The Flexible Packaging Market Is Predicted To Reach USD 131.86 Billion With A CAGR Of 5.30 % According To Market Data Forecast Report.

The Flexible Packaging Market Is Predicted To Reach USD 131.86 Billion With A CAGR Of 5.30 % According To Market Data Forecast Report.

ID: 6585 | February 2018 | Region: Global


The Flexible Packaging Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Flexible Packaging Market is estimated to be USD 102.34 billion in 2017 and predicted to rise to USD 131.86 billion by 2022 with a CAGR of 5.30 %. The market is segmented by Type (Stand-Up Pouches, Flat Pouches, Gusseted Bags, Wicketed Bags, Wraps, Rollstock), Material (Plastic Films, Paper, Aluminum Foil, Bioplastics), Printing Technology (Flexography, Rotogravure, Digital Printing, Other Printing Technologies), and Application (Food and Beverages, Healthcare, Cosmetics & Toiletries, Other Applications). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

Increase in demand from healthcare, food & beverages, household products, cosmetics and toiletries, sporting goods and other agricultural products industries will drive the flexible packaging market growth. Due to lightweight characteristic and ease of use, logistics companies are shifting to flexible packaging materials consequently boosting the market growth. Manufacturers are moving towards flexible packaging as it creates less waste because of the lower utilization of crude materials, requires less storage room along with easy transport. Technological advancement, improving barrier properties, developing thin elastic material coupled with innovations in high-speed filling equipment will further drive the market growth. Easy transportation and storage along with sustainable properties fueled the product demand. Export trading industry expansion is key factors enhancing the overall industry growth. However, strict government regulations regarding polymer and recyclability of packaging material may hinder the flexible packaging market growth. Increasing aluminum and polymer prices due to political unrest may impact the flexible packaging market price trend.

On the basis of Type, it is segmented into Stand-Up Pouches, Flat Pouches, Gusseted Bags, Wicketed Bags, Wraps, and Rollstock. Stand up pouches and pillow pouches are the most widely used flexible packaging products. Pillow pouches will witness high gains because of their increasing usage in food & beverages and dairy industry. Low cost, high sealing ability, and cost-efficient transportation are some of the key properties responsible for the growth of the market. High barrier properties against moisture and oxygen coupled with low material usage and cost-effective properties will fuel the stand-up pouches demand. Thermally processed foods are packed with these products to extend the shelf life. Other flexible packaging products include retort pouches, four side seal pouches, blisters, lidding, and portion packs. On the basis of Material, it is segmented into Plastic Films, Paper, Aluminum Foil, and Bioplastics. Polymers were one of the major contributing materials, accounted for a major share of this market segment. Durability and cost-effectiveness make the product highly demanding among the users. Rising environmental concerns and stringent government regulation regarding CO2 emission may drive the industry towards more eco-friendly and biodegradable materials including cellulosic and bioplastics. Recent innovations in shale gas, growing PE film usage and reducing PE resin cost will further boost the polyethylene flexible packaging demand. A high moisture barrier, good low-temperature performance, high durability as well as ability to seal without any coating are some properties influencing material penetration. HDPE, LDPE, and LLDPE have majorly recognized PE products. Paper flexible packaging is widely utilized in medical and pharmaceutical industries with an aim to reduce infections and contamination. On the basis of Printing Technology, it is segmented into Flexography, Rotogravure, Digital Printing, and Other Printing Technologies. On the basis of Application, it is segmented into Promote, Food and Beverages, Healthcare, Cosmetics & Toiletries, and Other Applications. A rise in the demand for packaged and processed food as a result of changing lifestyle and eating habits has positively influenced flexible packaging market share from food and beverages application. The segment accounts for the major share of the market in terms of revenue. Increasing spending on bakery and cereal goods along with rising consumer consciousness pertaining to food safety and hygiene will drive the industry growth in this segment. Digital printing technology is widely used in this industry to serve the purpose of labeling on the flexible packaging. Enhanced safety, less maintenance, efficient energy consumption and minimizing waste are some of the beneficial factors enhancing digital printing. Rising consumer demand for processed and packed food items and shifting preference for aesthetically appealing products will fuel the flexible packaging market demand. Increasing extended shelf life requirement along with preservation from contamination open new avenues for industry growth in food and beverages and healthcare sector. Healthcare segment is projected to register highest growth rate in this market segment due to the rising disposable income accompanied by regulatory support.

Asia Pacific accounted for the largest share of the market. Economic development in India and China, along with food & beverages, and pharmaceuticals industry expansion are lucrative factors driving growth. Latin America is expected to witness lucrative growth in the coming years. Brazil and Argentina will be key contributing countries in this region, increase in consumer affordability along with e-commerce industry expansion will support the business growth. Europe flexible packaging market is mainly driven by Russia and Germany will witness a significant growth in the coming years. Growing demand for cosmetics and processed food among consumers due to the rising purchasing power will drive regional growth. Expansion in confectionery, dairy and medical industry, technological advancement in barrier materials coupled with rising retail business, stand up pouches usage will trigger the industry growth.

The market is dominated by companies like Amcor Limited, Bemis Company Inc., Constantia Flexibles Group GmbH, Sealed Air Corporation, Huhtamäki Oyj, Coveris Holdings S.A., Sonoco Products Company, Berry Plastics Group Inc., Mondi Group, and Reynolds Group Holdings.

Browse through the full report at https://www.marketdataforecast.com/market-reports/flexible-packaging-market-6572/ and checkout our recent reports in the Processed Food at https://www.marketdataforecast.com/subcategory/processed-food-15/ For more insights and up-to-date industry news don’t forget subscribing to our newsletters.

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