Industrial application segment will exceed USD 150 million by 2024. Rising product application for packaging fluids, paint & coatings and lubricants will drive high barrier pouches market growth in this segment. Increasing construction spending coupled with infrastructure development mainly in developing countries will boost the product demand.
Polyethylene will observe gains over 5.5% up to 2024. Excellent resistance and tensile strength as compared to other materials will drive industry growth. Increasing demand from household and industrial chemical segments owing to superior chemical resistance property is expected to propel product demand.
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Potential outlook in food & beverage applications is expected to drive high barrier pouches market. Longer shelf life, superior preservation, lightness, extended durability and recyclable properties will support product penetration. As per analysis, the global packaged food industry was estimated over USD 1.5 trillion in 2016 and is projected to surpass over USD 2.6 trillion by 2019.
Companies are considering packaging as a branding tool rather than a protective package. Especially in FMCG environment where consumers are less concerned abound brand loyalty. Thus, manufactures are expected to invest in packaging design to gain competitive advantage and boost their product sales.
Liberalization of trade policies is likely to propel the international trade, which will positively influence the high barrier pouches market growth. Changing demographic and income trends led to an increase in consumer spending on disposable products. Increased adoption of new packaging technology, mainly by pharmaceutical and dairy sectors, are the key driving factors for the industry growth.
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Five-layer accounted for 50% of the total industry share in 2016. Superior gas & moisture barrier, resistance to solvents & UV rays and excellent printability properties will drive this segment’s growth.
Europe high barrier pouches market will witness gains over 5% up to 2024. Fast paced lifestyle along with rise in demand from consumers for small & convenient packages will support product penetration. Increasing product application in pharmaceutical sector is projected to boost regional market. Heat & acid resistance and superior shelf life are key properties propelling product demand.
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Global high barrier pouches market share is highly fragmented owing to presence of many industry players both at regional & international level. Some of the major players are Essentra, Elliot Packaging, Amcor, Hood Packaging, Sonoco, Bemis, American Pouch and Vacuum Pouch Company.