Barrier Coated Flexible Paper Packaging Market Trends

Growth Drivers

• Rising Demand for Flexible Paper in Baby Food Packaging- Baby food, as the name suggests, is a particular meal to be consumed by babies. Baby food is prepared with highly balanced nutrition that is aimed at copying breast milk. A wide array of baby food is available in the market to fulfill the need of newborns. Baby food requires certain types of packaging to preserve its health properties. Hence the demand for barrier-coated flexible paper packaging emerged. It is estimated that in 2022, the baby food segment dropped to approximately USD 280 billion.
• Growing Production of Paperboard with the Rising use of Eco-friendly Products- As of 2021, globally the total consumption of paperboard was estimated to be approximately 400 million tons and is projected to reach around 150 million tons by the year 2032.
• Increasing Utilization of Snack Packaging with Increasing Demand for Ready-Made Food- For instance, in 2023, the revenue generated by the snack food segment was estimated to be about USD 108.50 billion in United States.
• Escalation in the Export and Import of Coffee & Tea Across the World - In 2020-21, it was observed that around 160 million bags of coffee were consumed by the global population.

Challenges

• Presence of Alternatives in the Market - The presence of alternative materials such as biodegradable plastics, recycled plastics, and corrugated bubble wrap. Plastic is more water-resistant than paper packaging and other sustainable packaging options are estimated to hinder the market growth. These materials do not require any barrier coating to protect them from water vapor, humidity, and oxygen.

• Disrupted Supply-Chain due to COVID-19
• Requirement for Higher Initial Investment