Valley Cottage, NY -- (SBWIRE) -- 11/24/2017 -- Eight out of 10 layer pads sold are used in the beverages end user industry
The coming years will witness increasing demand for layer pads across various end user industries, which will demand more customised layer pads packaging solutions to meet diverse packaging needs. Among the different end user industries, beverages packaging will be the largest consumer of layer pads throughout the forecast period 2017 – 2027 and will monopolise the global layer pads market.
The beverages segment is estimated to hold a whopping 80% value share of the global layer pads market during the forecast period, leaving the other end user base segments way behind in terms of both demand for and consumption of layer pads. In fact, according to Future Market Insights analysis, the other end user base segments such as food & agro products, electronics, chemical, and manufacturing are likely to hold a single digit value share in the global layer pads market throughout the period of assessment.
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Volume and value analysis of the beverages end user base segment
In terms of volume consumption, the Beverages segment is pegged at 486,786 tonnes by the end of 2017 and this is projected to increase to 830,520 tonnes by the end of 2027, witnessing a CAGR of 5.5%. In terms of revenue, the Beverages segment is estimated to be valued at more than US$ 700 Mn by the end of 2017 and this is expected to increase to a little under US$ 1.4 Bn by the end of the forecast period in 2027. This reflects a CAGR of 6.1% in terms of value recorded during the 10 year assessment period.
Beverages is the largest end user base segment in the global layer pads market, both in terms of value and volume. Food & Agro Products is the second largest segment by end user, estimated to be valued at US$ 125.1 Mn by the end of the forecast period with a CAGR of 6.3%.
In terms of volume consumption, the Food & Agro Products segment is estimated to be pegged at 44,200 tonnes in 2017 and this is expected to increase to 77,408 tonnes by the end of 2027, with a CAGR of 5.8%. The Beverages segment is anticipated to create an incremental opportunity of US$ 631.5 Mn during the forecast period; while the Food & Agro Products segment will create an incremental opportunity of US$ 60.5 Mn during the forecast period.
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Performance of the Beverages end user segment across some of the assessed regional markets
In the North America layer pads market, the Beverages end user segment is likely to remain dominant with a market valuation of more than US$ 200 Mn estimated by the end of the forecast period in 2027. The Beverages segment will lead the end user category in the APEJ layer pads market, with a projected market valuation of more than US$ 450 Mn by the end of 2027.
Beverages is the most attractive end user segment in the Western Europe layer pads market with an anticipated market share of 84.4% in terms of revenue in 2017. A high consumption of beverages in Western Europe is likely to fuel the growth of the layer pads market in the region. Western Europe accounts for over 30% of the global alcoholic beverage market and over 18% of the global non-alcoholic beverage market.
Given this high consumption, Western Europe is expected to be the second largest contributor to the global layer pads market. However, despite the large volume share in the global layer pads market, the demand for layer pads is moving at a slower pace due to slow growth of the manufacturing sector in the Western Europe region.