Metalized Flexible Packaging Market worth $16.8 billion by 2028, at a CAGR of 4.5 %, says MarketsandMarkets™
Chicago, Dec. 20, 2023 (GLOBE NEWSWIRE) — The Global Metalized Flexible Packaging Market is projected to grow from USD 13.5 billion in 2023 and is projected to reach 16.8 billion by 2028, at a CAGR of 4.5 %, between 2023 and 2028 period, as per the recent study by MarketsandMarkets™. The metalized flexible packaging market is estimated to be USD 13.5 billion in 2023 and is projected to reach USD 16.8 billion by 2028, at a CAGR of 4.5% between 2023 and 2028. Factors like Increasing global population and improving economic conditions of developing countries and rising demand for customer-friendly packaging are driving the global insulation market during the forecast period.
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List of Key Players in Metalized Flexible Packaging Market:
- Amcor plc (Australia)
- Mondi Plc (UK)
- Sonoco Products Company (US)
- Sealed Air Corporation (US)
- Huhtamaki Oyj (Finland)
- Transcontinental Inc. (Canada)
- Cosmo Films Ltd. (India)
- Polyplex Corporation Ltd. (India)
- Uflex Limited (India)
- Jindal Poly Films Ltd. (India)
Drivers, Opportunities and Challenges in Metalized Flexible Packaging Market
- Drivers: Rising demand for customer-friendly packaging.
- Restraint: Volatile raw material costs
- Opportunity: Sustainable and new metalized flexible packaging solutions
- Challenge: Recyclability of metalized flexible packaging
Key Findings of the Study:
- The aluminum foil segment is estimated to lead the metalized flexible packaging market during the forecast period.
- Pouches are the major packaging type in the global metalized flexible packaging market.
- Food is projected to lead the metalized flexible packaging market.
- Asia Pacific is expected to witness the fastest growth in the metalized flexible packaging market during the forecast period.
The global metalized flexible packaging market is projected to reach an average speed during the forecast period. The demand for metalized flexible packaging in developing countries is likely to be influenced by the need to increase the efficiency of various industrial processes. The market has a potential for growth in regions where the investments are made in various end use industries of metalized flexible packaging. For example, in Asia Pacific, China, India, Japan, and South Korea are high potential markets. In the North America, the US, Canada, and Mexico are the most attractive markets. The rising demand for metalized flexible packaging in personal care, beverage, pharmaceutical, food, and pet food industries for sustainability and changing consumer preferences is driving the market in the area.
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Based on Material Type, aluminum foil-based flexible packaging is a versatile material that merges the flexibility of polymer or paper films with a thin layer of aluminum, offering protection against light, moisture, and oxygen. Widely utilized across industries, it enhances the shelf life and safeguards the contents of the packaging.
Based on Product Type, pouches are small bags consisting of two side flat sheets that are flexible and sealed along the edges to form a compartment, whose volume is dependent on the relative location of the walls. Stand-up pouches (SUPs) and flat or pillow pouches are the two main types of pouches. The two types of stand-up pouches are standard stand-up pouches and retort stand-up pouches. Pouches can be used for bulk coffee packaging and food items such as dried or smoked meat. They are heat-sealable, easy to use, and available in convenient packaging in multiple sizes and formats.
Based on Structure, lamination structure involves combining two or more materials, like aluminum foil and plastic, using adhesive. In food packaging, aluminum foil is often laminated with plastic films through methods such as extrusion, adhesive, or wax/hot melt lamination. These processes enhance barrier properties, making the foil more resilient and less prone to breaking. Laminated structures, particularly in the food industry, contribute to extended product shelf life by reducing antioxidants and preserving freshness.
Based on End-Use Industry, the metalized flexible packaging market is categorized into several segments, including personal care, beverage, pharmaceuticals, food, pet food and others. Among these, the food segment dominates the market share. Metalized flexible packaging supports the food industry by creating a protective shield against moisture, oxygen, and light. This extends product shelf life, safeguards against contamination, and improves the visual appeal of packaged items.
Based on Region, Asia Pacific is the largest market for metalized flexible packaging, followed by North America. In developing countries such as China and India, the demand for metalized flexible packaging is increasing. The increasing industrial activities, investments and labor costs in these countries are the key drivers for metalized flexible packaging market.
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Major companies such as Amcor plc (Australia), Mondi Plc (UK), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki Oyj (Finland), Transcontinental Inc. (Canada), Cosmo Films Ltd. (India), Polyplex Corporation Ltd. (India), Uflex Limited (India), Jindal Poly Films Ltd. (India), and other leading companies in this market.
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