The global strip pack laminates market is on track to grow at a CAGR of 5.0%, with its valuation expected to rise from USD 165.1 million in 2022 to USD 256.12 million by 2032. This growth is driven by advancements in pharmaceutical packaging, increasing use of nutritional supplements, and the rise of e-commerce.
Driven by the burgeoning pharmaceutical sector and the surge in demand for medications and nutritional supplements, the strip pack laminates industry is witnessing profitable expansion opportunities. The need for packaging solutions to safeguard pharmaceutical products, particularly amid the COVID-19 pandemic, has further fueled the growth of strip pack laminates.
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Moreover, the continuous expansion of the e-commerce sector has provided a significant boost to the strip pack laminates market. With modern healthcare professionals and consumers alike demanding convenient and sustainable packaging solutions, strip pack laminate producers are investing heavily in research and development to meet these evolving expectations.
Key Trends Shaping the Strip Pack Laminates Market:
- Delivery-Friendly Packaging: Manufacturers are focusing on creating strip pack laminates that are conducive to efficient delivery via e-commerce platforms, catering to the growing demand for online purchasing.
- Sustainability Initiatives: Leading players in the strip pack laminates market are prioritizing the development of sustainable packaging solutions by reducing environmental impact and enhancing recyclability rates. Aluminum is increasingly being employed as a material to achieve sustainability goals.
- Investment in Recycling Infrastructure: Strip pack laminate manufacturers are investing in recycling and recovery facilities to support the growing ecosystem for sustainable packaging solutions. Efforts are also directed towards developing recyclable thermoformed packaging suitable for medicinal items.
- E-commerce Influence:
- Growth in online healthcare product sales has increased the demand for delivery-friendly and durable strip pack laminates.
- Consumers and healthcare professionals alike prefer packaging that combines convenience, durability, and sustainability.
Latest Developments by Strip Pack Laminates Manufacturers:
- Addressing Packaging Challenges: Manufacturers are striving to address unforeseen obstacles posed by new biological prescription treatments, which require alternative packaging solutions due to their molecular compositions.
- Value-Added Services: To enhance customer satisfaction, strip pack laminate producers are offering value-added services such as spray painting, UV coating, metallization, and anti-counterfeit packaging techniques.
Strip Pack Laminates Market Overview
Strip pack laminates are one of the popular packaging solution among the pharmaceutical companies. Some of the important characteristics associated with strip pack laminates that makes it a preferred choice among pharmaceutical companies are as follows: these strips reduces the spillage, are easy to open and hence provides convenience, provides anti-counterfeiting features, improves brand recognition.
Further, light weight of the strip pack laminates is also expected to be one factor for increasing acceptance of the product. Moreover, strip pack laminates increases the shelf life of the medicine by creating an obstacle for moisture and oxygen.
Key players
Some of the key players in the global strip pack laminates market are Amcor limited, UBM LLC, KAA Timex LR, Green Pack Foils Pvt. Ltd., ETW international etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Also, the companies are launching new products in order to maintain the competitive advantages in air bags packaging market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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Geographically, the global strip pack laminatesmarket has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia pacific is expected to retain its dominance throughout the forecast period owing to the increasing steady growth in pharmaceutical industry.
Moreover, China and India are the lucrative market for strip pack laminates manufacturers in the Asia Pacific. North America is expected to witness a healthy growth in the strip pack laminates market during the forecast period. Europe is also anticipated to register an above average growth in the strip pack laminates market due to the early adoption.
Latin America region is anticipated to witness slow growth as compared to the other regions during the forecast period.
Key players
Some of the key players in the global strip pack laminates market are Amcor limited, UBM LLC, KAA Timex LR, Green Pack Foils Pvt. Ltd., ETW international etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Strip pack laminates: Market Segmentation
The global strip pack laminates market is segmented on the basis of type of the material type, application type
Based on the material type the global strip pack laminates market is segmented into:
- Aluminum
- Polyethylene (PE)
- Polypropylene (PP)
- Surlyn
Based on the application type the global strip pack laminates market is segmented into:
- Medicines
- Oral dissolve strips
- Transdermal & Transmucosal
- Nutraceuticals
- Powders & granules
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