The market for packaging laminates is expected to surpass US$ 5.9 billion in 2022 and grow steadily at a CAGR of 5% to US$ 8.9 billion by 2030. In a recent market study by Future Market Insights (FMI) on the packaging laminates market is poised to expand at a steady 5% CAGR throughout the projected period, 2020-2030. The growth can be mainly attributed to the increasing shelf lives of food items along with other perishable commodities and an easy way to preserve goods. Several industries such as pharmaceuticals, food, and personal care & cosmetics are increasing consumption of packaging laminates. Market players are offering products as per industry requirements to maintain their competitive edge. Furthermore, they are reinforcing their existence by upgrading their product lines and establishing robust distribution and supplier networks.
However, the COVID-19 Pandemic has introduced a major slowdown of growth across various end-use industries due to the interruption of manufacturing cycles amid strict lockdowns. FMI anticipates that the demand will gain traction by the beginning of 2021 as a result of a surge in intake of healthcare consumables, processed & fresh ready-to-eat foods and homecare & hygiene products are prompting vendors to fortify their supply chains.
Download a Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12540
“Stringent environmental compliance standards to decrease waste is compelling vendors to initiate sustainable & eco-friendly packaging material, offering future growth prospects,” infers an FMI analyst.
Packaging Laminates Market – Key Takeaways
- In terms of material type, the Metallized polypropylene (PP) films will attain more than 35% of the revenue share, recording an optimistic 5.1% value CAGR throughout the assessment period.
- Based on thickness, the 30-45 microns category will attain the majority of market share reaching US$ 4.0 Bn by 2030, as it is the ideal size utilized for packaging several items, chiefly perishable foodstuffs.
- Based on application, aseptic packaging will remain the key beneficiary of the global market, recording a 5.1% CAGR across the assessment period.
- By the end-use industry, the food industry will account for a market share of over 50% by 2030.
Packaging Laminates Market – Key Trends
- Packaging laminates printing to enhance brand image and their brand value to meet consumers’ customized requirements are likely to gain momentum during the forecast period.
- The surge in demand for immunity-boosting foods, hygiene products, and healthcare consumables have augmented the requirement for packaging laminates.
- Growing adoption of flexible packaging solutions complementing market growth as it enhances the product’s shelf-life and convenient user experience.
- Expansion of modern retail format allowing to accommodate ready-to-eat packaged foods, pharmaceutical, and cosmetics products, thus boosting demand for packaging laminates
Packaging Laminates Market – Regional Analysis
- North America will reflect lucrative growth prospects, recording a CAGR of 3.8% over 2020-2030, due to the presence of major players in the region.
- Europe, led primarily by Germany, is projected to enjoy lions share valued at over half of the total revenue.
- East Asia, mainly dominated by China will account for one-fifth of the overall revenue share due to rapid industrial development.
Packaging Laminates Market – Competitive Landscape
Key companies functioning in the global packaging laminates market are WIN-PAK LTD, Amcor Plc, Berry Group Global Inc., Mondi Group Plc, Scur Flexibles Holding GmbH, Jindal Poly Films Limited, ProAmpac LLC Uflex Ltd., and Coveris Holdings S.A.
Packaging Laminates Market – Market Segmentation
- Aluminum Foil
- Paper & Paperboard
- Metallized PP
- Metallized BOPP
- Metallized OPP
- Metallized CPP
- Metallized PET
- Metallized PA
- Metallized PE
- Metallized PVC
- Others (PVC, EVOH, etc.)
- Up to 30 Microns
- 30-45 Microns
- 45-60 Microns
- Above 60 Microns
- Aseptic Packaging
- Non-aseptic Packaging
- Salty Snacks
- Tea & Coffee
- Ready-to-eat Foods
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Cosmetics & Personal Care
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-12540
- To analyze and forecast the global Packaging Laminates market size in terms of value and volume
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To define, describe, and forecast the market by type, material, and application
- To forecast the market size with respect to five main regions: Asia Pacific (APAC), the Middle East & Africa, Europe, North America, and South America
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To analyze competitive developments in the market, such as investments & expansions, new product developments, partnerships & collaborations, and mergers & acquisitions