The global layer pads market is poised for substantial growth, driven by a multitude of factors. The market is anticipated to be valued at USD 1,309.8 million in 2023, with a projected expansion to USD 2,111.8 million by 2033, boasting a commendable CAGR of 5.6% from 2023 to 2033.
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.
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.
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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.
“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 USD 1,239.9 by the end of 2022.
- Sales in the beverage industry are expected to reach USD 1.8 billion, expanding at 5.9% CAGR through 2023.
Competitive Landscape:
Several prominent companies dominate this market, including Smurfit Kappa Group, DS Smith PLC, International Paper Company, KapStone Paper and Packaging Corp, KARTON SpA, Corex Plastics Pvt. Ltd., Alpha Cikupa Makmur PT, GWP Group Limited, Shish Industries Limited, ER&GE Limited, QINGDAO TIANFULE PLASTIC Co. Ltd., Carton Northrich Inc., Mulford Plastics Pvt. Ltd., Romiley Board Mill, Crown Paper Converting, Samuel Grant Group Ltd., John Roberts Holdings Ltd., Mount Vernon Packaging Inc., Others
For manufacturers to survive in an increasingly competitive environment, they employ a variety of strategies, including launching updated products and approving mergers and acquisitions, partnerships, and collaborations. Their goal is to provide advanced plastic corrugated sheets that are both durable and functional, as well as environmentally friendly.
Recent Developments:
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In partnership with TerraCycle, a waste management and recycling company, Amazon uses Loop InfinityTM packaging, which is made from 100% recycled and recyclable plastic.
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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.
Market Segmentation by Category
By Material Type:
- Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- High Density Polyethylene (HDPE)
- Polyethylene (PE)
- Other Plastic Material
- Paperboard
- Chipboard
- Solid Fiberboard
- Corrugated
By End-user Base:
- Food & Agro Products
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Electronics
- Chemical
- Others (Manufacturing)
By Shape Type:
- Die Cut Shape
- Flat Shape
By Region Outlook:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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