The use of composite materials, like glass- and carbon- fiber reinforced polymers, is expected to increase exponentially in the coming years. Consequently, in order to monitor the structural health of these materials, the development of new sensing devices is rapidly accelerating. For this purpose, our research groups have recently developed new ultra-thin polymer waveguide sensors which can be exploited to measure both uni- and multi-axial strains occurring in composite components. These sensing foils are manufactured by creating Bragg gratings in waveguides realized in flat polymeric substrates, which makes their placement and alignment easier compared to traditional fiber optic sensors. Moreover, using a non-straight waveguide it is possible to spatially multiplex the sensing gratings in such a way that an optical strain rosette can be created. This paper investigates the suitability of the proposed polymer waveguide sensors for the estimation of the modal parameters of composite components.