PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424914
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424914
Global Barrier Films Market is valued at approximately USD 32.26 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% during the forecast period 2023-2030. Barrier films are specialized packaging materials designed to protect products from external elements such as moisture, oxygen, light, and contaminants. These films are widely used in industries such as food, pharmaceuticals, electronics, and personal care helps in preserving product quality and freshness. Barrier films are essential for safeguarding items during storage, transportation, and display by extending the shelf life of perishable goods and preventing spoilage. The Barrier Films Market is expanding because of factors such as the rise in demand for food products with long shelf life, growing adoption of customer-friendly packaging, the surge in the number of retail chains in developing countries, growing investments in packaging, and soaring use of agricultural films.
In addition, the surge of e-commerce and online grocery platforms has significantly increased the need for durable barrier packaging solutions. In the online retail sector, barrier films play a major role in safeguarding products throughout diverse handling and shipping processes, addressing the unique challenges posed by the digital retail landscape. According to Statista, retail e-commerce in the United States generated revenue of USD 768 billion in 2021, which is anticipated to reach USD 1,329.7 billion by 2025. Also, the Indian Brand Equity Foundation (IBEF) stated that during 2022, the Indian e-commerce sector remained valued at USD 74.8 38.5 billion in 2017 and is likely to grow to almost USD 200 billion by 2024 and USD 350 billion by 2030. Thus, the rising inclination towards e-commerce and online retail is acting as a catalyzing factor for the growth of the Barrier Films Market over the estimated period. Moreover, the rising emphasis on the introduction of biodegradable barrier films, as well as the increasing applications of barrier films in the electronics industry present various lucrative opportunities over the forecast years. However, the several issues associated with the recycling of multilayer films and the susceptibility to degradation are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Barrier Films Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing awareness regarding hygiene, rapidly evolving packaging trends and technologies, along with the exponential growth of the various end-use industries. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. This is primarily attributed to the region's significant population growth and rapid urbanization, resulting in increased consumption of various packaged goods such as food, beverages, personal care products, and pharmaceuticals. The escalating demand for barrier films is driven by the necessity to protect and preserve these products during storage and transportation. Also, there is an increase in the demand for packaged food and beverages in the region, as they offer convenience, safety, and extended shelf life, contributing to the growing use of barrier films. The rise of e-commerce and online grocery platforms further amplifies the need for effective barrier packaging solutions, requiring robust protective films to withstand various handling and shipping processes.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable