[FURL=https://www.industryarc.com/Report/16431/barrier-resins-market.html]Barrier Resins Market[/FURL] size is forecast to reach $3.3 billion by 2025, after growing at a CAGR of 5.2% during 2020-2025. The global demand for barrier resins is expected to experience growth with the rising preference for packaged food over unpacked food. The increasing concern of health and hygiene is leading consumers to opt for packaged food which is healthier and less likely to cause adverse effects. Also, the rise in the pharmaceutical packaging industry in developed economies, improved shelf-life of packaged food products, increased urbanization, and evolving lifestyle patterns continue to drive the Food packaging market which is expected to boost the barrier resins industry over the forecast period.Key Takeaways
APAC dominates the barrier resins market owing to the rapid urbanization and increased life of processed food products with the use of barrier resins in driving the food packaging market.
Increasing demand for barrier resins to prevent loss of flavour and to prevent permeation of oxygen in eatables will drive the market for barrier resins in the projected period.
Consumers' rising understanding of safe buying and increasing demand for well-packaged foods is the key driver for the resin barrier industry.
Since, the researchers and scientists are coming up with modern, more effective, and economical polymers, the barrier resins market has a lot of room in the research &development division.
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Barrier Resins Market Segment Analysis - Geography
Asia Pacific held the largest share with 37% in the barrier resins market in 2019, due to higher demand for the barrier resins materials from the food & beverage industry in the region. Asia-Pacific is expected, to remain the most rapidly expanding regional barrier resin segment, due to the increased demand for barrier resins, particularly in China and India, and is expected to fuel the barrier resin market growth in the Asia Pacific region. According to the China Chain Store & Franchise Association, the food and beverage (F&B) market in China reached approximately $595 billion in 2019, an increase of 7.8 per cent over 2018.
Barrier Resins Market Drivers
Increasing demand for EVOH (Ethylene-Vinyl Alcohol)
High Growth of Barrier Resins for Pharmaceutical & Medical Packaging
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the barrier resins market. Major players in the barrier resins market are The Dow Chemical Company, Honeywell International, Inc., Mitsui Chemicals, Inc., EVAL Europe N.V, NOVA Chemicals Corporation, INVISTA, Kuraray Co., Ltd, Asahi Kasei Corporation, DuPont, and INEOS among others.
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