PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1400522
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1400522
Barrier films market size is projected to grow at over 5.5% CAGR from 2023 to 2032, on account of the increasing demand for extended shelf life and enhanced protection of packaged goods, particularly in the food and pharmaceutical industries. The growing emphasis on sustainable packaging solutions and the greater need to prevent oxygen and moisture permeation is boosting the adoption of advanced barrier films. For instance, in August 2023, Camvac introduced Camfoil, its new multi-layered metallized laminate for offering a combination of light, moisture, and gas barriers for high performance throughout the supply chain.
The rising technological advancements in barrier film materials and manufacturing processes are also increasing the appeal for barrier films. The influx of regulatory initiatives for promoting eco-friendly packaging is leading to the rising awareness among consumers about the product benefits. The growing concerns regarding preservation and sustainability will also boost the product demand.
The industry is segregated into material, type, packaging type, end-use industry, and region.
Based on material, the market share from the polymer-based barrier films segment is projected to depict 5.3% CAGR from 2023 to 2032. The growth can be attributed to the versatility and effectiveness offered by polymer materials in creating barriers against oxygen, moisture, and other contaminants. The high demand for flexible and sustainable packaging solutions coupled with the rising advancements in polymer formulations will fuel the product adoption in various industries.
Barrier films industry share from the agriculture segment will rise at 7.4% CAGR through 2032, owing to the increasing adoption of advanced packaging materials for crop preservation. Barrier films offer enhanced protection against external elements, including moisture and pests, contributing to improved agricultural product quality and shelf life. The growing demand for sustainable and efficient packaging solutions will also boost the segment growth.
Regionally, the Europe barrier films market is projected to expand at 4.9% CAGR between 2023 and 2032. The growth can be attributed to the influx of stringent regulations for promoting sustainable packaging solutions and the increasing demand for barrier films in the food and pharmaceutical sectors. The rising technological advancements and the growing need for extended shelf life will further fuel the product demand across the region.