Food & Beverage Boom Drives Packaging Barrier Films Market to US$24.5 Billion by 2034 | Future Market Insights, Inc. - Seite 2

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The Packaging Barrier Films Industry: Examining Growth and Restraints

Food & Beverage: Driving Force behind Market Growth: The food and beverage sector's continued use of packaging barrier films is propelling the market. The preference of packaged food suppliers for convenient and flexible packaging solutions is boosting the use of the product in the food and beverage sector. Consumer inclination towards ready-to-eat food and online food delivery is also benefitting the market.

Aside from the food and beverage industry, packaging barrier films are also finding application in other sectors like electronics and pharmaceuticals. The safe nature of packaging barrier films is being utilized to safeguard medicines and chemicals, thereby inflating the market demand. Blister packaging is also being used in increasing measure by the pharmaceutical sector.

Challenges to Market Expansion: Environmental and Regulatory Concerns: However, the market faces significant obstacles to growth. The use of plastic in packaging barrier films is detested by a prominent number of end-users, thus placing a limit on the consumer base for the market. Regulatory pressure regarding plastic also makes procurement of raw materials tricky, limiting production and demand.

"To overcome the problems associated with plastic, manufacturers of packaging barrier films are taking the help of renewable materials. Manufacturers' resolve in favor of sustainable materials is aided by government initiatives. Thus, the use of eco-friendly material is seen as the way forward for packaging barrier film market players," says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights).

Key Takeaways from the Packaging Barrier Film Market

• The packaging barrier films market is anticipated to be US$ 18.8 billion in value in 2024.
• High barrier films are the predominant barrier type in the market. For 2024, high barrier films are expected to account for 50.2% of the market share.
• Packaging barrier films are used in the food and beverage sector. For 2024, food and beverage use is anticipated to account for 42.1% of the market share.
• India is a promising country for the market. The CAGR for India over the forecast period is forecasted to be 6.5%.
• China is another Asian country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for China is pegged at 5.1%.
• The market is expected to register a CAGR of 2.1% in Spain over the forecast period.

Competition Analysis of the Packaging Barrier Film Market