The size of the global High Barrier Packaging Films market was USD 17.71 Billion in 2022. It is projected to exhibit a revenue compound annual growth rate (CAGR) of 5.5% during the forecast period. The growth in market revenue can be attributed to various factors, including the increasing demand for sustainable barrier film solutions, government initiatives aimed at controlling plastic pollution and environmental degradation, technological advancements, and the rising demand from end-use sectors such as food beverage, pharmaceuticals, and agriculture.
In the pharmaceutical sector, there is a growing demand for High Barrier Packaging Films, particularly moisture High Barrier Packaging Films. As an example, Honeywell introduced Aclar Accel on 2nd February 2022, expanding its range of Aclar films. Aclar Accel is a thermoformable barrier film designed for medical packaging. Honeywell claims that Aclar Accel offers businesses a more cost-effective solution while extending the shelf life of products. Compared to aluminum blister packaging with cold form foil, Aclar Accel provides a tightly packed, high-moisture resistant packaging solution.
Overall, the increasing adoption of High Barrier Packaging Films, driven by their benefits and advancements in the industry, is contributing to the growth of the global High Barrier Packaging Films market.
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High Barrier Packaging Films Market Competitive landscape:
The competitive landscape of the global High Barrier Packaging Films market is characterized by fragmentation and intense competition, with numerous players operating at both global and regional levels. Key market players are actively involved in portfolio expansion, research and development, and strategic alliances to enhance their market presence. This includes partnerships, collaborations, agreements, regional expansions, mergers, acquisitions, and new product launches. These growth strategies are aimed at expanding their market reach and gaining a competitive edge.
Smaller businesses differentiate themselves by developing unique products that offer distinct value propositions. Competitors are focused on differentiating their offerings to stand out in the market. Market suppliers are capitalizing on growth opportunities in fast-growing categories while safeguarding their positions in slower-growing segments. Additionally, start-ups are playing a significant role in the market, introducing innovative initiatives and gradually establishing their market presence.
Among the major companies operating in the global High Barrier Packaging Films market are AgJunction, Raven Industries, Trimble Inc., Deere Company, AGCO Corporation, DICKEY-john, Topcon, Valmont Industries, Inc., Visartech Inc., and Taranis. These companies contribute significantly to the market and drive its growth through technological advancements, strategic partnerships, and continuous innovation.
A noteworthy development in the market is the strategic partnership announced on 22nd August 2022 between Sway AI, a developer of cutting-edge no-code AI technologies and services, and Trilogy Networks. The partnership aims to join the Rural Cloud Initiative (RCI) and deliver a comprehensive AI-enabled precision agriculture solution for farmers. The RCI is a unique coalition of network and edge innovation partners dedicated to accelerating the digital transformation of rural America. This collaboration highlights the industry's commitment to advancing agricultural technologies and addressing the specific needs of rural farming communities.
Overall, the global High Barrier Packaging Films market presents a dynamic and competitive landscape, with companies leveraging various strategies to strengthen their market presence and drive innovation in the industry.
Some Key Highlights from the Report
- The metalized High Barrier Packaging Films segment is projected to dominate in terms of revenue share during the forecast period. These films offer a robust moisture barrier, which significantly extends the shelf life of packaged food, ensuring it remains usable for an extended duration. Utilizing laminates efficiently addresses material usage concerns. The solvent-free coating property and the effectiveness of metalized High Barrier Packaging Films make them ideal for serving as the inner seal web in both duplex and triplex laminate constructions. Thanks to their excellent machinability, sandwich lamination techniques can deliver outstanding results.
- The food and beverage segment is expected to have the highest revenue share during the forecast period. Factors such as the growing popularity of prepackaged foods enable retailers to reduce labor costs associated with on-site packaging. Rising demand for ready-to-eat meals and instant food requires manufacturers to invest in advanced packaging technologies to ensure quality and prevent contamination, which is one of the major factors driving this segment's revenue growth.
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Segments covered in the report:
By Type Outlook:
- Metalized High Barrier Packaging Films
- White barrier film
- Transparent High Barrier Packaging Films
By End-use Outlook:
- Food Beverage
- Pharmaceutical
- Agriculture
- Electronics
- Aerospace
- Automotive
- Others
By Material Outlook:
- Polyethylene Terephthalate (PET)
- Polypropylene
- Polyamides (PA)
- Polyvinyl Chloride (PVC)
- Organic Coatings (PVOH, EVOH, PVDC)
- Inorganic Oxide Coatings (Silicon Oxide, Aluminum Oxide, and Silicon Nitride Coatings)
- Others
Regional scope:
North America; Europe; Asia Pacific; Latin America; Middle East Africa
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