New Research Study Shows EVOH Resins Market for Food Applications to Reach US$ 576,173.9 Thousand by 2028

The EVOH resins market for food application was valued at US$ 576,173.9 thousand in 2021 and is projected to reach US$ 770,199.9 thousand by 2028..

NEW YORK, UNITED STATES, April 10, 2023 /EINPresswire.com/ -- A new research study titled "EVOH Resins Market for Food Application Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, End-Use, and Geography" has revealed that the EVOH resins market for food applications is set to reach US$ 576,173.9 thousand by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.4% from 2021 to 2028. This significant growth is mainly attributed to the increasing demand in the food packaging sector. The study projects that the market will witness a decrease from US$ 770,199.9 thousand in 2021 to US$ 748,228.6 thousand in 2022 due to the impact of the COVID-19 pandemic. However, the market is expected to recover and grow steadily from 2022 to 2028. The research study analyzed the market by application, end-use, and geography to provide a comprehensive outlook on the market's growth prospects.

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In 2021, Asia Pacific held the largest share of the EVOH resins market for food application. The rising innovation in sustainable packaging is propelling the demand for EVOH resins in packaging. Companies are focusing on developing more sustainable packaging, such as increasing barrier properties of EVOH resin packaging, which keeps food products fresh.

The uptake of EVOH resins is increasing among manufacturers as they are extensively used to extend the shelf life of food products. The Asia Pacific market is expected to open many untapped opportunities, driven by population growth, rising per capita income, and consumer awareness of packaging to ensure safe food consumption.

Furthermore, China has emerged as a manufacturing hub for EVOH resin packaging, which is also contributing to the market growth. The growing demand for ready-to-eat food is expected to stimulate packaged food, increasing the need for EVOH resins during the forecast period. The consumption of fast-food products is also gaining momentum due to the ever-expanding urban population and the continual rise in the workforce. Due to the high demand for ready-to-eat foods, consumers' preference for healthy foods and beverages will also accelerate the market for EVOH resins over the coming years.

Increasing Application in Food Packaging Sector favor EVOH Resins Market for Food Application

EVOH resins are specially used as a barrier in packaging, such as films, trays, and bottles, via the co-extrusion process to protect meals from oxygen, which can create moisture in packed food. The increasing population and the rising per capita disposable income of consumers are fueling the demand for packed food.

Changing lifestyles of consumers and the increasing consumption of bread, sausages, and other snacks, especially in Germany and the UK, are driving the demand for EVOH resins in the food packaging sector. The growing need for packaging with high barrier properties, the surge in the requirement to increase shelf life, and consumer safety are the factors boosting the EVOH resins market for food application.
The rising awareness regarding consumable hygiene and clean room packaging increases the EVOH application in the food packaging industry. Manufacturers are taking additional precautions to preserve foods' quality and shelf life using technology-based packaging.

Interactive food packaging is gaining popularity among health-conscious consumers. EVOH packaging offers value-added solutions. Also, it is a cost-effective packaging solution that helps maintain the quality of food products in the supply chain in all environmental conditions. EVOH packaging also helps include antimicrobial, antioxidants, and moisture absorbers, which delay the ripening of food products and prolong shelf life by reducing microbial growth. Further, with the increasing awareness about environmental pollution and global warming, consumers are preferring to use eco-friendly food packaging, aiding the demand for EVOH resins in the food packaging sector.

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EVOH Resins Market for Food Application Market: Segmental Overview

Based on application, the market is segmented into films, trays, bottles, bag-in-box, and others. The demand for films is anticipated to grow significantly during the studied forecast period. EVOH is a flexible, crystal clear, and glossy thermoplastic copolymer with excellent flex-crack resistance and high resistance to hydrocarbons, oils, and organic solvents. EVOH films have good barrier properties to gases, such as oxygen, nitrogen, and carbon dioxide, which make them suited for packaging food and other perishable or delicate products to extend shelf life. In comparison with many other common films, EVOH has superior barrier properties. However, EVOH loses its good gas barrier properties when exposed to moisture.

EVOH films are also difficult to recycle because the EVOH oxygen barrier layer sandwiched between 2 or more PE layers tends to grow when reprocessed, resulting in holes in the recycled PE film. On the upside, EVOH waste does not produce toxic or harmful by-products when properly incinerated.

Based on end-use, the market is segmented into bakery and confectionery; beverages; sauces and dressings; meat, poultry, and seafood; RTE foods and meals; and others. The demand for EVOH resins in the meat, poultry, and seafood segment is anticipated to grow significantly during the studied forecast period.

Packaging of meat is critical, especially when it comes to fresh meat. Since fresh meat, poultry and seafood are perishable, and weight loss due to dehydration can increase the decay rate, extending shelf life remains a key objective for packaging. Implementing EVOH as a packaging material barrier extends the meat's shelf life. EVOH has outstanding barrier properties against gases, such as oxygen, nitrogen, carbon dioxide, and helium. These gases are widely used in modified atmosphere packages. EVOH resins for packaging have antistatic properties, which ensure that dust particles in the atmosphere do not settle down on the packaging to prevent microbial growth.

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