Global Barrier Films Market: Overview
Barrier films refer to those multilayer films that made impassable to gas migration to secure the quality and integrity of products packed inside it. These films protect products ranging from pharmaceuticals to electronics to food products. Barrier films are an inseparable element of food packaging solutions; particularly used in products that are thin plastic-based. It is vital to opt for the right type of film for the specific application that one might have.
Before selecting a barrier film, it is necessary to examine the oxygen transfer rate (OTR). It is a measurement of the amount of oxygen that a barrier film allows to pass through. In food packaging applications, generally lesser the oxygen the better it is. As such high barrier films are quite popular as they come with oxygen permeability of less than 10cc.
Transparency Market Research offers a comprehensive understanding of the global barrier films market through this report. It offers well-researched data on various facets of the market to offer valuable business input for profit generation.
Global Barrier Films Market: Notable Developments
In June 2019, Melbourne-based Amcor Ltd. completed its acquisition of Bemis Company, Inc., Wisconsin-based manufacturer of flexible packaging. This completed deal creates a global consumer packaging giant with combined revenues of $13.4 bn in 2018. Bemis Company, Inc is now a wholly owned subsidiary of Amcor and the combined entity will now operate as Amcor Plc.
The noted players that are operational in the global barrier films market are ProAmpac LLC, Berry Global, Amcor Limited, and Sealed Air Corporation.
Global Barrier Films Market: Key Trends
Below-mentioned market trends and opportunities mark the global Barrier Films Market:
Hectic Lifestyle of People to Stimulate Growth of Global Barrier Films Market
Hectic lifestyle of people has led to ever-changing food habits and such a lifestyle generates the need for packaged food, which can be eaten on the go or at home, but without the hassle of cooking. Besides, Improvement in the lifestyle and increase in disposable income has also led to the growing consumption of packaged food. Such factors are driving the global barrier film market.
Grab-and-go food (GNG) refers to ready-to-eat, pre-packaged food products that are often sold at a self-service refrigerator or somewhat similar outlets. Such products require longer shelf life with quality being intact and thus it acts as an important driver for global barrier film market.
With the increasing sales of the food packaging market, it is expected that global barrier films market will experience growth too as they are increasingly used in the food packaging industry for packing different types of food products.
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Global Barrier Films Market: Geographical Analysis
The North American region is experiencing a major change in the trends of consumer lifestyle, who are demanding portability and convenience of products, particularly in the food industry, which directly steers the barriers films market towards growth.
In the US, the food industry is responsible for more than 5% of the GDP. The segment is still growing, thanks to the rising demand for packaged foods. Packaged food products come with the benefits like on-the-go flexibility, ease of use and as such have become an essential component driving the procurement of packaged foods.
In the U.S, flexible packaging industry is experiencing a much better growth when compared with the rigid packaging market. This is due to the outstanding solutions offered for several packaging challenges. Whilst taking the full life cycle of flexible packaging into consideration, it comes with better sustainability attributes such as using less energy and material, and emitting less greenhouse gas and waste. Therefore, it is a better option of packaging. All these elements have substantially contributed towards the growth of barrier films market in the US.