Global Packaging Laminates Market: Overview
Packaging laminates or laminating films are made of different raw materials primarily customized based on role and customer’s needs. These packaging laminates act as a good barrier, which protects drugs, food products, beverages, etc., from harsh environmental conditions. With the increasing efficiency these packaging laminates are extensively used in fast production process mainly for flexible packaging. Also, the good printing capabilities offered by these packaging laminates make the finished product much more appearing much more attractive where the barrier properties ensure extend shelf life of the product. With its wide benefits packaging laminates are broadly used in food & beverage, cosmeceuticals, and pharmaceutical sectors.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Packaging Laminates Market: Growth Factors
The global packaging laminates market is growing at a lucrative rate. Rapidly expanding food & beverage industry is the predominant factor boosting the growth of the global market. In food & beverages industries, packaging laminates are widely used to protect & enhance the shelf life of the products as well as prevent spoiling by forming a superior layer of barriers that inhibit exposure to oxygen. Ready-to-eat snacks, frozen food, and pet food are some of the food products for which packaging laminates are used. In addition to this, growing demand for packaging laminates from cosmetics and pharmaceutical industries is also escalating the global packaging laminates market growth. Further, packaging laminates protects the products from during the process of distribution & storage, protect from outside deteriorating agents such as gas, moisture & light, and are much more resistant to tearing. All such benefits of the packaging laminates have led to rise in adoption of it from various industries. Additionally, growing demand for PE materials for packaging especially for homecare products and increase in demand for aseptic packaging are driving the market growth. Moreover, major players prefer laminate packaging for new brand launches and product portfolio extensions, which is equally contributing to the market growth. However, issues related to disposal and recycling of the packaging laminates may hinder the growth of the global packaging laminates market. On the other hand, growing popularity of printing on packaging laminates and expanding retail sector are likely to offer several growth opportunities for the global packaging laminates market over the forecast period.
The onset of COVID-19 pandemic acted as driving factor for global packaging laminates market as the demand for packaging materials significantly increased in food & beverage sector. Similarly, need for aseptic packaging increased in healthcare and pharmaceutical sector which in turn fueled the demand for packaging laminates during the pandemic period. However, the demand for packaging laminates is expected to remain constant during the forecast period owing to increasing consumer awareness regarding product hygiene.
Global Packaging Laminates Market: Segmentation
The global packaging laminates market is classified based on thickness, material type, application, end-user, and region. Based on the thickness, the global market is split into up to 30 Microns, 30 to 45 Microns, 45 to 60 Microns, and above 60 Microns. Metal, fabric, paper, plastic, and others are the material types used in the packaging laminates market. The application segment includes labels, wraps, cartons, tubes, bags & pouches, and others. Based on the end-user, the market is bifurcated into transportation & logistics, chemical & fertilizers, healthcare, personal care & home care, food & beverages, automotive, and others.
Global Packaging Laminates Market: Regional Analysis
Asia Pacific is likely to remain the largest regional market for packaging laminates during the forecast period. The market in Asia Pacific is primarily growing due to presence of well-developed end-use industries that include pharmaceutical, food & beverage, personal care, cosmetics, etc. Among these food & beverage and pharmaceutical sectors are expected to contribute large market share in APAC over the estimated period. Country wise, packaging laminates market in APAC is largely concentrated in emerging countries such as China and India. The packaging laminates market in Europe is expected to be dominated by food & beverage, personal care, and cosmetics sectors. With the significant barrier properties, the end use industries in the region are keen to adopt packaging laminates to ensure consistent product quality during local transportation and exports. North America is also set to contribute healthy revenue in the global packaging laminates market over the forecast period owing to increasing consumption of ready to eat food and pharmaceutical industries. The US is projected to remain the highest revenue contributor in the North American market over the forecast period.
Global Packaging Laminates Market: Competitive Players
Some of the major players that are operating in the global packaging laminates market are CoverisHoldings S.A, Schur Flexibles Holding GmbH, Amcor Plc., Cosmo Films Ltd., Uflex Ltd., Jindal Poly Firms Limited, ProAmpac LLC, WINPAK LTD, Mondi Group Plc., and Berry Global Group Inc.
Global Packaging Laminates Market: Regional Segment Analysis
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The global packaging laminates market is growing at a lucrative rate. Rapidly expanding food & beverage industry is the predominant factor boosting the growth of the global market. In addition to this, growing demand for packaging laminates from cosmetics and pharmaceutical industries is also escalating the market growth.
Asia Pacific is likely to remain the largest regional market packaging laminates during the forecast period. The market in Asia Pacific is primarily growing due to presence of well-developed end-use industries that include pharmaceutical, food & beverage, personal care, cosmetics, etc. Among these food & beverage and pharmaceutical sectors are expected to contribute large market share in APAC over the estimated period.