The multilayer flexible packaging market is expected to experience significant growth in the coming years. Its projected value of US$210 billion between 2022 and 2029 indicates a compound annual growth rate (CAGR) of 3.5%. This growth can be attributed to several factors.
Firstly, multilayer flexible packaging offers several advantages over rigid packaging, making it increasingly popular. It is cost-effective, durable, and lightweight, which makes it convenient for both manufacturers and consumers. Moreover, multilayer flexible packaging utilizes 70% less material during production compared to rigid packaging, making it a more sustainable option.
The market for multilayer flexible packaging encompasses various types of packaging, such as bags, pouches & sachets, wrapping films, laminates, and others like liners and stick packs. This wide range of options caters to diverse industry needs.
One of the primary drivers of the multilayer flexible packaging market is the increasing demand for packaged food and beverages. Consumers seek convenience and protection for their food and drinks, and multilayer flexible packaging provides the necessary attributes. This demand is expected to continue growing, particularly as urbanization and busy lifestyles drive the need for on-the-go and ready-to-eat food products.
The report also emphasizes the competitive landscape of the multilayer flexible packaging industry, providing information on the market shares held by major competitors. This analysis helps identify the key players and their strategies in the market. Additionally, the report covers growth prospects, major trends, and challenges that are expected to shape the industry’s expansion.
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The report aims to assist stakeholders, such as suppliers, manufacturers, and investors, in making informed decisions by offering a thorough examination of the market and considering all crucial aspects of the industry. Interested parties can purchase the report on the provider’s website, with options for customized research.
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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
Report Benefits & Key Questions Answered
• Multilayer Flexible Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Water Resistant Packaging market that affected the growth in the market for the last assessment period 2014–2021 and also studies their consequent impact. It also provide refined the sales projection of the Water Multilayer Flexible Packaging market for the forecast period 2022 to 2029
• Multilayer Flexible Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Multilayer Flexible Packaging for the assessment period. As per the study, the demand for Multilayer Flexible Packaging will grow at a robust CAGR between 2022 to 2029.
• Multilayer Flexible Packaging Market Trend Analysis: The latest study by FMI on the Multilayer Flexible Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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