Cost-effectiveness, durability, and lightweight are several advantages responsible for boosting the demand for multilayer flexible packaging, worldwide. The scope of this market study includes multiple flexible packaging solutions such as bags, pouches & sachets, wrapping films, laminates, and others (liners, stick packs, and more). Manufacturing of multilayer flexible packaging products requires 70% less material when compared to rigid packaging products. Aluminum foil and metalized plastic films are also gaining significant traction for the manufacturing of bags and pouches for flexible packaging.
The global multilayer flexible packaging market is set to progress at a CAGR of around 4% over the period of forecast, and reach a valuation of nearly US$ 350 Bn by 2029.
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“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
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.
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Key Segments Covered in Multilayer Flexible Packaging Industry Research
Multilayer Flexible Packaging Market by Product
Multilayer Flexible Packaging Market by Material
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Multilayer Flexible Packaging Market by Layer Structure
Multilayer Flexible Packaging Market by End-use
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