The multilayer flexible packaging market is expected to experience significant growth in the coming years, with a projected value of US$210 billion between 2022 and 2029, indicating a compound annual growth rate (CAGR) of 3.5%. This growth is driven by various factors.
Multilayer flexible packaging offers numerous advantages over rigid packaging, making it increasingly popular among manufacturers and consumers. It is cost-effective, lightweight, and durable, providing convenience and sustainability benefits, as it utilizes 70% less material during production compared to rigid packaging.
The market includes various packaging types such as bags, pouches & sachets, wrapping films, laminates, and others like liners and stick packs, catering to diverse industry needs.
The rising demand for packaged food and beverages is a key driver of the multilayer flexible packaging market. Consumers seek convenient and protected food and drink products, and multilayer flexible packaging meets these requirements. The growing demand for on-the-go and ready-to-eat food products, driven by urbanization and busy lifestyles, is expected to further boost market growth.
The report provides valuable insights into the competitive landscape of the multilayer flexible packaging industry, identifying major competitors and their strategies. It covers growth prospects, major trends, and challenges that will shape the industry’s expansion.
The report aims to assist stakeholders, including suppliers, manufacturers, and investors, in making informed decisions by offering a thorough examination of the market and considering all crucial aspects. Interested parties can access 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.
Competitive Landscape
The key players in multilayer flexible packaging market are working around flexible plastic packaging films with MAP (modified atmosphere packaging) properties that let tabling diverse scales of permeability to adjust internal environment of package for optimizing the product’s shelf life. Packaged products’ respiration needs are being catered to using finely adjusted and controlled component structure of nitrogen, oxygen, and carbon dioxide.
- Saperatec, a Germany-based start-up, is emphasizing on development of new-fangled packaging technologies using aluminum foils.
- CP-Flexible Packaging has come up with a series of flexible packaging that eyes sustainability, recyclability, and composting of the materials. These materials show 40% feasibility for recycling
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Key Players:
- Scientex
- Constantia Flexibles
- Glenroy
- Berry Global Group
- Amcor
- Mondi Group
- Coveris Holdings
Report Benefits & Key Questions Answered:
• Historical Market Analysis: FMI’s comprehensive survey examines the factors that influenced the growth of the Multilayer Flexible Packaging market from 2014 to 2021. It analyzes their impact on the market and provides refined sales projections for the forecast period from 2022 to 2029.
• Demand Outlook Analysis: FMI’s in-depth study provides insights into the key drivers and upcoming opportunities that will drive the demand for Multilayer Flexible Packaging during the assessment period. The study indicates robust growth in demand for Multilayer Flexible Packaging between 2022 and 2029.
• Market Trend Analysis: FMI’s latest study on the Multilayer Flexible Packaging market reveals the expansion strategies adopted by top-tier players in response to current trends. It also highlights upcoming trends in the packaging industry to assist market players in formulating effective strategies 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)
-
- 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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