The strip pack laminates market refers to the packaging material that is used to package various products in strip form. Strip pack laminates are a type of flexible packaging material that is composed of multiple layers of plastic and/or aluminum materials. These materials provide an effective barrier against moisture, light, and oxygen, which helps to protect the product inside from spoilage, degradation, or damage.
The strip pack laminates market is set to thrive at a CAGR of 5.0% while projecting a value of USD 256.12 Million. The market holds USD 165.1 Million in 2022.
Strip pack laminates are widely used in the pharmaceutical and healthcare industry for packaging tablets, capsules, and other solid dosage forms. They are also used in the food and beverage industry for packaging products such as gums, candies, and granules. In addition, strip pack laminates are used in the personal care and cosmetic industry for packaging products such as facial wipes, hair care products, and facial masks.
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The strip pack laminates market is expected to experience significant growth in the coming years, driven by factors such as increasing demand for convenient and easy-to-use packaging solutions, growing demand for packaged food and beverages, and increasing consumer preference for compact and portable packaging. The market is also expected to be driven by the increasing use of strip pack laminates in the pharmaceutical and healthcare industry, as these materials provide an effective barrier against moisture and oxygen, which helps to protect the integrity of the product inside.
Strip pack laminates: Market Dynamics
The global strip pack laminates market is expected to grow at a healthy rate over the forecast period. The strip pack laminates market is primarily driven by the increasing growth in the pharmaceutical industry as the strip packs laminates are widely used in the pharmaceutical packaging especially for pills, tablets and capsules.
Strip pack laminates are gaining traction among the pharmaceutical packaging manufactures owing to the anti-counterfeit property. The other benefits associated with strip pack laminates also accelerates the demand in the strip pack laminates market.
Some of the advantages are as follows: these laminates are cost effective and are provide an affordable packaging solution as well, these are also available in pre-made bags or pouches, can be tailored to meet specific barrier, available in customized barrier levels (UV, Water, gas etc.) and also allows high quality print and large surface design.
Furthermore, Strip pack laminates are available with customized solutions for different brand owners. Various pharmaceutical manufacturing companies are using this as a packaging solution to enhance the brand visibility. This product is available in the market in different designs and shapes to cater the specific requirements of the consumer.
In addition, rising demand of light weight pharmaceutical packaging also acts as one of the factors that is positively boosting the demand in the strip pack laminates market.
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Strip pack laminates Market: Key players
Some of the key players in the global strip pack laminates market are Amcor limited, UBM LLC, KAA Timex LR, Green Pack Foils Pvt. Ltd., ETW international etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Also, the companies are launching new products in order to maintain the competitive advantages in air bags packaging market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
Strip pack laminates: Market Segmentation
The global strip pack laminates market is segmented on the basis of type of the material type, application type
Based on the material type the global strip pack laminates market is segmented into:
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- Aluminum
- Polyethylene (PE)
- Polypropylene (PP)
- Surlyn
Based on the application type the global strip pack laminates market is segmented into:
- Medicines
- Oral dissolve strips
- Transdermal & Transmucosal
- Nutraceuticals
- Powders & granules
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