The strip pack laminates market is set to thrive at a CAGR of 5.0% while projecting a value of USD 256.12 Million. The market holds USD 165.1 Million in 2022.
With the increased creation of new pharmaceuticals and medications, the strip pack laminates industry has the potential for profitable expansion, which is anticipated to necessitate packaging to safeguard it. During the pandemic, there was also a rise in the use of nutritional supplements and other drugs to boost immunity, which supplemented strip pack laminate sales.
The strip pack laminates industry benefits from the constantly expanding e-Commerce vertical. The modern healthcare professional and the individual client expect products and packaging that are both convenient and sustainable. Strip pack laminate producers are spending heavily on thorough research to overcome the issues associated with environmental and sustainable packaging goods.
The strip pack laminates industry's leading players are also attempting to address the issue of recycling or segregating multi-layer flexible packaging, which is made of plastic and a barrier. Thus, increasing efforts by strip pack laminates companies would respond to the demand for sustainable packaging, boosting strip pack laminates market growth.
Pharmaceutical packaging producers face several unforeseen obstacles as a result of the new biological prescription treatments. Due to their molecular compositions and interactions with packaging material, the new prescription treatments necessitate alternative packaging. This creates a demand for strip-pack laminates that are appropriate for the new biological prescription treatments.
To attract more clients, strip pack laminates market players are focused on providing value-added services. Spray painting, UV coating, and metallization are the most popular procedures used by strip pack laminate makers to color-packing containers.
Furthermore, strip pack laminate producers frequently label and include different anti-counterfeit packaging techniques, including overt and covert technology such as barcodes, holograms, sealing tapes, and radio frequency identifying devices.
| Attributes | Details |
|---|---|
| Strip Pack Laminates Market Size (2022E) | US$ 165.1 Million |
| Strip Pack Laminates Market Projected Size (2032F) | US$ 256.12 Million |
| Value CAGR (2022 to 2032) | 5.0% |
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Strip pack laminates are one of the popular packaging solution among the pharmaceutical companies. Some of the important characteristics associated with strip pack laminates that makes it a preferred choice among pharmaceutical companies are as follows: these strips reduces the spillage, are easy to open and hence provides convenience, provides anti-counterfeiting features, improves brand recognition.
Further, light weight of the strip pack laminates is also expected to be one factor for increasing acceptance of the product. Moreover, strip pack laminates increases the shelf life of the medicine by creating an obstacle for moisture and oxygen.
The global strip pack laminates market is expected to grow at a healthy rate over the forecast period. The strip pack laminates market is primarily driven by the increasing growth in the pharmaceutical industry as the strip packs laminates are widely used in the pharmaceutical packaging especially for pills, tablets and capsules.
Strip pack laminates are gaining traction among the pharmaceutical packaging manufactures owing to the anti-counterfeit property. The other benefits associated with strip pack laminates also accelerates the demand in the strip pack laminates market.
Some of the advantages are as follows: these laminates are cost effective and are provide an affordable packaging solution as well, these are also available in pre-made bags or pouches, can be tailored to meet specific barrier, available in customized barrier levels (UV, Water, gas etc.) and also allows high quality print and large surface design.
Furthermore, Strip pack laminates are available with customized solutions for different brand owners. Various pharmaceutical manufacturing companies are using this as a packaging solution to enhance the brand visibility. This product is available in the market in different designs and shapes to cater the specific requirements of the consumer.
In addition, rising demand of light weight pharmaceutical packaging also acts as one of the factors that is positively boosting the demand in the strip pack laminates market.
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Geographically, the global strip pack laminatesmarket has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia pacific is expected to retain its dominance throughout the forecast period owing to the increasing steady growth in pharmaceutical industry.
Moreover, China and India are the lucrative market for strip pack laminates manufacturers in the Asia Pacific. North America is expected to witness a healthy growth in the strip pack laminates market during the forecast period. Europe is also anticipated to register an above average growth in the strip pack laminates market due to the early adoption.
Latin America region is anticipated to witness slow growth as compared to the other regions during the forecast period.
Some of the key players in the global strip pack laminates market are Amcor limited, UBM LLC, KAA Timex LR, Green Pack Foils Pvt. Ltd., ETW international etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Also, the companies are launching new products in order to maintain the competitive advantages in air bags packaging market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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Geographically, the global strip pack laminatesmarket has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia pacific is expected to retain its dominance throughout the forecast period owing to the increasing steady growth in pharmaceutical industry.
Moreover, China and India are the lucrative market for strip pack laminates manufacturers in the Asia Pacific. North America is expected to witness a healthy growth in the strip pack laminates market during the forecast period. Europe is also anticipated to register an above average growth in the strip pack laminates market due to the early adoption.
Latin America region is anticipated to witness slow growth as compared to the other regions during the forecast period.
Some of the key players in the global strip pack laminates market are Amcor limited, UBM LLC, KAA Timex LR, Green Pack Foils Pvt. Ltd., ETW international etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Also, the companies are launching new products in order to maintain the competitive advantages in air bags packaging market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments.
The report also maps the qualitative impact of various market factors on market segments and various geographies.
The global strip pack laminates market is segmented on the basis of type of the material type, application type
Based on the material type the global strip pack laminates market is segmented into:
Based on the application type the global strip pack laminates market is segmented into:
The market is likely to register a CAGR of 5.0% through 2032.
The market is currently valued at US$ 165.1 Mn in 2022.
The market is likely to grow to a valuation of US$ 256.12 Mn by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
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Strip Pack Laminates Market
