Transparent Barrier Packaging Films (TBPF) Market to Grow with a CAGR of 4.74% through 2028
Growth in research and development activities are expected to drive the Global
Transparent Barrier Packaging Films (TBPF) Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Transparent
Barrier Packaging Films (TBPF)Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global
Transparent Barrier Packaging Films (TBPF) Market stood at USD 6.95 billion in
2022 and is anticipated to grow with a CAGR of 4.74% in the forecast period,
2023-2028. The initiatives taken by government based on transparent barrier packaging
films (TBPF) has led to favorable market conditions for the Global Transparent
Barrier Packaging Films (TBPF) Market. Several factors contribute to the growth
of various transparent barrier packaging films (TBPF)products. Government
policies promoting sustainable practices and the use of environment-friendly
materials have driven manufacturers to come up with innovative packaging
solutions, such as TBPF (Thermoplastic Bio-Based Films). These films, often
made from recyclable and biodegradable materials, not only align with
sustainability goals but also contribute to reducing the environmental impact
of packaging. Some
governments, recognizing the importance of sustainable packaging, have made
significant investments in the packaging sector. By encouraging innovations and
advancements in technologies like TBPF, they aim to foster a more sustainable
and eco-friendly approach to packaging. Favorable regulatory policies have
played a crucial role in the growth of the TBPF market. For instance,
regulations supporting the use of high-barrier, recyclable packaging solutions
have not only created opportunities for the adoption of TBPF but also spurred
further developments in this field. These regulations aim to address the
challenges of plastic waste and promote the transition towards more sustainable
packaging alternatives.
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Transparent Barrier Packaging Films (TBPF) Market”
The
intensification of research and development (R&D) activities has directly
contributed to the substantial growth of the transparent barrier films (TBPF)
market. With continuous advancements and innovations, new developments have led
to the emergence of high-quality and versatile transparent barrier films that
find applications across various industries, notably the food industry. These
films offer exceptional barrier properties, effectively protecting food
products from moisture, oxygen, and other external factors that can compromise
their quality and shelf life. The high demand
for these advanced films in the food sector can be attributed to the growing
need for longer shelf life and better food quality. Consumers today seek
products that maintain freshness and taste, and transparent barrier films play
a crucial role in meeting these expectations. As a result, the market for TBPFs
has experienced significant growth, driven by the increasing demand from food
manufacturers and processors.
Moreover, the
focus on sustainable solutions has opened up new avenues of opportunities in
the transparent barrier films market. In response to the rising concerns about
plastic waste and environmental impact, the development of recyclable and
biodegradable TBPFs has gained momentum. These eco-friendly alternatives not
only meet the increasing consumer demand for sustainable and environmentally
friendly products but also align with stringent government regulations on
sustainability. This dual benefit of addressing consumer preferences and
regulatory requirements has further fueled the market growth of transparent
barrier films. In summary, the
intensified R&D activities, coupled with the emergence of high-quality and
versatile transparent barrier films, have boosted the growth of the TBPF
market. The high demand for these films in the food sector, driven by the need
for extended shelf life and improved food quality, has played a significant
role in this growth. Additionally, the focus on sustainable solutions,
including the development of recyclable and biodegradable TBPFs, has presented
new opportunities and propelled the market forward. The Global
Transparent Barrier Packaging Films (TBPF) Market is segmented into type, end
user, regional distribution, and company.
Based on its type, the pouch packaging segment held
the largest share in the market. Pouches, with their portable and compact
nature, offer a convenient packaging solution that surpasses traditional rigid
packaging in terms of versatility. Their size and flexibility make them an
ideal choice not only for single-serving products and travel-sized items but
also for a wide range of other consumer goods, catering to the ever-evolving
needs of busy individuals. In addition to their portability, pouches possess
another remarkable advantage over rigid packaging materials. Compared to
heavyweight options like glass or plastic bottles, pouches are significantly
lighter, resulting in reduced transportation costs and a lesser environmental
impact. This lightweight characteristic aligns perfectly with sustainability
goals, making pouches a smart choice for brands aiming to minimize their carbon
footprint while delivering high-quality products to consumers.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The Asia-Pacific region, encompassing countries like
China and India, has witnessed remarkable economic growth over the past few
decades. This sustained growth has not only propelled the region's overall
development but has also had a profound impact on consumer behavior. As
disposable incomes have risen, there has been a significant expansion of the
middle-class population in Asia-Pacific. This burgeoning demographic,
characterized by its changing lifestyle and preferences, has increasingly
embraced packaged and convenient goods.
Consequently, the demand for TBPF (Tinplate-based
Packaging for Food) has surged, as these packaging solutions cater to the
evolving needs of the region's discerning consumers, offering durability,
convenience, and preservation of food quality. This vibrant market dynamics,
driven by the interplay of economic growth, evolving consumer preferences, and
the rise of the middle class, has established Asia-Pacific as a thriving hub
for TBPF packaging, with promising growth prospects in the foreseeable future.
Major companies operating in Global Transparent
Barrier Packaging Films (TBPF) Market are:
- 3M Co.
- Amcor Plc
- Berry Global Group Inc.
- CCL Industries Inc.
- Celplast Metallized Products Ltd
- Cosmo Films Ltd
- Dai Nippon Printing Co. Ltd.
- DUO PLAST AG
- DuPont de Nemours Inc.
- Jindal Poly Films Ltd.
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“Growing application of transparent barrier packaging films
(TBPF) in various end user industries are key drivers of the transparent barrier
packaging films (TBPF) market. Growth in competitive landscape and presence of
well-established companies in the market who are dedicated to enhance their
productivity of transparent barrier packaging films (TBPF) with every passing
year are anticipated to register an impressive growth to Global Transparent
Barrier Packaging Films (TBPF) Market in the forecast period.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Transparent Barrier Packaging Films (TBPF) Market
By Type (Pouch Packaging, Skin Packaging, Windowed Packaging), By End User (Consumer
Goods, Personal Care, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Transparent Barrier Packaging Films
(TBPF) Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Transparent Barrier
Packaging Films (TBPF) Market.
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