Cost-effectiveness, durability, and lightweight are just a few of the benefits driving global demand for multilayer flexible packaging. This market report covers a wide range of flexible packaging options, including bags, pouches, sachets, wrapping films, laminates, and more (liners, stick packs, and more). When compared to rigid packaging, the manufacturing of multilayer flexible packaging goods uses 70% less material. Aluminum foil and metalized plastic sheets are also gaining popularity in the production of flexible packaging bags and pouches.
Over the projection period, the global multilayer flexible packaging market is expected to grow at a CAGR of roughly 4%, reaching a valuation of nearly US$ 350 billion by 2029.
“In the worldwide packaging sector, the shift from rigid to flexible packaging is the dominant trend. Due to lower transportation costs and lower package costs, brand owners can enjoy large profit margins as their packaging needs change.”
The Market for Multilayer Flexible Packaging: Key Takeaways
- Due to increased demand for small-sized sachets & pouches for the packaging of a variety of food goods, the pouches & sachets segment is estimated to account for the largest market share in the global multilayer flexible packaging market in terms of value during 2019-2029.
- The 5-layer segment is expected to grow 1.2X by the end of 2023, according to layer structure.
- Due to its ease of availability and cost-effectiveness, the plastic material market is predicted to provide a total incremental revenue opportunity of US$ 96 billion by the end of 2029.
- During the projected period, North America is expected to maintain its dominance in the worldwide multilayer flexible packaging market.
Multilayer Flexible Packaging Market Landscape
The global multilayer flexible packaging market is described as a fragmented and competitive market. In the worldwide multilayer flexible packaging market, unorganized and local businesses can capitalize on enormous growth prospects. Sealed Air Corp., Mondi Group Plc, Berry Global Group, Inc., Scientex Berhad, and Uflex Ltd. are among the prominent participants in the multilayer flexible packaging industry. To increase their reach and consumer base across the globe, key players are focusing on acquisitions and product innovation.
- Constantia opened its first plant, Constantia Ecoflex, in Ahmedabad, India, in November 2019 to produce sustainable and recyclable flexible packaging.
- Genesis, a polyethylene laminate having the look and feel of traditionally oriented polyethylene or oriented polyester, was introduced by Amcor Limited in February 2019. This product can be used in a variety of industries, including medical, food, homecare, personal care, and others. Bemis Firm Inc., a leading multilayer flexible packaging producer, was bought by the company.