The global sales of microwavable barrier films are estimated to be worth USD 2.3 billion in 2021 and are anticipated to reach a value of USD 3.5 billion by 2031. Sales are projected to rise at a CAGR of 4.2% over the forecast period between 2021 and 2031. The revenue generated by microwavable barrier films in 2020 was USD 2.2 billion.
The driving factors in the microwavable barrier films market include increasing consumer demand for convenient, ready-to-heat meal solutions that require films to withstand microwave conditions with no compromise on food quality.
Additionally, the greater growth in consumer trends for on-the-go lifestyles and increased single-serve and portion-controlled packaging boost the demand for effective barrier films. Innovation in film materials includes increasing heat resistance and improved barrier properties; it is designed to respond to evolving food safety and quality standards.
The increasing pressure toward sustainable and green packaging solutions is also driving the market, pushing toward the development of recyclable and biodegradable films. Developments in packaging technologies and increased usage in the foodservice and retail sectors also add to the lift of market growth. Growth in the global distribution systems for foods and increasing consumer awareness towards food safety demands more usage of high-performance microwavable barrier films.
Global Microwavable Barrier Films Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 2.2 billion |
| Estimated Size, 2021 | USD 2.3 billion |
| Projected Size, 2031 | USD 3.5 billion |
| Value-based CAGR (2021 to 2031) | 4.2% |
Microwavable barrier films are films that can be used as top seals or bagging for food products.
These materials can be placed directly into an oven. The entire package can be cooked to heat the food without removing the food products from the packaging. The microwave barrier film is designed to create a shelf-stable packaging material for food, which film is substantially impermeable to certain radiation and chemicals.
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Excellent peel ability, high barrier features, and high transparency of microwavable barrier films make them popular for use in everyday life. The food industry across the globe, is expected to witness more than 10% annual growth in over the coming years.
This has reflected positive growth sentiment especially in the emerging economies. Various allied industries such as retail sector, demand customized offerings of food products, which is expected to positively impact sales of microwavable barrier films in the foreseeable future.
Moreover, adoption of microwavable barrier films for packaging of snacks such as burgers & sandwiches, and bakery & confectionery products is rising significantly. In addition, rising demand for convenient and hygienic methods of cooking food that allow processed food to be moved directly from retail shelves to homes, is estimated to augment the demand for microwavable barrier films during the period under review.
Variation in food consumption habits owing to an increase in per capita disposable income has also encouraged packaging companies to develop new product lines with respect to microwavable barrier films. As nearly 60% - 70% of the demand comes from urban areas, there is a lot of growth opportunities in rural and semi-urban regions. Manufacturers and distributors must work on their product segments to come up with economically-viable microwavable barrier films.
Additionally, multinational corporations are collaborating with local players to establish a strong presence in emerging economies, which is also projected to further drive growth of microwavable barrier films in these regions. Rapid growth in the consumption of processed food in emerging economies is creating new opportunities for microwavable barrier film manufacturers to penetrate in these potentially remunerative industries.
Principal Consultant
The USA is expected to dominate and lead the growth of the North American market, which is expected to increase due to rising usages of microwavable barrier films in wide range of applications. Consumers in developed nations such as USA, are choosing ready-to-eat meals and frozen food products, despite the growing consciousness about health quotient of foods.
Furthermore, convenience in cooking remains a key factor to shape consumers’ purchasing decisions in USA, which is further projected to transform into lucrative growth avenues for stakeholders in the microwavable barrier films industry.
Europe is set to witness a considerable growth in the microwavable barrier films demand owing to rising demand for prepared meals backed by its high quality perception and convenience as compared to canned and frozen foods.
However, nowadays restaurants and other food chains are also more inclined towards frozen food due to rising interest of people in steam-cooked vegetables and various ethnic cuisines which in turn is likely to propel the demand for microwavable barrier films.
Thus, surging demand for convenient and time saving packaging methods and increasing consumption of frozen foods is estimated to flourish the sales for microwavable barrier films at an exponential rate in the European regions.
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Some of the leading providers of microwavable barrier films include
The above mentioned players are investing heavily in R&D to bolster innovation in terms of size, shape, technology, and material for microwavable barrier films. Companies are also aiming to gain a competitive edge by employing more sustainable materials and adopting environment-driven business strategies in the production of microwavable barrier films.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material 6.2. Seal Type 6.3. Application 7. Global Market Analysis and Forecast, By Material 7.1. PE (Polyethylene) 7.2. PET (Polyethylene Terephthalate) 7.1.1. Amorphous PET 7.1.2. Crystalline PET 7.1.3. Recycled PET 7.3. PP (Polypropylene) 7.4. Others 8. Global Market Analysis and Forecast, By Seal Type 8.1. Peelable Seal 8.2. Permanent Seal 9. Global Market Analysis and Forecast, By Application 9.1. Prepared Meals 9.2. Frozen Foods 9.3. Meat Products 9.4. Dairy Products 9.5. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia & Pacific 10.6. Middle East & Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Material, Seal Type, and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Berry Global Inc 19.2. Elite Packaging 19.3. FlexFilms 19.4. Coveris 19.5. Toppan Printing Co., Ltd 19.6. Der Yiing Plastic Co. Ltd 19.7. KM Packaging Services Ltd. 19.8. TCL Packaging, among others.
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Microwavable Barrier Films Market
