According to the research report titled ‘Global Packaging Barrier Films Market Size study, by Type (Polyethylene (PE), Oxygen/Water Vapour Barriers, Structural or Protective layers and Others), Application (Food and Beverage, Pharmaceutical, Agriculture and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global packaging barrier films market size to expand at 4.5% CAGR during 2020-2027.
 

Surging demand from packaging and food & beverage verticals is primarily driving global packaging barrier films market growth.
 

According to the Canadian Food Industry Report, food manufacturing shipments totaled USD 87 billion in 2018, with export shipments accounting for one-third of total shipments, making Canada the world's fifth largest exporter of processed food & beverage products. With 6500 food & beverage processing establishments in Canada, these shipments accounted for 6.7% of the country's GDP.
 

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Furthermore, as per the National Institute of Statistics and Geography (INEGI), Mexico had over 187,347 economic units classified as Food & Beverage Manufacturing & Processing as of 2017, which includes manufacturing plants and distribution centers.
 

For those unfamiliar, packaging barrier films are versatile films that are often used as food packaging substitutes. These films eliminate the need for preservatives, act as a printing substrate, and extend the product's shelf life.
 

Fresh food, personal care & cosmetics, snacks & confectionaries, dried food, baked goods, convenience foods, medicines & pharmaceuticals are among the most popular applications of packaging barrier films.
 

Concerns about plastics' potential to enable the exchange of vapors and gases, which could jeopardize the safety and quality of packaged goods, have had a significant effect on worldwide packaging barrier film industry.
 

On the downside, hefty costs, susceptibility to degradation, and recycling issues are likely to hamper worldwide packaging barrier films industry remuneration over the forecast period.
 

Elaborating on the regional terrain, Asia Pacific holds significant portion of global packaging barrier films market share currently, attributable to presence of considerable number of industry contenders and large manufacturing facilities in the region. Moreover, growing packaging sector is anticipated to create lucrative prospects for the regional market expansion. 
 

Major players in global packaging barrier films market sphere are HPM Global Inc., Bemis Company Inc., BERNHARDT Packaging & Process, Oliver-Tolas Healthcare Packaging LLC, American Pouch Converters, Prairie State Group (PSG), Amcor plc, Krehalon UK Ltd., Sealed Air Corporation, and Shako Flexipack Pvt. Ltd.