Canada Multilayer Flexible Packaging Market Growth & Trends
The Canada multilayer flexible packaging market size is expected to reach USD 3.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 4.5% from 2022 to 2030. Growing demand for packed food and its packaging coupled with demand for sustainable packaging products is attributed to be the key driver for the multilayer flexible packaging market in Canada.
The production of multilayer flexible packaging includes several processes such as coextrusion and lamination. The lamination process further includes different lamination types including extrusion lamination, adhesive, and lamination. The co-extrusion process is used to produce extrusion coating and laminating, tubing and sheathing, cast sheet, and cast film. Wherein, the lamination process is used to combine different materials.
Packaged food products have been dominant in the food supply chain in Canada. The changing lifestyle of the masses, rising disposable income of the population, and shrinking family sizes drive the demand for packaged food products in the country. Multiple layers of materials such as plastic films, aluminum, and/or paper act as a barrier to protect packaged food products against vapor and oxygen and help retain their nutritional value. Therefore, is it predominantly used in packaging food products such as cheese, cream, yogurt, chocolates, pet food, processed meat, and cereals.
Furthermore, the owing to the recycling challenges of multilayer packaging products due to inadequate recycling infrastructure has been resulting in the emergence of new recyclable packaging materials that make the packaging products sustainable. The government has been funding several projects aimed at producing bioplastics for usage in various end-use industries such as food & beverages, medical, and consumer goods. This is expected to support the growth of multilayer packaging.
The industry players are adopting several strategies including mergers & acquisitions, joint ventures, and production capacity expansions to increase the market share and presence in the country. For instance, In June 2022, ePac Holdings, LLC, a flexible multilayer packaging manufacturer, announced adding third manufacturing and sales location in Quebec, Canada. The company already has operations in Toronto and Vancouver. Through this expansion, the company expects to serve the Consumer-Packaged Goods (CPG) brands in Quebec province.
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Canada Multilayer Flexible Packaging Market Report Highlights
- Plastics as material dominated with a revenue share of 49.5% in 2021. The abundant availability of virgin wood and wastepaper at a lower cost is responsible for the highest share of the segment in 2021
- The laminates product type is expected to grow at a rapid CAGR of 5.0% during the forecast period, owing to the high functionality and barrier against the permeability of oxygen, moisture, gases, and steam
- 3-layer structures are popularly used films in multilayer flexible packaging products. this layer structure type held a revenue share of 40.38% in 2021. This layer structure provides ideal seal strength, high barrier protection, and high-temperature processes
- The food & beverage end-use segment held the largest revenue share in 2021 and is anticipated to register growth at a reasonable CAGR of 4.8% during the forecast period. Food products such as powdered drinks, savory snacks, baby food, dry fruits & nuts, fruits, meat, seafood, and fruits and vegetables are prominently packed in multilayer flexible packaging products
- Capacity expansions coupled with mergers & acquisitions are some of the strategies adopted by players. In February 2022, ProAmpac, a North American global flexible packaging company, acquired a Canada-based flexible packaging product manufacturer, Belle-Pak, to expand its presence in Canada and extend its reach in the healthcare, e-commerce, and logistics sectors
Access Press Release@ https://www.grandviewresearch.com/press-release/canada-multilayer-flexible-packaging-market-analysis
Canada Multilayer Flexible Packaging Market Segmentation
Grand View Research has segmented the Canada multilayer flexible packaging market based on material, product, layer structure, and end-use:
Canada Multilayer Flexible Packaging Material Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
- Plastics
- Paper
- Aluminum Foil
Canada Multilayer Flexible Packaging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
- Bags
- Pouches and Sachets
- Wrapping Films
- Laminates
- Others
Canada Multilayer Flexible Packaging Layer Structure Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
- 3 Layers
- 5 Layers
- 7 Layers
- More than 7 Layers
Canada Multilayer Flexible Packaging End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
- Food & Beverages
- Pharmaceuticals
- Automotive
- Cosmetics and Personal Care
- Homecare
- Electricals & Electronics
- Agriculture & Allied Industries
- Textiles & Apparels
List of Key Players in the Canada Multilayer Flexible Packaging Market
- Amcor plc
- Glenroy Inc.
- Berry Global Inc.
- Mondi Group
- Transcontinental, Inc.
- Sonoco Products Company
- WINPAK LTD.
- Sealed Air
- WestRock Company
- Huhtamaki Flexible Packaging
- UFlex Limited
- Constantia Flexibles
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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