According to a new research report by Global Market Insights Inc., the Oxygen Barrier Films & Coatings for Dry Food Market size is estimated to exceed USD 1.4 billion by 2025 owing to shifting customer preference towards packaged food due to its benefits regarding the preservation of taste, texture, and aroma.
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.
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.
Browse key industry insights spread across 350 pages with 444 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), Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
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.
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.
Pouches & bags dominated the packaging type segment and captured over 60% of the overall oxygen barrier films & coatings for dry food market demand in 2018. Baked goods, savory snacks, rice, noodles, dehaydrated soups, and breakfast cereals are key identified products largely uses pouches & bags as the packaging medium. Lid stock and wraps are mainly used in the packaging of ready to eat products. As lid stock is applied on the packaging tray or box to prevent the item from moisture. On contrary wrap is applied and sealed to the overall product at once.
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 market share.
Asia Pacific 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.
The global oxygen barrier films & coating for dry food industry 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 breakthrough strategies to be implemented in the coming years.