Oxygen Barrier Films & Coatings For Dry Food Market Size

Oxygen Barrier Films & Coatings For Dry Food Market Size

Oxygen barrier films & coatings for dry food market size was worth USD 950 million in 2018 and will witness over 5% CAGR up to 2025. Shifting consumer preference for packaged food due to changing eating habits has promulgated the requirement for advanced material packaging.

The necessity to maintain product sustainability and safety along with consistent attempts to improve packaging functionality are among the major factors fueling the oxygen barrier films & coatings for dry food market share. The overall packaged food industry registered over USD 2.6 trillion in spending in 2016. Resistance against moisture, air, and gases not only improves the product's shelf life but also helps in maintaining the taste and texture.

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Less wastage and spoilage along with economic costing for lightweights are key factors influencing demand in this segment. As per FAO, global food losses and wastage amount to USD 650 billion in developed countries and over USD 300 billion in developing countries annually. Food companies are expected to adopt new packaging materials to reduce food losses during transportation & reduce the overall environmental impact.

Factors such as technological development, regulations, and changeable consumer buying behavior is expected to drive the advanced packaging materials demand. The barrier performance of any packaging material is measured by its water vapor transmission rate and oxygen transmission rate. Food industry globalization in terms of exportation and importation has positively induced the oxygen barrier films & coatings for the dry food market to meet certain requirements while getting transported within or outside the country boundaries.
 

Enhanced packaging solutions to provide convenience to the consumers have resulted in innovative product development. The increasing popularity of moisture-resistant pouches, bags, lid stock, and wraps is likely to support the oxygen barrier films & coatings for dry food market share. Food companies are more focused on achieving the point of difference by providing more convenient and attractive packaging to the customers.

Government acceptance towards the inclusion of different films & coatings materials such as PET, PA, and EVOH in packaging has positively stimulated the oxygen barrier films & coatings for dry food market growth. Convenience in carrying and stocking, ease in disposability, cost advantage in comparison to rigid packaging solutions are key identified benefits to drive industry growth. However, regulatory compliances regarding material recyclability may limit the business growth.