The global layer pads market is poised for substantial growth, driven by a multitude of factors. The market is anticipated to be valued at US$ 1,309.8 million in 2023, with a projected expansion to US$ 2,111.8 million by 2033, boasting a commendable CAGR of 5.6% throughout the analysis period.
One key driver of this growth is the increasing diversity in the import and export of fragile food products and glass bottles across the globe. As beverage consumption rises and manufacturing and packaging sectors expand, the demand for layer pads is expected to surge, especially during international transit.
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Layer pads offer a range of advantages, including barriers and lightweight properties that help businesses reduce costs in their supply chain and logistics operations. The growing sales of non-alcoholic and alcoholic beverages have been pivotal in boosting the market’s revenue.
Furthermore, the need for custom layer pad packaging in various industries is expected to generate significant revenue streams, with end-users recognizing the sustainability benefits during logistics and warehousing. Traditional materials like corrugated and paperboard continue to play a crucial role in safely transporting food products.
The layer pads market’s growth is further propelled by the expanding food and beverage industry, the evident advantages of layer pads, and the global demand for enhanced packaging solutions. Additionally, the increasing emphasis on environmental-friendly solutions in various countries is contributing to the rising demand for layer pads.
A recent increase in demand for layer pads can be attributed to the use of recyclable materials during manufacturing. Since layer pads are completely recyclable, they are a viable choice for shipping goods in the safest possible way. This is because people are becoming increasingly aware of the damage caused by excessive packaging using thermoform and plastic. To reduce its environmental footprint, Amazon, for example, has already begun using recycled plastic layer pads to ship its products.
“Food and beverage industry growth, layer pad benefits, and the growing need for improved packaging solutions are all driving market revenue growth. Several countries have taken action to increase environmental-friendly solutions’ availability and use, which is also driving market demand,” Says a lead analyst at Future Market Insights.
Key Takeaways from the Market Study
- The layer pads market is expected to record a CAGR of 5.6% over the forecast period.
- According to estimates, the layer pads market in the Asia Pacific is expected to remain strong throughout the length of the forecast period.
- The layer pads market registered year-on-year growth of 5.7% between 2022 and 2023, with sales reaching US$ 1,239.9 by the end of 2022.
- Sales in the beverage industry are expected to reach US$ 1.8 billion, expanding at 5.9% CAGR through 2023.
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Recent Developments:
- In partnership with TerraCycle, a waste management and recycling company, Amazon uses Loop InfinityTM packaging, which is made from 100% recycled and recyclable plastic.
- Corplex offers lightweight, easy-to-handle, reusable, and sustainable layer pads that are 100% recyclable. The product contributes to a sustainable future by reducing carbon emissions.
Competitive Landscape
As per FMI, top players are expected to account for over 15%-20% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue generation.
Some of the key players are also introducing sustainable paperboard layer pads, to attract revenue. They are also collaborating with local and international beverages companies to expand their customer base and gain competitive edge.
As per Future Market Insights, Smurfit Kappa Group, DS Smith, International Paper, KapStone Paper and Packaging Corporation are identified as top layer pads market players.
Layer Pads Market by Category
Material Type:
- Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- High Density Polyethylene (HDPE)
- Polyethylene (PE)
- Other Plastic Material
- Paperboard
- Chipboard
- Solid Fiberboard
- Corrugated
End User Base:
- Food & Agro Products
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Electronics
- Chemical
- Others (Manufacturing)
Shape Type:
- Die Cut Shape
- Flat Shape
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
- Japan
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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