Barrier Packaging Market Share Is Expected To Reach US$ 12.7 Mn By 2023

Posted by johnson on March 11th, 2019

The latest market report published by Credence Research, Inc. “Barrier Packaging Market, By Type, Material, Application and Technology - Growth, Future Prospects and Competitive Analysis, 2016 - 2023,” the global barrier packaging market was valued at US$ 8.5 Bn in 2015, and is expected to reach US$ 12.7 Bn by 2023, expanding at a CAGR of 5.1% from 2016 to 2023.

Browse the full Barrier Packaging Market - Growth, Future Prospects and Competitive Analysis, 2016 – 2023 report at https://www.credenceresearch.com/report/barrier-packaging-market

Market Insights:

Growing inclination of consumers towards flexible packaging options and convenience are driving the demand for efficient packaging solutions. Packaging manufacturers are thus, developing advanced products to cater to the demand among end users. In addition, there has been an increased demand for high barrier packaging films, which offer advanced protection serving varied industries such as pharmaceutical, food and consumer products. Among the aforementioned end users, barrier packaging market in food is anticipated to exhibit highest growth during the forecast period. This is attributed to increased consumption of packaged and convenience food products, rising adoption of convenient and sustainable packaging to offer ease of use to the consumer and new product development among manufacturers. Barrier Packaging market is further anticipated to record significant growth for consumer goods, followed by healthcare segment.

Of different barrier packaging types, stand-up pouche segment is expected to record highest growth in the forthcoming years. Stand-up pouches are more advantageous as compared to conventional packaging options such as metal tins and glass bottles in terms of better sterilization time, flavor and taste preservation, nutritional value maintenance, durability, energy saving, enhanced shelf-life and others . This is intended to increase adoption of stand-up pouches among end users, thus fuelling the barrier packaging market growth.

Among different regions, Western Europe is anticipated to dominate the market in terms of revenue share contribution, followed by Asia Pacific and North America. Asia Pacific is expected to record highest CAGR during the forecast period. Growing awareness among consumers regarding healthy food leading towards packaging information, improving supply chain in countries such as China and India, technological advancements, are some of the key factors bolstering the barrier packaging market growth in Asia Pacific.

Competitive Insights:

Some of the prominent players identified in the barrier packaging market include ALPLA-Werke, Amcor Ltd., DuPont, Berry Plastics, Sealed Air Coporation, Sigma Plastics Group, The 3M Company (Printpack 3M), Daibochi Plastic & Packaging Industry Bhd., AMPAC, Wipak, Charter Nex Films, Toray Plastics (America), Mondi Plc, Innovia Films, Celplast Metallized Products, LINPAC Group, Schur Flexibles Group, RPC Group and Prairie State Group.

Key Trends:

• Increasing demand for packaged food products leading towards huge potential in food and beverages industry along with a prime focus on baby food products
• Availability of products catering to the demand for advanced barrier properties, shifting consumer preferences, extended shelf life, varied packaging sizes
• North America serves as largest consumer of packaging, owing to increased consumption of food products