The multilayer flexible packaging market is expected to surpass rigid packaging and reach a value of US$210 billion between 2022 and 2029, with a projected CAGR of 3.5%.
Multilayer flexible packaging is in high demand worldwide due to its numerous advantages, including cost-effectiveness, durability, and lightweight nature. This market analysis covers various types of flexible packaging, such as bags, pouches & sachets, wrapping films, laminates, and others (liners, stick packs, etc.). Multilayer flexible packaging utilizes 70% less material during production compared to rigid packaging. Aluminum foil and metalized plastic sheets are increasingly being used in the production of flexible packaging bags and pouches.
The growing demand for packaged food and beverages is expected to drive significant growth in the multilayer flexible packaging market during the forecast period. The report includes an analysis of the main market drivers, constraints, and opportunities that are anticipated to impact the industry’s growth.
Additionally, the report provides a competitive analysis of the market, presenting details on the market shares of major competitors. It offers a comprehensive overview of the global multilayer flexible packaging industry, highlighting growth prospects, major trends, and challenges.
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Key Takeaways of Multilayer Flexible Packaging Market Study
- In terms of value, the pouches & sachets segment is expected to account for maximum market share in the global multilayer flexible packaging market during 2019-2029, attributable to the rising demand for small-sized sachets & pouches for the packaging of a variety of food products.
- By layer structure, the 5 layer segment is anticipated to grow 1.2X by the end of 2023.
- The plastic material segment is expected to create total incremental revenue opportunity of US$ 96 Bn by the end of 2029, owing to ease of availability and cost-effectiveness.
- North America is anticipated to maintain its dominance in the global multilayer flexible packaging market during the forecast period. This growth can be attributed to the presence of well-established market players in the region. East Asia and South Asia are anticipated to be highly lucrative markets, on the back of significant consumption and production of multilayer flexible packaging solutions at cost-effective rates.
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Key Players:
- Scientex
- Constantia Flexibles
- Glenroy
- Berry Global Group
- Amcor
- Mondi Group
- Coveris Holdings
Region-wise Insights
North America holds the largest market share, followed by Europe. However, the future is expected to witness the Asia-Pacific taking over Europe due to the key players looking towards the Asia-Pacific as the potential hotspot for multilayer flexible packaging. This could be attributed to cheap labor and curtailment of overheads in this region.
As of now, LATAM and MEA are not much known in multilayer flexible packaging market, but the upcoming period is expected to see these two regions make a mark with rapid industrialization in countries like Brazil, Nigeria, South Africa, and likewise. Going forward, the likelihood of the Asia-Pacific, MEA, and LATAM turning out to be manufacturing hubs of multilayer flexible packaging cannot be ruled out.
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Key Segments Covered in Multilayer Flexible Packaging Industry Research
Multilayer Flexible Packaging Market by Product
- Bags
- Pouches & Sachets
- Wrapping Films
- Laminates
- Others (Liners, Stick Packs, etc.)
Multilayer Flexible Packaging Market by Material
- Plastic
- Polypropylene (PP)
- BOPP
- CPP
- OPP
- Polyethylene (PE)
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- LDPE
- LLDPE
- HDPE
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