According to industry analysis, the multilayer flexible packaging market is projected to exceed rigid packaging and reach a value of US$210 billion between 2022 and 2029, with an anticipated Compound Annual Growth Rate (CAGR) of 3.5%.
Multilayer flexible packaging is in high demand globally due to its cost-effectiveness, durability, and lightweight characteristics. The market encompasses various types of flexible packaging, including bags, pouches & sachets, wrapping films, laminates, and others like liners and stick packs. Compared to rigid packaging, multilayer flexible packaging utilizes 70% less material during production and incorporates materials such as aluminum foil and metalized plastic sheets for the manufacturing of bags and pouches.
The substantial growth of the multilayer flexible packaging market is primarily driven by the increasing demand for packaged food and beverages. This type of packaging offers convenience and protection, making it an ideal choice for consumers. The market analysis highlights the key drivers, constraints, and opportunities expected to impact the industry’s expansion.
Furthermore, the report provides a competitive analysis, detailing the market shares held by major competitors. It presents a comprehensive overview of the global multilayer flexible packaging industry, including growth prospects, major trends, and challenges.
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Key Takeaways of Multilayer Flexible Packaging Market Study
- In terms of value, the pouches & sachets segment is expected to account for maximum market share in the global multilayer flexible packaging market during 2019-2029, attributable to the rising demand for small-sized sachets & pouches for the packaging of a variety of food products.
- By layer structure, the 5 layer segment is anticipated to grow 1.2X by the end of 2023.
- The plastic material segment is expected to create total incremental revenue opportunity of US$ 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
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
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