Flexible Packaging Market Estimated to Reach Market Size of US$ 342.85 Billion by 2023 | Growth Rate at 5.92% CAGR For Next 5 years

Market Research Future added New Report Named “Flexible Packaging Market Research Report – Forecast to 2023” to its Database.

Flexible Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation By Material (Plastic, Paper, Aluminum), Products (Pouches, Bags, Wraps), Printing Technology (Flexography, Digital Printing), Application (Pharmaceutical, Food & Beverages, Personal Care) And Region | Outlook to 2023” 

Growth in the demand from the food & beverage industry also provides an opportunity for market growth, especially in the emerging Asia Pacific and South American regions.

Market Highlights

The flexible packaging industry has the ability to be an important part of packaging solutions as it offers packaging in different sizes; innovations that help extend the shelf life of the product, and keep the package, safe. Innovation in terms of developments surrounding absorption of food odors, retard oxygen migration, and  longer preservation, has been driving flexible packaging. Packaging also acts as a barrier against moisture, microbes, change in temperatures and dirt, focusing on extending the shelf life of food and check spoilage, leading to less wastage of food. Flexible plastic packaging market is expected to reach the market size of ~USD 120 billion by the end of forecast period with CAGR of ~5.2% during the forecast period.

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Taste the market data and market information presented through more than 45 market data tables and 35 figures spread over 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Flexible Plastic Packaging Report -Forecast to 2022”.

To remain competitive, manufacturers have to make process improvements and invest in equipment designed to minimize scrap and deliver the required lower basis‑weight materials in sufficient quality and quantity. The packaging industry relies on sophisticated printing and converting machinery to deliver the quality, efficiency and innovation that the market demands. This drives its relatively high capital intensiveness. In the developed world, overall demand for consumer goods has been relatively static. However, demographic changes and increased market share competition between established FMCG producers has driven innovation in packaging.

Market Research Future Analysis:

Market Research Future analysis shows that the global market of flexible plastic packaging is estimated to grow at USD 120 billion by the end of year 2023. Asia Pacific is leading the market of flexible plastic packaging. With the increasing popularity of packaged food in countries such as India and China, the demand for flexible plastic packaging is expected to grow, significantly. Growing purchasing power, disposable income,  rise in manufacturing activities, and growth in the demand for conveniently packaged products, have resulted in an increase in demand for flexible plastic packaging market. Asia Pacific holds the largest market share in flexible plastic packaging market, followed by North America and Europe due to factors such as growth in the demand from the food & beverage industry and increasing investment by the industry players in the region. The global flexible plastic packaging market is expected to grow at CAGR of 5.2% during the forecast period.

Flexible plastic packaging market in food & beverage industry-

Flexible plastic packaging has an extensive application in food & beverage industry. Many companies offer a wide selection of bag and pouches, which is suitable for packing a variety of food products. These packaged products are available in a range of shapes, sizes and materials. The demand for ready-to-eat and on-the-go foods and drinks continues to grow. The increase in consumption of food, increases the consumption of flexible packaging products. Flexible plastic packaging is also used to package dairy products, sauce, honey, and others.

Key Players 

The prominent players in the flexible plastic packaging market includes Amcor Limited (Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).

The latest trend in the market is the momentum. The fragments of the market, and high competitive pressure from large vendors are forcing the small players to combine with the large ones through mergers or acquisitions. This is encouraged by the large players as they can expand their market presence and enter new markets. Mergers and acquisitions help small players adopt new technologies from the large players to survive in the competitive market.

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This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

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