brochure here
Transparency Market Research offers a comprehensive understanding of the global barrier films market through this report. It offers well-researched data on various facets of the market to offer valuable business input for profit generation.
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.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Barrier Films Market here
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.