Flexible
Packaging
Market
has been driving the packaging industry to astonishing heights.
Development across consumer and industrial market that use flexible
films, improvements in manufacturing practices, and continued
technological innovations, the packaging market has been able to grow
and evolve, accordingly the packaging trend has shaped. As a result
of the various beneficial features that it comes with, right from
ease of handling, storage and convenience to being economic in terms
of cost savings, flexible packaging has certainly paved a strong
position in the packaging world, and thus is certainly a key segment
driving growth of the overall packaging market.
The factors driving
the flexible packaging market are the rise in demand and adoption of
the packaging type across end-use sectors such as food and beverages
and Fast Moving Consumer Goods (FMCG). Ease of packaging has made
flexible packaging a perfect alternative for display and branding of
retail goods, in turn driving growth of the global flexible packaging
market. Backed by investments in technology and industry equipment,
the industry is expected to expand at a high growth rate in the
coming years.
The flexible
packaging market is dynamic with constant new product development as
well as launch, increased competition, and different agreements
between various consumer goods manufacturers, packaging
manufacturers, traders, distributors, and raw material suppliers. In
the face of the increasing competition, the flexible packaging
manufacturers are expected to differentiate themselves from other
companies by focusing on newer packaging designs, materials, and
formats.
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There is an
increasing shift in preference from bulk purchases to small consumer
packs and focus on higher levels of processing and quality amongst
the urban customers, which is acting as the key driver for the
increasing consumption of packaging materials in developing nations
such as India. Surge in disposable income in rural areas and rising
prices has also led to the increasing shift towards smaller pack
sizes in the flexible packaging market. As such, the growth of
smaller packaging formats, such as sachets for personal care,
continues. Meanwhile, the growth in demand for flexible packaging in
the foods industry is expected to be driven by rise in demand for
packaged foods such as biscuits and snacks in rural areas.
The global flexible
packaging market is segmented based on end user, packaging types,
printing processes, material, and geography. By end user type, the
global flexible packaging market is segmented into consumer products,
industrial, medical & pharmaceuticals, retail food, retail
non-food, institutional food, institutional non-food, and others. By
packaging type, the global flexible packaging market is segmented
into stand-up pouches, flat pouches, converted roll-stock, gusseted
bags, wicket bags, and others. By material type, the global flexible
packaging market is categorized into Polypropylene (PP), Polyethylene
(PE), Polyethylene Terephthalate (PET), Poly Vinyl Chloride (PVC),
Ethylene Vinyl Alcohol (EVOH), Polyamide (PA), and others (paper,
aluminum, and cellulosic)
By geography, the
global flexible packaging market is segmented into North America,
Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Currently, North America dominates the global flexible packaging
market in terms of revenue share. However, Asia Pacific is expected
to expand at the fastest growth rate in the global flexible packaging
market owing to the rising disposable income, and rising demand, and
changing packaging trends in the end user sectors, which are expected
have a positive impact on the global flexible packaging market.
Currently, rising population and the significant demand for
beverages, packaged foods, pharmaceuticals, and personal care
products are driving growth of the flexible packaging market in
countries such as India and China, whereas the North American
flexible packaging market is expected witness moderate growth in the
coming years, due to the highly saturated end-use market globally.
Some of the Key
Players in the global flexible
packaging market are American Packaging, Amcor Ltd., Sealed Air
Corporation, Bemis Company Inc., Mondi, Huhtamaki Oyj, Sonoco
Products, and Uflex.
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