The global market for multilayer flexible packaging is on the rise, with experts predicting steady growth in the coming years. This type of packaging, which is made up of multiple layers of materials such as plastic, aluminum, and paper, offers several advantages over traditional packaging options.
Between 2022 and 2029, the global multilayer flexible packaging industry is predicted to break out of the rigid zone, reaching US$ 210 billion. The predicted CAGR is 3.5%.
One of the key drivers of this market is the increasing demand for convenient and easy-to-use packaging. Multilayer flexible packaging is lightweight, durable, and easy to transport, making it ideal for a wide range of products, from food and beverages to personal care items and household goods. Additionally, these packaging materials can be designed to be resealable, allowing consumers to use the product multiple times before disposing it.
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Another major factor contributing to the growth of the multilayer flexible packaging market is the rise in e-commerce sales. As more consumers turn to online retailers for their shopping needs, the demand for durable, tamper-proof packaging that can withstand the rigors of shipping and handling is increasing. Multilayer flexible packaging is well-suited to meet this demand, as it can provide the necessary protection for products during transit while still being lightweight and easy to handle.
In addition to these drivers, the market is also being boosted by advances in technology. The development of new materials and manufacturing techniques is making it possible to produce multilayer flexible packaging that is even more durable and effective at preserving the quality and freshness of products. This, in turn, is helping to attract new customers and increase sales for manufacturers.
Despite the growth in this market, there are also some challenges that manufacturers must contend with. One of the biggest challenges is the high cost of raw materials. The use of multiple layers of different materials can drive up the cost of production, making it more difficult for manufacturers to compete on price. Additionally, some consumers are becoming more environmentally conscious and are looking for more sustainable packaging options. This is a growing trend that manufacturers will need to take into account to stay competitive in the market.
Overall, the multilayer flexible packaging market is expected to continue growing in the coming years, driven by increasing demand for convenient and easy-to-use packaging, the rise in e-commerce sales, and advances in technology. Manufacturers will need to stay attuned to the changing preferences of consumers and adapt to new technologies in order to remain competitive in this market.
This report provides detailed analysis of the market, including market size, market share, revenue, and growth rate of the market, by various segmentation. The report also includes the competitive landscape of the key players operating in the market, along with their business strategies and recent developments. The report also provides detailed analysis of the market, including market size, market share, revenue, and growth ate of the market, by various segmentation.
The report also provides detailed analysis of the market, including market size, market share, revenue, and growth rate of the market, by various segmentation. It also includes the competitive landscape of the key players operating in the market, along with their business strategies and recent developments. The report also provides detailed analysis of the market, including market size, market share, revenue, and growth rate of the market, by various segmentation.
“Shift from rigid packaging to flexible packaging is the leading trend in the global packaging industry. Changing packaging needs enable brand owners to enjoy high profitability margins, owing to reduction in transportation cost and cheaper package cost.”
Key Takeaways of Multilayer Flexible Packaging Market Study
- In terms of value, the pouches & sachets segment is expected to account for maximum market share in the global multilayer flexible packaging market during 2019-2029, attributable to the rising demand for small-sized sachets & pouches for the packaging of a variety of food products.
- By layer structure, the 5 layer segment is anticipated to grow 1.2X by the end of 2023.
- The plastic material segment is expected to create total incremental revenue opportunity of US$ 96 Bn by the end of 2029, owing to ease of availability and cost-effectiveness.
- North America is anticipated to maintain its dominance in the global multilayer flexible packaging market during the forecast period. This growth can be attributed to the presence of well-established market players in the region. East Asia and South Asia are anticipated to be highly lucrative markets, on the back of significant consumption and production of multilayer flexible packaging solutions at cost-effective rates.
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Multilayer Flexible Packaging Market Landscape
The global multilayer flexible packaging market is identified as a highly competitive and fragmented market. Unorganized and local players can leverage significant growth opportunities in the global multilayer flexible packaging market. Some of the key players operating in the multilayer flexible packaging market are Sealed Air Corp., Mondi Group Plc, Berry Global Group, Inc., Scientex Berhad, and Uflex Ltd., among others. Key players are focusing on acquisitions and product innovation with the aim of expanding their footprint and customer base across the globe.
- In November 2019, Constantia developed its first plant Constantia Ecoflex at Ahmedabad, India, for producing sustainable and recyclable flexible packaging.
- In February 2019, Amcor Limited introduced Genesis, a polyethylene laminate with the look and feel of traditionally-oriented polyethylene or oriented polyester. This product is suitable for use in medical, food, homecare, personal care, and other industries. The company acquired Bemis Company Inc., which is one of the leading manufacturers of multilayer flexible packaging.
- In June 2019, Sealed Air Corp. acquired MGM’s flexible packaging business. MGM is a privately-held company that is headquartered in Manila, the Philippines. This acquisition will allow the company to expand its food packaging operations in Asia.
Key Segments Covered in Multilayer Flexible Packaging Industry Research
Multilayer Flexible Packaging Market by Product
- Bags
- Pouches & Sachets
- Wrapping Films
- Laminates
- Others (Liners, Stick Packs, etc.)
Multilayer Flexible Packaging Market by Material
- Plastic
- Polypropylene (PP)
- BOPP
- CPP
- OPP
- Polyethylene (PE)
- LDPE
- LLDPE
- HDPE
- Polyethylene Terephthalate
- Polyvinylidene Chloride (PVDC)
- Ethylene Vinyl Alcohol (EVOH)
- Ethylene Vinyl Acetate (EVA)
- Polyvinyl Chloride (PVC)
- Polyamide (PA)
- Polyethylene (PE)
- Paper
- Aluminium Foil
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Multilayer Flexible Packaging Market by Layer Structure
- 3 Layers
- 5 Layers
- 7 Layers
- More than 7 Layers
Multilayer Flexible Packaging Market by End-use
- Food
- Meat, Poultry, and Seafood
- Bakery & Confectionery
- Snacks
- Dairy
- Pet Food
- Baby Food
- Other Food Products
- Beverages
- Pharmaceuticals
- Automotive
- Cosmetics and Personal Care
- Homecare
- Electricals & Electronics
- Agriculture & Allied Industries
- Textiles & Apparels
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