The report forecasts the global high barrier packaging film market to grow at a CAGR of 5.35% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend contributing to market growth is the growing use of bio-based polymer films. Biodegradable and soluble films are expected to experience a rapid rise in the demand during the forecast period. As a result of an improvement in technologies, new applications are developed to fulfill the end-user demand for sustainable specialty and high-performance films. A rise in the demand for compostable packaging and bags for organic waste is driving the demand for biodegradable films. This trend will also benefit from environmental concerns and the increased marketability of bio-based polymers.
According to the report, a key growth driver is the need for extended shelf life of many products. Packaging is crucial in the food industry to safeguard the food products and maintain the quality. The high barrier packaging films help in extending shelf life and preserving the high quality of food stored in them. An increase in the demand for fresh and prepared food products will propel the need for high barrier packaging films, globally. Consumers are demanding those food products that are processed as little as possible and artificial additives and preservatives are not used for preserving the food quality. This has led to food manufacturers demanding new shelf life-enhancing methods and packaging. High barrier packaging films have unique properties like chemical properties, heat resistance, gas and aroma barrier, high tensile strength, puncture resistance, durability, special surface properties, and lighter packaging.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?