Barrier Films Market worth $4.1 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 9, 2020 /PRNewswire/ -- According to the new market research report "Barrier Films Market by Material (PE, PET, PP, Polyamide, Organic Coatings, Inorganic Oxide Coatings), End-Use Industry (Food & Beverage Packaging, Pharmaceutical Packaging, Agriculture), and Region (North America, APAC, Europe) - Global Forecast to 2025", published by MarketsandMarkets™, the Barrier Films Market size is estimated at USD 3.1 billion in 2020 and is projected to reach USD 4.1 billion by 2025, at a CAGR of 5.3%.
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The Barrier Films Market is witnessing high growth owing to demand longer shelf-life of food products, increasing demand for customer-friendly packaging, and a rising number of retail chains in developing countries.
PE is the largest material segment of the Barrier Films Market.
The Barrier Films Market is segmented based on material into PE, PP, PET/BOPET, polyamide, organic coatings, inorganic coatings, and others. PE holds the major market share of the overall Barrier Films Market owing to its good moisture barrier properties. The inorganic oxide coatings segment is projected to be the fastest-growing segment during the forecast period as they have excellent moisture barrier properties and are transparent and cost-effective.
Food & beverage is the largest end-use industry segment of the Barrier Films Market.
The Barrier Films Market is segmented on the basis of end-use industry into food & beverage packaging, pharmaceutical packaging, agriculture, and others. Food & beverage end-use segment holds major market share of the overall Barrier Films Market owing to growing need for product safety and convenience and increasing consumer preference for process & packaged food are driving the demand for barrier films in food & beverage packaging.
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APAC is the largest and fastest-growing market for Barrier Films Market.
APAC is the largest market for Barrier Films Market and is expected to register the highest CAGR, owing to strong demand from end-use industries, such as food & beverage packaging and agriculture, in the region. This dominance is attributed to the high demand from food & beverage, pharmaceutical, and agriculture end-use industries in China, Japan, and India, among others. The rising demand from emerging economies and trend toward sustainability are creating growth opportunities for the market. Berry Global Inc. (US), Amcor Plc (Australia), Sealed Air (US), Raven Industries (US), Toppan Printing Co., Ltd. (Japan), Cosmo Films Ltd. (India), Jindal Poly Films Ltd. (India), Dupont Teijin Films (US), Uflex Ltd. (India), and Sumitomo Chemical Co., Ltd. (Japan) are the key players operating in the Barrier Films Market.
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