DUBAI, UAE / ACCESSWIRE / October 6, 2020 / Future Market Insights: 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.
"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.
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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.
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Packaging Laminates Market - Market Segmentation
Material Type
- Aluminum Foil
- Paper & Paperboard
- Metallized PP
- Metallized BOPP
- Metallized OPP
- Metallized CPP
- Metallized PET
- Metallized PA
- Metallized PE
- Metallized PVC
- Others (PVC, EVOH, etc.)
Thickness
- Up to 30 Microns
- 30-45 Microns
- 45-60 Microns
- Above 60 Microns
Application
- Aseptic Packaging
- Non-aseptic Packaging
End-Use Industry
- Food
- Salty Snacks
- Confectionary
- Tea & Coffee
- Ready-to-eat Foods
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Others
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Get Valuable Insights into the Packaging Laminates Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global Packaging Laminates market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Packaging Laminates market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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