Global Packaging Laminates Market to Reach US$ 10.4 Billion by 2033: Insights from Industry Research

The global packaging laminates market is poised for substantial growth, with projections indicating a rise from US$ 6,274.7 million in 2022 to US$ 10,410.2 million by 2033. According to comprehensive research findings, the market is expected to witness a significant CAGR of 5.1% during the forecast period.

Driving Factors for Packaging Laminates Market Growth

1. Information Transparency and Clean-Label Preferences: Consumer preferences are shifting towards clean-label and smart laminates, reflecting a growing demand for information transparency.
2. Diverse Industry Applications: Packaging laminates find extensive usage across various industries including food and beverage, healthcare, pharmaceuticals, cosmetics, and personal care. Advances in lamination technology and product innovations have contributed to market success.
3. Customized Packaging Solutions: Brands are increasingly focusing on personalized packaging solutions to enhance recall value and connect with consumers on a deeper level.

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Impact of Nuclear Families on Market Dynamics

The rise of nuclear families has significantly influenced the packaging laminates market. With more households relying on packaged and stored food for convenience, the demand for packaging laminates has increased both industrially and residentially.

Online Shopping and Laminated Paperboard Packaging

The expansion of online shopping and e-commerce platforms has spurred the need for laminated paperboard packaging solutions. Manufacturers are prioritizing consumer convenience and product appeal through technical advancements in packaging.

Challenges in Recycling and Disposal

Despite market growth, the environmental impact of polymers poses a significant challenge. Multilayer packaging laminates, while offering precise and secure packing, present difficulties in recycling and disposal. The intensive recycling process and associated costs inhibit the sustainable management of laminated packaging solutions.

Industry Growth Drivers: 

1. Information Transparency and Clean-Label Demands: The growing consumer preference for information transparency and clean-label products is a significant driver, leading to the increased popularity of smart and clean-label laminates in the packaging industry.
2. Diverse Applications Across Industries: The versatility of packaging laminates extends across various sectors, including food and beverage, healthcare, pharmaceuticals, cosmetics, and personal care, driving demand from a wide range of industries.
3. Advancements in Lamination Technology: Significant advancements in lamination technology contribute to the success of the packaging laminates market. Continuous innovation enhances the functionality, durability, and appeal of laminated packaging solutions.
4. Customization and Brand Recall: Brands’ emphasis on increasing recall value prompts a greater focus on customized packaging solutions. Packaging laminates play a crucial role in helping brands create a unique and recognizable identity for their products.
5. Digital Printing Integration: The integration of digital printing technology is a notable advancement in packaging laminates. This technological enhancement enables companies to efficiently package and personalize their products, aligning with the trend of customization in the market.
6. E-commerce Industry Growth: The burgeoning e-commerce industry is a significant growth driver for the packaging laminates market. With increased internet access and the proliferation of smart devices, the e-commerce sector is poised to double in the next few years, creating a surge in demand for effective and durable packaging solutions.

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Key Takeaways from the Market Study

• In terms of material type, the metallized polypropylene (PP) films are anticipated to attain more than 35% of the revenue share, recording an optimistic 5.1% value CAGR throughout the assessment period due to their high flexibility and durability.
• Based on thickness, the 30-45 microns category is likely to command market share reaching US$ 4.0 Bn by 2030, as it is the ideal size utilized for packaging several items, chiefly perishable foodstuffs.
• Based on application, aseptic packaging is the key beneficiary of the global market, recording a 4.9% CAGR across the assessment period. Consumer preferences for instant food and high-quality meals, as well as the expansion of the dairy beverage industry, are driving sales of aseptic packaging.
• According to FMI, the United States is expected to dominate the North American packaging laminates industry with a market share of 81.7% during the assessment period, owing to rising packaged food consumption, the expansion of the medical device packaging industry, and the presence of key market players.
• India is anticipated to develop into a very lucrative market for packaging laminates over the forecast period due to the rising popularity of packaging laminates in packaging applications and the expansion of end-use verticals. According to emerging trends, India is likely to command Asia Pacific, which currently accounts for 49.2% of global income, in 2022.

Key Trends

• Packaging laminates printing to enhance brand image and their brand value to meet consumers’ customized requirements are likely to gain momentum during the forecast period.
• The surge in demand for immunity-boosting foods, hygiene products, and healthcare consumables have augmented the requirement for packaging laminates.
• Growing adoption of flexible packaging solutions complementing market growth as it enhances the product’s shelf-life and convenient user experience.
• Expansion of modern retail format allowing to accommodate ready-to-eat packaged foods, pharmaceutical, and cosmetics products, thus boosting demand for packaging laminates

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Market Segmentation

Material Type

• Aluminium Foil
• Paper & Paperboard
• Metallized PP
• Metallized BOPP
• Metallized OPP
• Metallized CPP
• Metallized PET
• Metallized PA
• Metallized PE
• Metallized PVC
• Others (PVC, EVOH, etc.)

Thickness

• Up to 30 Microns
• 30-45 Microns
• 45-60 Microns
• Above 60 Microns

Application

• Aseptic Packaging
• Non-aseptic Packaging

End-Use Industry

• Food
• Salty Snacks
• Confectionary
• Tea & Coffee
• Ready-to-eat Foods
• Meat, Poultry & Seafood
• Fruits & Vegetables
• Others
• Pharmaceuticals
• Cosmetics & Personal Care
• Others

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.

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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