Flexible Packaging Market Insight
The global flexible packaging market is presently gaining much traction from across the world and is anticipated that it will expand at a CAGR of 6.09% during the forecast period (2019–2025), reveals Market Research Future (MRFR). In its extensive study, MRFR also focuses mainly on the driving forces, which are motivating the market to increase and expand considerably. The holistic approach further encompasses the segmentation and regional analysis, which depicts the market’s growth during its progression period.
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Key Market Players
The well-known players of global flexible packaging market are listed as
- HUHTAMAKI GROUP (Finland)
- Sealed Air (US)
- Sonoco Products Company (US)
- Mondi (Austria)
- Amcor Limited (Australia)
- COVERIS (US)
- CONSTANTIA (Austria)
- Reynolds (New Zealand)
- CLONDALKIN GROUP (The Netherlands)
- Berry Global Inc. (US)
Market Drivers & Trends
The global flexible packaging market is growing and witnessing a substantial surge owing to factors such as increasing exports businesses, mainly in the Asia Pacific region. The countries leading are China, India, and Japan as these exports numerous products to many parts of the world. Therefore, for exporting, the usage of flexible packaging remains at the top, which is contributing to the market’s growth.
At the same time, the latest E-commerce business trend has also substantially contributed to the market’s growth as the usage of flexible packaging is done to almost all the products to ship across the world. On the other hand, other factors such as augmented consumption of processed foods & beverages, modernization in flexible packaging have also played a pivotal role in the expansion of flexible packaging market, which is anticipated to take the market in gaining more valuation during the forecast period.
Furthermore, the call od technological advancements have also taken a significant part in the progression of the market and helped in its growth, till the date. Packaging sector also dwells with technology, which has made it reliable, effortless and safer than conventional packaging styles. Advanced technology in packaging has permitted companies for innovation in products instead of sticking to traditional methods of packaging, due to which, the major companies are investing more for R&D and resulting in introducing more advanced flexible packaging products with high properties such as barrier resistance, resistance against heat and moisture and eradicates oxidation of products, like food. By this, quality is maintained for a longer duration, while chance of extension of shelf life becomes high.
As an add-on, the recent advancements in materials and production processes have also reduced the weight of some flexible packages up to 50%, thus, lowering product shipping costs along with improved product protection. On the flip side, flexible packaging market could witness various restraints that hinder the market growth such as fluctuating raw material prices and rigorous regulations on packaging material waste and recycling, during the progression period.
Market Segmentation
The global flexible packaging market, as per MRFR’s study, has been segmented by material, product type, printing technology, and application.
In terms of material: Plastic, paper, aluminum foil, and more are the segments. Among which, the plastic segment is leading the market for its wide-ranging applications in packaging through various end-use industries. Assorted plastics such as PVC, PE, PP, PET is being used extensively in industries. It also extends as high-barrier, cost-efficient, temperature-resistance, and durable packaging choices.
In terms of product type: Pouches, bags, wraps, and other types are included. Among which, the pouch segment acquires the maximum market share as it incorporates stand-up pouches, retort pouches, and pillow pouches as these have high barrier properties against moisture and oxygen, along with low material usage and cost-effective features.
In terms of printing technology: Flexography, digital printing is included. Among these, the flexography has maximum market share, which is a traditional method of print and can be used across various type of substrates, such as corrugated cardboard, cellophane, plastic, label stock, fabric, and metallic film.
In terms of application: Food & beverage, pharmaceutical, personal care are the segments. Among which, the food & beverage segment has the maximum market share in support of their expanding call for ready-to-eat and on-the-go foods and drinks continue to grow.
Regional Outlook
The regional analysis of the flexible packaging market spans across North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).
Among these, in Asia-Pacific, the market is expected to propel substantially due to factors such as growing population and prompt industrialization in developing countries. Besides, the risen per capita disposable income and changing preferences and lifestyle of consumers also have a constructive impact on the growth of the market. Countries like China, India, and Japan are the main spots that contribute significantly to the flexible packaging market in the region. These countries have witnessed an emergence of global companies, and their presence is raising the demand for flexible packaging in the region.
North America is recorded for having the largest share of the market of flexible packaging owing to the factors such as rising consumer preference of convenient packaging, increase in disposable income, and growing demand from food & beverage, pharmaceutical sectors, are driving the demand of the market, mainly in the U.S.
The market in Europe has always played a key role in innovation and development of personal care, hygiene, and beauty products. Therefore, with the enhanced demand for lightweight consumer-friendly products and easily transportable are also contributing to the market’s growth. With this, the rising focus on sustainability, surged need for extended shelf life, as well as rising standards of hygiene are also the primary drivers of flexible packaging market.
Table Of Content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
Continues…..
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