The Packaging Laminates Market is poised for remarkable growth, projected to reach a value of US$ 10,410.2 million by 2033 from US$ 6,274.7 million in 2022, with a substantial CAGR of 5.1%. This surge is driven by escalating demands for information transparency, leading to the rapid adoption of clean-label and smart laminates. The market’s evolution signifies a shift from traditional packaging to an optimized ecosystem, encompassing cost-effective storage, supply, and product presentation across diverse business sectors. These laminates have become essential components that not only enhance product appeal but also meet the evolving expectations of modern consumers and businesses alike.
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.
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.
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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
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
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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