High Barrier Packaging Films for Pharmaceuticals Market will Register a CAGR of 6.2% through 2027
Posted: May 30, 2018
High Barrier Packaging Films for Pharmaceuticals Market: Overview
The demand for flexible packaging especially that made of biodegradable material is highly in demand today. People are preferring the use of sustainable products for packaging. The packaging industry is also witnessing the introduction of new and innovative packaging types for various applications in the food and pharmaceuticals industries. The packaging market consists of high barrier packaging that is used for pharmaceutical applications. High barrier films are flexible films that have certain properties that protect the primary product from deterioration and ultimately increase the shelf life of the product.
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A new research report by Future Market Insights titled ‘High Barrier Packaging Films for Pharmaceuticals Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’ depicts the current and upcoming scenario of high barrier packaging films for pharmaceuticals. The report indicates latest trends that are prevailing in the industry and are helping the global high barrier packaging films for pharmaceuticals market to grow exceptionally. Looking at the current demand for high barrier packaging films, manufacturers are coming up with new and advanced products. Modified Atmosphere Packaging (MAP) or Controlled Atmosphere Packaging (CAP) is the emerging advancement in the packaging industry, which helps maintain the environment within the packaging as required by the product. High barrier packaging films are incorporated to manufacture such packaging; these films do not allow the exchange of gases across the packaging and control the temperature within the package.
Global Packaging Industry to Witness Increased Demand for Biodegradable High Barrier Packaging
The packaging industry largely accounts for plastic packaging that is non-biodegradable. People in developed countries are very concerned about the adverse effects of plastic use, which is fuelling the market for biodegradable products. Manufacturers are focussing on producing biodegradable high barrier packaging films that can help them stay stronger than other packaging manufacturers in the business. Manufacturers have also come up with techniques like recycling high barrier packaging films. A new technology being launched is Recycle Ready Technology. This technology renders the recycling of polyethylene barrier films with the objective to increase the post-consumer recycling process and reduce packaging waste incineration. The process is an evolution in the recycling process of flexible films that has saved immense cost of manufacturers in the recycling process of flexible films.
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APEJ to Become the Fastest Growing Region in the Global High Barrier Packaging Films for Pharmaceuticals Market
According to the research report, the North America regional market is expected to hold the highest market size of over US$ 200 Mn by the end of 2027. However, in terms of growth rate, APEJ is expected to dominate the global market with a projected CAGR of 7.2% during the forecast period. Latin America is in close competition with APEJ in terms of growth and is expected to grow at the rate of 7.0% during the forecast period.
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High Barrier Packaging Films for Pharmaceuticals Market: Competitive Landscape
The report lists all the key players leading in the global high barrier packaging films for pharmaceuticals market. It also presents a brief profile of all these major players. Some of the key players mentioned in report are Amcor Limited, Uflex Ltd., Bemis Company, Inc., Winpak Ltd., The Mondi Group plc, Berry Global Group Plc, Constantia Flexibles, Glenroy, Inc, Toray Plastics (America), Inc., Cleplast Metallized Products Ltd. etc.
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