Packaging Laminates Market Sees Robust Growth: USD 6,336.3 Million in 2024 to USD 9,694.9 Million by 2034 | FMI

The global packaging laminates market is set for significant growth, with sales expected to rise from USD 6,336.3 million in 2024 to an impressive USD 9,694.9 million by 2034, reflecting a compound annual growth rate (CAGR) of 4.3% over the forecast period. This follows a strong market performance in 2023 when packaging laminate revenue reached USD 6,118.4 million.

In 2024, the market is projected to exhibit a year-on-year growth of 3.6%, driven largely by increasing demand across multiple industries, particularly food and beverages. The food and beverage sector is anticipated to create a substantial incremental revenue opportunity of USD 1,199 million between 2024 and 2034, further bolstering the market's expansion.

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Plastic laminates are projected to dominate the packaging laminates market in 2024, holding a remarkable 3/4th value share. This underscores the growing reliance on plastic-based packaging solutions across industries. Meanwhile, aluminum foil is expected to register a healthy 4.6% CAGR during the assessment period, showcasing the material's increasing popularity in flexible packaging solutions.

Flexible laminate rolls and pouches within the 30 to 45-micron thickness range are set to capture 1/4th of the market share in terms of value. These laminates are expected to expand 1.4 times their current value over the evaluation period, reflecting the growing preference for lightweight, flexible packaging formats.

The packaging laminates market is projected to witness substantial growth opportunities over the next decade. From 2024 to 2034, the market is expected to generate an incremental growth opportunity of USD 1,341 million and expand by 1.5 times its current market value. The food and beverage sector will remain a key driver of this growth, with increasing demand for durable, protective, and flexible packaging solutions.

Key Takeaways from Market Study

• The global packaging laminate market experienced a Compound Annual Growth Rate (CAGR) of 1.7% during the historical period.
• Food industry holds a significant share in the demand for packaging laminates.
• Canada is expected to generate USD 75.3 million in revenue and account for 22.5% market share by 2034.
• The United Kingdom's pharmaceutical industry has a turnover of USD 44.5 billion, supporting demand for specialized packaging laminates.
• India, South Africa, and China are projected to exhibit high CAGRs of 7.2%, 5.5%, and 5.0% respectively through 2034.
• The pouch segment of packaging is expected to grow at a CAGR of 3.8% through 2034, driven by convenience and sustainability trends.
• By material, the plastic segment is set to witness a strong growth rate with a 4.3% CAGR from 2024 to 2034.

Competitive Landscape

Leading players in the market are developing and launching new products to woo more clients. They are integrating with different firms and expanding their geographical presence.
They are also collaborating and partnering with brands & stakeholders for new product development.

Recent activities and developments implemented by leading players in the market are:

• In January 2024, UFlex, a Noida-based flexible packaging company, launched its latest cold-form laminate with holographic effects for the pharmaceutical industry at the CPHI-PMEC India exhibition.
• In November 2023, TIPA introduced its new home compostable laminate in the United States. The product can be used for snacks, bread, and spices packaging, as well as dry food packaging. It is also ideal for packaged protein, fruits, and granola.
• In August 2023, Amcor introduced AmFiber™ Performance Paper packaging in North America. The company aims to expand its AmFiber portfolio with this launch.

Key Players in the Packaging Laminate Market

• Amcor Plc
• Berry Global Inc.
• Mondi Plc
• Pro Ampac LLC
• Constantia Flexibles Group
• Coveris Packaging
• Andpak Inc.
• Montebello Packaging Inc.
• Elitefill Inc.
• Kimac Industries
• C-P Flexible Packaging

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Global Packaging Laminate Market Outlook by Category

By Material:

• Aluminum Foil
• Paper & Paperboard
• Plastic

By Thickness:

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

By Packaging Format:

• Films
• Pouches
• Tubes

By End-use:

• Food & Beverages
• Healthcare & Pharmaceuticals
• Beauty & Personal Care
• Homecare & Hygiene
• Others (Personal Protective Equipment & Pet Care)

By Region:

• North America
• Latin America
• East Asia
• South Asia & Pacific
• Western Europe
• Eastern Europe
• Middle East & Africa

Have a Look at Another Post on the Packaging Domain:

Metalized Barrier Film Market - https://www.fmiblog.com/2024/10/03/global-metalized-barrier-film-market-to-be-worth-usd-2-9-billion-by-2034-future-market-insights-inc/

Stretch Hood Film Market - https://www.fmiblog.com/2024/10/04/stretch-hood-film-market-is-expected-to-progress-at-a-cagr-of-2-7-from-2024-to-2034-fmi/

Plastic Rigid IBC Market - https://www.fmiblog.com/2024/10/04/global-plastic-rigid-ibc-market-to-be-worth-usd-9-5-billion-by-2033-future-market-insights-inc/

Frozen Food Packaging Market - https://www.fmiblog.com/2024/10/04/frozen-food-packaging-market-to-reach-usd-2-0-billion-globally-by-2033-at-8-3-cagr-future-market-insights-inc/

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