April 23, 2020
As per the report titled ‘Oxygen Barrier Films & Coatings For Dry Food Market Size By Material, By Packaging Type, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global oxygen barrier films & coatings for dry food market is expected to see prominent gains during 2019-2025.
Growing need for improved storage and use of dry food has boosted the demand for convenient packaging solutions such as oxygen barrier films and coatings. Ease of handling and transportation along with spoilage prevention are favoring the incorporation of oxygen barrier films & coatings in the food industry.
Changing consumer dietary habits and shifting preference towards snacks and convenience foods will present lucrative opportunities during the forecast period. Increasing purchasing power of consumers is positively influencing the industry growth. Furthermore, growing focus among food manufacturers towards product differentiation through attractive packaging and improved shelf appearance is supplementing the market growth. Expansion of food industry has led to increased food transportation, demanding the use of highly protective packaging, hence boosting the market growth.
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Lack of regulations and restrictions regarding the use of raw materials for packaging coupled with lower cost as compared to rigid packaging has enhanced the demand for oxygen barrier films and coatings in the industry.
Based on the material, metallized segment held approximately 35% market share in 2018 and is expected to display strong growth trends over the forecast timeline. High permeability with respect to oxygen & gas along with its aesthetic appeal are driving the product demand.
Elaborating on the packaging type, pouches & bags segment accounted for 60% demand share in 2018 and is expected grow considerably in the forthcoming years. Preference for high-performance packaging for savory snacks, noodles, bakery ingredients, rice, dried soups, and breakfast cereals is contributing to the segment growth.
Speaking of the application spectrum, baked goods segment is anticipated to witness an accelerated growth during the analysis period. Rising consumer expenses on bakery items due to changing dietary habits is facilitating the market share.
Considering the geographical landscape, oxygen barrier films & coatings for dry food market in Asia pacific is projected to cross USD 350 million by 2025. High consumer spending on food products in tandem with large urban population are contributing to the regional market expansion.
Key players operating in global oxygen barrier films & coatings for dry food industry are Amcor, Bemis, American Pouch, BERNHARDT Packaging and Process, Flair Flexible Packaging, ClearBags, Krehalon, HPM Global, Prairie State Group, Shako Flexipack, Sealed Air, Jindal Ploy Films, Raven Industries, Inc., Berry Global, Inc., Toppan Printing Co., Ltd., Sumitomo Chemical Co., Ltd., and DuPont Teijin Films.
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