Flexible Plastic Packaging Market with Market Leaders & Key Revenue Pockets Expected to Collect 131.65 Billion USD by 2022
The report [215 pages] "Flexible Plastic Packaging Market by Type (Stand-Up Pouches, Flat
Pouches, Gusseted Bags, Wicketed Bags, Wraps, Rollstock), Material (Plastic
Films, Paper, Aluminum Foil, Bioplastics), Printing Technology, Application,
and Region - Global Forecast to 2022", is projected to grow from USD
102.19 Billion in 2017 to reach USD 131.65 Billion by 2022, at a CAGR of 5.2%.
The global flexible plastic packaging market is witnessing a growth in demand,
owing to the rise in manufacturing activities and growth in the demand for
conveniently packaged products. The 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.
Drivers
& Opportunities in global industry:
·
Cost-effectiveness & increased shelf life of
the product
·
Downsizing of packaging
·
Rise in demand from end users
·
Improvements in global manufacturing activities
·
Substitution of traditional packaging
·
Growth in demand for sustainable packaging
solutions
·
Modern technologies
·
Emerging markets
The global flexible packaging market is emerging with a
positive growth due to the rising consumption of flexible packages in the
end-use applications such as food, beverage, personal care products, and
pharmaceuticals. There is a continuous need of innovations in the flexible
packaging industry to gain a competitive edge over the other players. There is
no other substitute to packaging, so more innovation and versatility is
required in the existing products. Therefore, all the key companies have their
own research and development department to provide new and innovative packaging
to their customers.
The rising health concerns and environmental risks have
promoted various regulations, which have further resulted in increased
consumption of flexible packages in different end-use segment as well as in
different regions. In order to achieve this hike, innovations are being
undertaken to meet the synchronization of consumer needs as per their
requirements. The demand for renewable and sustainable resins is also gaining
hold in this industry.
Asia-Pacific market has tremendous opportunities for flexible
packaging and its end-use applications. This region has emerged to be the
driving factor for this market, contributing to around 34.0% of the global demand.
China is the market leader in the Asia-Pacific region due to the changing
lifestyle, urbanization, and changing consumer taste and preferences. The other
emerging economies such as Brazil, Russia, India, etc. are further lined up for
future growth in this market. The company such as Sealed Air Corporation
invested in new technology and manufacturing capabilities at its Kuantan plant
in Malaysia to improve production of its ethafoam specialty packaging. This
expansion includes setting up two production facilities for shrink films and
foam packaging solutions to meet the markets demand.
Through their organic growth strategies of expansion and new
product developments, the companies are expanding worldwide. The key companies
operating in this market such as Amcor Ltd. (Australia), Sealed Air Corporation
(U.S.), Bemis Company Inc. (U.S.), Mondi (South Africa), Huhtamäki Oyj
(Finland), and Sonoco Products (U.S.) are engaged in innovating their products
as well as enhancing their penetration in the global flexible packaging market.
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ReplyDeletePaper is used a lot these days as a packaging material. However, this does not contribute to the long preservation of heat and flavor of food. You can check the polyester film manufacturer in China as an inexpensive heat-resistant film that meets the needs of consumers.
ReplyDelete