The Flexible Packaging Market perceives rapid revenue growth worldwide. Rising pressure to reduce packaging cost, material use, and environmental impact define the growing market landscape. Packaging companies are increasingly developing new packaging designs using recycled plastic materials.
Also, they are restructuring their processes to optimize and upgrade productivity, making them adaptable to recycle streams for multi-material structures, which are shaping new flexible packaging formats. With the spurring rise in the food & beverage industry witnessing the high demand for ready-to-eat and on-the-go foods & drinks, the market is projected to garner substantial traction in the years to come.
According to Market Research Future (MRFR), the global flexible packaging market is estimated to grow at an impressive CAGR during the estimated period (2020-2027). The increase in disposable income and population growth worldwide increase the market size, increasing the demand for flexible packaging in various lifestyle products.
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COVID-19 has impacted consumers' grocery shopping habits, shifting it from brick & mortar shops to online shopping, creating opportunities for manufacturers, retailers, and consumers. Innovative solution providers have actively started finding new application areas in the packaging sector, which would foster the flexible packaging market growth.
Moreover, rising uses of flexible packaging for dairy products and others escalate the market demand. Advantages of flexible packaging solutions, such as development and printing on different shapes and sizes of pouches, bags, and wraps, boost the market growth, increasing the preferences and demand.
Conversely, the price volatility and demand-supply gap in raw materials required for production are major factors impeding the market growth. Nevertheless, the rising demand for fresh food and bakery products packaging solutions would support market growth throughout the assessment period.
Flexible Packaging Market – Segments
The report is segmented into products, printing technologies, applications, and regions. The product segment is sub-segmented into bags, pouches, wraps, and others. The printing technology segment is bifurcated into flexography, digital printing, and others. The application segment is sub-segmented into food & beverages, pharmaceuticals, personal care, and others. The region segment is sub-segmented into APAC, Europe, Americas, and the Rest-of-the-World.
Global Flexible Packaging Market – Regional Analysis
The Asia Pacific region dominates the global flexible packaging market. The market rise attributes to the spurting growth in the packaging sector, booming e-commerce market, growing demand for packaged food, and consumers growing disposable income in the APAC region. With the presence of leading exporters of goods to different parts across the globe, Japan, India, and China increase the region's flexible packaging market share. The APAC flexible packaging market is expected to retain its dominance throughout the forecast period.
Flexible Packaging Market – Competitive Landscape
Highly competitive, the flexible packaging market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product & technology launches.
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Major Players:
Players leading the global flexible packaging market are Reynolds (New Zealand), Clondalkin Group (The Netherlands), Berry Global Inc. (US), Mondi (Austria), CONSTANTIA (Austria), Huhtamaki Group (Finland), Sonoco Products Company (US), COVERIS (US), Amcor Limited (Australia), and Sealed Air (US), among others.
Industry/ Innovation /Related News:
Aug.16, 2021 --- Huhtamaki announced the acquisition of a major supplier of flexible packaging – Elif. The acquisition would enable Huhtamaki to reinforce its position as a flexible packaging leader in emerging markets, strengthen its existing flexible packaging business in consumer product categories, and advance its sustainability goals.
The acquisition would also expand Huhtamaki's technology capabilities and product range, allowing it to serve its customers better and expand its manufacturing footprint into Turkey, one of the top future growth countries for flexible packaging.
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When compared to other standard packaging types, this packaging has a low raw material usage, a low carbon footprint, and produces comparatively little waste.
On the basis of the material, the global converted flexible packaging market has been segmented into plastic, paper, and aluminum foil.
Plastic held the largest market share of 45.76% in 2016, with a value of USD 33,670.3 million.
Plastic in the form of PVC, PE, PP, and others are mainly used in the plastic converted flexible packaging segment.
These materials offer high barriers, cost-efficiency, temperature resistance, and durable packaging options.
Food & Beverages earned the largest market share of 39.10% in 2016, with a market value of USD 28,769.8 million.
Flexible Plastic Packaging is a non-rigid method of plastic packaging.
The process uses flexible plastic materials that can easily change shape based on the nature of the product being packaged.Flexible plastic packaging is widely used in food, household products, medical products, personal care products, and others.The technical barriers of flexible plastic packaging are relatively low, and the flexible plastic packaging enterprise disperse in many countries, and the relative large companies include Amcor, Bemis, Sealed Air, Sonoco, Berry Plastics, Constantia Flexibles, Linpac, Huhtamaki and others.https://www.grandresearchstore.com/report-sample/global-flexible-plastic-packaging-2019-2024-735According to this study, over the next five years the Flexible Plastic Packaging market will register a 3.0% CAGR in terms of revenue, the global market size will reach US$ 97000 million by 2024, from US$ 83600 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Flexible Plastic Packaging business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Flexible Plastic Packaging market by product type, application, key manufacturers and key regions and countries.This study considers the Flexible Plastic Packaging value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.PPPEPETSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.Food IndustryPharmaceuticalPersonal & HomecareThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.The key manufacturers covered in this report: Breakdown data in in Chapter 3.AmcorBemisSealed AirSonocoBerry PlasticsConstantia FlexiblesLinpacHuhtamakiWipak GroupProAmpacUkrplasticNovelZijiangSouthern Packaging GroupIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Flexible Plastic Packaging consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Flexible Plastic Packaging market by identifying its various subsegments.Focuses on the key global Flexible Plastic Packaging manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Flexible Plastic Packaging with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the consumption of Flexible Plastic Packaging submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.Get the Complete Report & TOC @ https://www.grandresearchstore.com/chemicals-and-materials/global-flexible-plastic-packaging-2019-2024-735Table of content2019–2024 Global Flexible Plastic Packaging Consumption Market Report1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Flexible Plastic Packaging Consumption 2014–20242.1.2 Flexible Plastic Packaging Consumption CAGR by Region2.2 Flexible Plastic Packaging Segment by Type2.2.1 PP2.2.2 PE2.2.3 PET2.3 Flexible Plastic Packaging Consumption by Type2.3.1 Global Flexible Plastic Packaging Consumption Market Share by Type (2014–2019)2.3.2 Global Flexible Plastic Packaging Revenue and Market Share by Type (2014–2019)2.3.3 Global Flexible Plastic Packaging Sale Price by Type (2014–2019)2.4 Flexible Plastic Packaging Segment by Application2.4.1 Food Industry2.4.2 Pharmaceutical2.4.3 Personal & Homecare2.5 Flexible Plastic Packaging Consumption by Application2.5.1 Global Flexible Plastic Packaging Consumption Market Share by Application (2014–2019)2.5.2 Global Flexible Plastic Packaging Value and Market Share by Application (2014–2019)2.5.3 Global Flexible Plastic Packaging Sale Price by Application (2014–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
