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Rise in focus on the agriculture sector with increase in government initiatives and investments in the Rise in demand for food pads that ensure longer shelf life of food products drives the growth of the global air-laid product market.
PORTLAND, Ore. , Aug. 31, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Air-laid Product Market By Product Type (Latex Bonded, Thermal Bonded, Multi Bonded, Hydrogen Bonded), By Application (Personal Hygiene, Food Packaging, Home care, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global air-laid product industry was estimated at $2.1 billion in 2021, and is anticipated to hit $3.9 billion by 2031, registering a CAGR of 6.3% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
Rise in demand for food pads that ensure longer shelf life of food products drives the growth of the global air-laid product market. On the other hand, there are some disadvantages associated with air-laid products such as the strength and durability of air-laid products being poor as compared to other woven cloth, which impedes the growth to some extent. However, increase in purchasing power of consumers and fast-paced lifestyles have boosted the sales of packed food items in both the developed and developing economies, thus creating lucrative opportunities in the industry.
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The latex bonded segment to maintain the lion's share-
By product type, the latex bonded segment contributed to around two-fifths of the global air-laid product market share in 2021, and is expected to lead the trail by 2031. This is attributed to the growing awareness of the usage of a wide range of personal care & hygiene products where latex bonded air-laid products are widely used as wet/dry towels, toilet papers, folded tissues, napkins, and others. The hydrogen bonded segment, however, is expected to exhibit the fastest CAGR of 6.8% from 2022 to 2031. This is due to rise in newborn babies in countries such as India , China , and others and increase in the working population, which has heightened the demand for disposable diapers where thermally bonded air-laid is widely used as the absorbent core.
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The personal hygiene segment to dominate by 2031-
By application, the personal hygiene segment garnered nearly half of the global air-laid product market share in 2021, and is expected to retain its dominance by 2031, due to rising consumer focus on personal wellness and hygiene. The same segment is also expected to exhibit the fastest CAGR of 6.7% from 2022 to 2031. The food packaging, home care, and other application segments are also assessed through the report.
Asia-Pacific garnered the major share in 2021-
Based on region, Asia-Pacific held the major share in 2021, generating around two-fifths of the global air-laid product market. The same region would also cite the fastest CAGR of 7.1% throughout the forecast period. Growing demand for air-laid products in the Asia-Pacific region from the food-packaging industry fuels the market growth. The other regions analyzed in the report take in North America , Europe , and LAMEA.
Key players in the industry-
The report analyzes these key players in the global air-laid product market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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