Global Barrier Resins Market 2017-2021: Top Drivers and Forecasts by Technavio

June 14, 2017

LONDON–(BUSINESS WIRE)–#PolymersandElastomers—Technavio
market research analysts forecast the global
barrier resins market to grow at a CAGR of close to 6%
during the forecast period, according to their latest report.


The market study covers the present scenario and growth prospects of the
global barrier
resins market for 2017-2021. Barrier resins are a
class of polymers that maintain the quality, and flavor of food, enhance
the shelf life to food products, and restrict entry of gases such as
carbon dioxide, oxygen, volatile flavor nitrogen compounds, water vapor,
and aromatic compounds. The food and beverage and pharmaceuticals
industries currently dominate the global barrier resins market in terms
of consumption.

According to Hitesh Bhatia, a lead analyst at Technavio for chemicals
and materials research, “Growing consumer use of ready-to-eat
packages, boil-in-the-bag, and stand-up-pouches is expected to aid the
rise in demand for barrier resins in the food and beverage sector. This
trend is particularly evident in APAC, which is projected to be the
largest market for barrier resins during the forecast period.

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global barrier resins market:

  • Need for extended shelf life in packaging sector
  • Growing economies: A boon for barrier resins
  • Growing demand for barrier resins in pharmaceutical packaging

Need for extended shelf life in packaging sector

The packaging industry has grown at a rapid pace with the growing
innovations in the food processing industry. Packaging has become an
indispensable part of food processing over the last four decades. The
main objective of any packing material is to contain the product,
preserve it, increase its shelf life without compromising on the quality
of the product, and provide ample sturdiness for hassle-free
transportation and distribution.

Barrier resins increase the shelf life of packaged foods by preventing
the passage of atmospheric air. The airtight seals provided by these
materials prevent dry foods from absorbing moisture and wet foods from
losing moisture. This prevents oxidative spoilage of foods and
eliminates the use of additives that prevent oxidation. They also
maintain the flavor and quality of the packaged content.

Growing economies: A boon for barrier resins

The demand for packaged food products in the developing countries is
strong, making these growing economies the chief contributors to the
global barrier resins market. Consumers are increasingly moving toward
packed, ready-to-eat, and microwaveable products that help to conserve
time. An increase in the demand for packaged food will lead to the
growth of the global barrier resins market.

Key vendors of barrier resins are establishing production facilities in
the emerging markets due to low costs and availability of skilled labor
which is also anticipated to help the growth of global barrier resins
market.

Growing demand for barrier resins in pharmaceutical packaging

Advanced manufacturing processes, technological innovations, and
strategic alliances of companies have resulted in the rapid growth of
the pharmaceutical packaging industry. Barrier materials, particularly
PVDC and EVOH are primarily used for protecting pharmaceutical products
against light, moisture, oxygen, biological contamination, mechanical
damage, and counterfeiting.

“The pharmaceutical packaging industry is expected to post the
highest growth in the emerging economies, such as the BRICS nations
during the forecast period. The growth in these countries is fostered by
the increased disposable incomes and growth in healthcare facilities,” says
Hitesh.

Large population base, favorable demographics, growing population, and
high life expectancy are the key drivers for the growth of barrier
resins in India and China. Hence, pharmaceutical companies are aligning
their growth strategies on the rapidly expanding emerging markets,
particularly the BRICS nations.

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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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