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.
Strip pack laminates: Market Dynamics
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.
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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.
Strip pack laminates Market: Regional outlook
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.
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Strip pack laminates Market: Key players
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.