Barrier Material Market - Growth, Trends, and Forecast (2020 - 2025)
The barrier material market is expected to register a CAGR of over 6%, during the forecast period. The major factors driving the market studied include rising demand for increasing the shelf life of packaged foods.
Increasing packaging costs are expected to significantly hinder the growth of the market studied.
AsiaPacific is expected to dominate the global market, during the forecast period.
Rising awareness about food safety is likely to act as an opportunity in the future.
Key Market Trends
Growing Demand from Food and Beverage Industry
Barrier materials are used for protecting food products, such as meat and meat byproducts, fish and seafood, dairy products, fruits, and vegetables, among others, from outside environment, such as watervapor, gas, odor, microorganism, light, and dust, which causes contamination, damage, and deterioration in quality and taste.
Barrier materials play an important role in extending the shelf life of food products, thereby preventing spoiling of food products, reducing wastage, and ensuring the delivery of goods to the consumer in the best condition appropriate for their use.
Change in tastes and preferences of consumers, due to the availability of a wide range of food products, and rising health awareness among consumers have increased the demand for perishable food items.
In addition, onthego lifestyles, longer working hours, longer commuting times, and less inclination toward preparing food have increased the demand for readytoeat foods among the consumers. This has increased the demand for packaged food products globally, which, in turn, is boosting the demand for the market studied.
AsiaPacific to Dominate the Demand
China is the world’s largest market for barrier material. Rising demand for barrier materials from the cosmetic, food and beverage, and automotive industries is expected to drive the demand in the country.
In addition, change in lifestyle and increasing expenditure on health and nutritional foods have contributed to the growth of packaged food products. This, in turn, has increased the demand for barrier films in the food and beverage industry in China.
The Indian barrier material market is expected to grow at a healthy rate, due to the growing food and beverage, and automotive industries in the country.
Rising disposable income, growing urbanization, increase in population, and rising popularity and demand for convenient, readytoeat food have increased the demand for packaged food in the country.
The demand for barrier material is also driven by the growing automotive industry in the country. India’s automotive industry is one of the largest in the world. The sector is expected to grow at a moderate rate, which, in turn, is expected to drive the demand for barrier material in the automotive enduser industry in the country.
Furthermore, countries, such as Japan and South Korea, have also been contributing to the growth of the market studied. This is expected to further drive the demand for barrier material market, over the forecast period.
The barrier material market is partially consolidated in nature. Some of the major players of the market studied include Asahi Kasei Corporation, Kuraray Co. Ltd, 3M, Solvay, and DuPont, among others.
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