Global Barrier Material Market - Segmented by Type, End-User Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global barrier material market is expected to witness a CAGR of approximately 7.26% during the forecast period (2018-2023), majorly driven by rising demand to increase shelf-life of packaging from the food industry, as they have high durability and strong resistance to atmospheric gases and water vapors.
Demand to Increase Shelf-life of Packaged Foods is Driving the Market
Barrier materials have recently gained attention across food industry as they help in increasing shelf-life and thermal stability of the food packaging. They provide protection against atmospherics gases, water vapor, and aroma. They are used in the form of thin films and sheets for food packaging. Consumers, across the globe, are increasing being health conscious and avoiding food with artificial flavors and preservatives. This is likely to drive the barrier materials market in food industry.
Packaging Application Making Food & Beverage the Dominating End-User Industry
The global barrier material market, based on the end-user industry, can be broadly segmented into pharmaceutical, agriculture, cosmetics, food & beverage, and others. The food & beverage industry is expected to dominate the barrier material market, accounting for almost half of the total market share. These materials are widely used for the packaging of food & beverage products, such as, canned milk, beer, wine, and canned fruits and vegetables. The rising demand of convenience food products is likely to drive the barrier material market during the forecast period.
Demand from Pharmaceutical Packaging Industry is driving the Asia-Pacific Market
Asia-Pacific is expected to be high revenue-generating region, and is likely to account approximately to 50% of the total market share. There has been an increase in demand for packaging from the pharmaceutical industry. Improved health care services, coupled with rapid adoption of contract packaging in the pharmaceutical industry, and the stringent regulations against the counterfeit medicines is likely to drive the pharmaceutical packaging industry. In 2016, around 113 million counterfeit tablets were seized by the World Customs Organization (WCO), out of which 97% were manufactured in India and China. To protect the shelf-life of drug products, the demand for barrier material is likely to grow at a fast rate in Asia-Pacific.
In Dec 2017, Toppan Printing developed a paper-based barrier material for food and toiletries industries.
Major Players: Solvay SA, DowDuPont, 3M , Kuraray Co. Ltd, Asahi Kasei Corporation, amongst others.
Reason to Purchase the Report
To understand the impact of various material type on the market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
To understand the dominating end-user industry in the market.
Countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in Excel).
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