Packaging Laminates Market are expected to grow at a significant CAGR of 5.1% by 2033

Packaging Laminates Market

The packaging laminates market size is projected to be valued at US$ 6,274.7 million in 2022 and is expected to rise to US$ 10,410.2 million by 2033. The sales of packaging laminates are expected to grow at a significant CAGR of 5.1% during the forecast period.

Packaging is critical in product promotion and branding. It has progressed from a requirement of the business strategy to an essential component of the business strategy.

The preference of consumers for packaging laminates to fasten flexible packaging materials is changing as there are more manufacturing facilities, food processing facilities, and industrial production sets.

It is anticipated that rising packaged food spending in both established and emerging nations is likely to fuel the expansion of the laminating adhesive market.

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  • Consumers, corporations, and government agencies in the United States spent US$ 1.71 trillion on food and beverages in grocery stores and other shops as well as on takeout meals and snacks in 2018, according to the U.S. Department of Agriculture Economic Research Service.

It is anticipated that developing economies like the BRICS (Brazil, Russia, India, China, and South Africa) can witness a sharp increase in GDP growth. The manufacturing sector is anticipated to rise as a result, which is anticipated to fuel the market expansion of packaging laminates.

Producers are opting to expand their polypropylene production lines, which is an essential raw material for packaging. This scenario is predicted to propel raw material production for packaging solutions in a variety of countries around the world.

Key Takeaways from Market Study

  • In terms of material type, the metallized polypropylene (PP) films are anticipated to attain more than 35% of the revenue share, recording an optimistic 5.1% value CAGR throughout the assessment period due to their high flexibility and durability.
  • Based on thickness, the 30-45 microns category is likely to command market share reaching US$ 4.0 Bn by 2030, as it is the ideal size utilized for packaging several items, chiefly perishable foodstuffs.
  • Based on application, aseptic packaging is the key beneficiary of the global market, recording a 4.9% CAGR across the assessment period. Consumer preferences for instant food and high-quality meals, as well as the expansion of the dairy beverage industry, are driving sales of aseptic packaging.
  • According to FMI, the United States is expected to dominate the North America packaging laminates market with a market share of 81.7% during the assessment period, owing to rising packaged food consumption, the expansion of the medical device packaging market, and the presence of key market players.
  • India is anticipated to develop into a very lucrative market for packaging laminates over the forecast period due to the rising popularity of packaging laminates in packaging applications and the expansion of end-use verticals. According to emerging trends, India is likely to command Asia Pacific, which currently accounts for 49.2% of global income, in 2022.

“Stringent environmental compliance standards to decrease waste is compelling vendors to initiate sustainable & eco-friendly packaging material, offering future growth prospects,” infers an FMI analyst.

Packaging Laminates Market – Key Takeaways

  • In terms of material type, the Metallized polypropylene (PP) films will attain more than 35% of the revenue share, recording an optimistic 5.1% value CAGR throughout the assessment period.
  • Based on thickness, the 30-45 microns category will attain the majority of market share reaching US$ 4.0 Bn by 2030, as it is the ideal size utilized for packaging several items, chiefly perishable foodstuffs.
  • Based on application, aseptic packaging will remain the key beneficiary of the global market, recording a 5.1% CAGR across the assessment period.
  • By the end-use industry, the food industry will account for a market share of over 50% by 2030.

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Packaging Laminates Market – Key Trends

  • Packaging laminates printing to enhance brand image and their brand value to meet consumers’ customized requirements are likely to gain momentum during the forecast period.
  • The surge in demand for immunity-boosting foods, hygiene products, and healthcare consumables have augmented the requirement for packaging laminates.
  • Growing adoption of flexible packaging solutions complementing market growth as it enhances the product’s shelf-life and convenient user experience.
  • Expansion of modern retail format allowing to accommodate ready-to-eat packaged foods, pharmaceutical, and cosmetics products, thus boosting demand for packaging laminates

Packaging Laminates Market – Regional Analysis

  • North America will reflect lucrative growth prospects, recording a CAGR of 3.8% over 2020-2030, due to the presence of major players in the region.
  • Europe, led primarily by Germany, is projected to enjoy lion’s share valued at over half of the total revenue.
  • East Asia, mainly dominated by China will account for one-fifth of the overall revenue share due to rapid industrial development.

Packaging Laminates Market – Competitive Landscape

Key companies functioning in the global packaging laminates market are WIN-PAK LTD, Amcor Plc, Berry Group Global Inc., Mondi Group Plc, Scur Flexibles Holding GmbH, Jindal Poly Films Limited, ProAmpac LLC Uflex Ltd., and Coveris Holdings S.A.

Packaging Laminates Market – Market Segmentation

Material Type

  • Aluminium Foil
  • Paper & Paperboard
  • Metallized PP
  • Metallized BOPP
  • Metallized OPP
  • Metallized CPP
  • Metallized PET
  • Metallized PA
  • Metallized PE
  • Metallized PVC
  • Others (PVC, EVOH, etc.)

Thickness

  • Up to 30 Microns
  • 30-45 Microns
  • 45-60 Microns
  • Above 60 Microns

Application

  • Aseptic Packaging
  • Non-aseptic Packaging

End-Use Industry

  • Food
  • Salty Snacks
  • Confectionary
  • Tea & Coffee
  • Ready-to-eat Foods
  • Meat, Poultry & Seafood
  • Fruits & Vegetables
  • Others
  • Pharmaceuticals
  • Cosmetics & Personal Care
  • Others

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Report Objectives

  • To analyze and forecast the global Packaging Laminates market size in terms of value and volume
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To define, describe, and forecast the market by type, material, and application
  • To forecast the market size with respect to five main regions: Asia Pacific (APAC), the Middle East & Africa, Europe, North America, and South America
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments in the market, such as investments & expansions, new product developments, partnerships & collaborations, and mergers & acquisitions

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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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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