Asia Pacific oxygen barrier films & coatings market for dry foods to expand at over 6% CAGR during 2019 to 2025 with China, India and Japan are among the key contributing countries in the region owing to their high proportion spending on food.
Selbyville, Delaware, Feb. 12, 2019 (GLOBE NEWSWIRE) —
Oxygen barrier films & coatings for dry food market revenue will surpass US$1.4 billion by 2025, according to a growth forecast statistic by Global Market Insights, Inc. Shifting customer preference towards packaged food owing to its benefits regarding the preservation of taste, texture, and aroma will drive the oxygen barrier films & coating for dry food market. High disposable income and consumer preference for indulgence snacks has positively influenced the oxygen barrier films & coatings for dry food market demand. Global snacking business registered USD 3.4 billion sales in 2017, where Europe accounted for over 26% revenue share.
Changing customer consciousness with respect to product wrapping to ensure safe consumption has resulted in the frequent innovations & development across the packaging industry. Ease in carrying, stacking, transporting, and shelf appearance are among the major factors influencing the packaging type demand from a retailer’s perspective.
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High-performance packaging requirement such as protection from vapor, moisture, air, and gases have positively influenced the oxygen barrier films & coating for dry market growth. Food industry expansion and increased logistic facility have made it easier for manufacturers to transport goods from one place to another, which in turns creating demand for lightweight packaging materials.
The absence of regulations regarding the packaging raw material along with the high cost associated with rigid packaging has made oxygen barrier films & coating more popular among the industry players. The light weightiness of the material makes the overall product less heavy and create scope for large quantity transportation at the minimal logistic cost.
Metallized films accounted for more than 35% of the overall material demand in 2018. Attractive packaging appearance due to its similarity with the aluminum foil makes the packaging highly preferable for decorative purpose. High oxygen and moisture resistance capacity along with aid in elevating shelf life are among the key factors driving demand in this segment.
Browse key industry insights spread across 350 pages with 454 market data tables & 11 figures & charts from the report, “Oxygen Barrier Films & Coatings For Dry Food Market Size By Material (Metallized, Transparent, PVDC, EVOH), By Packaging Type (Pouches & Bags, Lid Stock & Wraps), By Application (Baked Goods, Confectionary, Savory Snacks, Rice, Pasta, Noodles, Breakfast Cereals) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Spain, China, India, Japan, South Korea, Thailand, Australia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Transparent films will witness the fastest growth during the forecast period. This type of packaging material is highly in demand by customers due to its see-through benefits. Transparent films help customers in picking the exact required product and also provides the ease to compare the product.
Baked goods will witness the highest gains during the forecast period. Bakery industry expansion owing to the increasing consumer spending on impulsive buying foods will encourage the product penetration in this segment. The necessity to prevent bakery ingredients from exterior oxygen and gases in order to maintain freshness has stimulated the oxygen barrier films & coating for dry food demand.
Asia Pacific oxygen barrier films & coating for dry food market will witness over 6% CAGR up to 2025. China, India, and Japan are among the key contributing countries in the region owing to their high proportion spending on food. Large population size, high GDP growth, and presence of various manufacturers will open large scale opportunities in this region.
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The global oxygen barrier films & coating for dry food market share is highly competitive due to the presence of a large number of companies in the industry. Bemis, Amcor, American Pouch, Honeywell, and Dupont Teijin Films are among the key industry players. Raw material advancement to achieve better functionality and implementation of blended materials are considered to be breakthrough strategies to be implemented in the coming years.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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