Barrier foil is a type of packaging, which offers a resistant barrier to prevent food, pharmaceutical, beverage, and cosmetics and helps in reducing waste. Barrier foil is extremely erosion-resistant and for most fillings, chemically neutral. Moreover, barrier foil is non-tainting, hygienic, and non-toxic in nature. Further, the raw material for barrier foil packaging is a kind of flexible packaging material and is primarily produced using aluminum sheets. The primary end-users of barrier foil market are pharmaceuticals food, and beverages industries. Barrier foil wrap is manufactured through the continuous cold rolling and casting and henceforth it is appropriate to be used to enclose around any product for packaging purposes.
Barrier Foil Market: Drivers & Restraints
The major factors which are boosting the growth of barrier foil market are increasing use of rapid growth and technology advancement in the packaging industry, growing consumer emphasis on sustainable and convenience lifestyles turn to barrier foil packaging one of the rapidly growing packaging areas in forecast years. Moreover, with improving living standards and increasing consumption of packaged products driving demand there is continuous growth in barrier foil market. Transparent barrier foil is replacing traditional materials, such as flexible barrier foil, for numerous end-user applications due to increasing consumer demand for packaging feasibility, transparency, and the use of microwave ovens and metal detectors. In terms of industry verticals, the demand of barrier foil in packaging in food industry continues to be the major end-use segment for barrier foil market in coming years.
The rapidly growing end-user applications for pouch barrier foil packaging include beverages, snack foods, meat, pet food, produce, pharmaceuticals pet supplies, and medical devices. The growth of barrier foil in food packaging usage is being driven by the demand and growth from families with all working adults, empty-nest households, and the subsequent consumer demand for shorter preparation times, convenience, and smaller package sizes. The growth of barrier foil packaging is partially due to the growing demand for pharmaceutical packaging, and convenience foods but the majority of barrier foil packaging’s growth is due to the expansion of the market in emerging economies. Also, price variability has also had an adverse effect, as aluminum foil is used for a varied range of barrier packaging products, including foil lidding, blister packaging, foil laminates, and foil sachets, bags, and pouches.
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Barrier Foil Market: Market Segmentation
In terms of end-use types, Pouches accounts for significant share in overall Barrier Foil market due to its high demand in food and beverage, cosmetics, and pharmaceutical industry. Further due to price variability has also had an adverse effect, as aluminum foil is used for a varied range of end-user products. The Barrier Foil market is segmented into four parts based on the packaging type, application type, end-user type, and geography.
Barrier Foil Market: Regional Outlook
Regarding geography, barrier foil market has been fragmented into seven key regions including North America, Eastern Europe, APEJ, Western Europe, Japan, Latin America, and the Middle East & Africa. Barrier foil market is expected to register significant CAGR during the forecast period due to its advanced properties such as it offers significant reductions in packaging costs, materials use and transport costs. The future growth rates of the barrier foil market are similar to the projected GDP growth rates. Economies with improving living standards will continue to grow steadily.
High demand of barrier foil in FMCG products and technological advancement in packaging across the globe is increasing the demand and growth of barrier foil market in coming years. In terms of developing economies of APAC, the growth of the barrier foil is significantly high and with significant CAGR in projected years attributed to factors such as globalization, rapid economic development, and increasing demand of the flow pack in food & beverages industry and pharmaceutical as well as personal care products.
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Rising growth and demand for barrier foil and the high rate of corrosion resistance characteristics of aluminum is the major factor for the barrier foil market continuous growth in the coming years. Further, increasing demand for packed beverages and food upshots in an increase in consumer barrier foil packaging. Barrier foil used in pharmaceutical packaging is expected to witness the strongest growth in the forecast period.
In addition, over the estimate period, APEJ barrier foil market for is expected to grow significantly due to the growth of packaging industry in the region. Overall, the global market for barrier foil is expected to grow significantly by the end of forecast period. Barrier foil market for APEJ is also expected to accounts for rapid growth during the projected period primarily attributed to the growth of smart packaging market and increasing usage of flow pack packaging in different industry verticals, especially in China and India. The barrier foil market is growing at rapid rate and is likely to grow at significant CAGR in forecast years.
Barrier Foil Market: Few Players
The leading manufacturer of barrier foil market is expanding their presence in developing economies with technological advancement and a wide range of product offering in different industry verticals. Moreover, Greiner Packaging GmbH together with the IPEC Institute for Polymer Extrusion and Compounding (IPEC) University exploring realistic production technologies for the manufacture of packaging barrier foil with a unique coextrusion facility.