Flexible packaging is essentially a package or container made of flexible or materials that, when filled or closed, can bend while still holding the shape. The materials used can be paper, plastic film, foil or any combination of these. Flexible packages are used for consumer and in industrial applications, to protect, market, and distribute a vast array of products. Flexible products include rollstock, bags, pouches, labels/wraps, lidding, shrink sleeves and stretch film. The market is driven by various factors such as increased consumption of processed foods & beverages, innovation in flexible packaging, and environmental advantage of flexible packaging. However, flexible packaging has various restraints that hinder the market growth such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling.
The global flexible packaging market has been segmented based on material, product, printing technology, and application. On the basis of material, the study indicates, plastic accounted for the largest market share and is expected to be fastest growing material in the market. Based on product, market can be segmented into pouches, bags, wraps, and others. The study indicates, pouches segment accounted for the largest market share and is expected to be fastest growing product in the market. Pouches are available in different types such as stand-up pouches, retort pouches, and pillow pouches. The stand-up pouches showing high growth rate mainly due to high barrier properties against moisture and oxygen coupled with low material usage and cost effective properties. On the basis of printing technology, the market has been segmented into Flexography, Digital Printing, and other. The study indicates, Flexography segment accounted for the largest market share and is expected to be fastest growing printing technology in the market. On the basis of application, market can be segmented into Food & Beverages, Personal Care, Pharmaceuticals, and Others. The study indicates, Food & Beverages accounted for the largest market share and is expected to be fastest growing application in the market.
The global flexible packaging market was valued at USD 234.36 billion in the year 2016, which is expected to reach USD 342.85 billion by the end of the forecast period growing at 5.92% CAGR.
The key players of global flexible 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.).
Objective of Global Flexible Packaging Market Analysis & Forecast, from 2017 to 2023
- Region-level demand analysis and forecast of the study market
- Study of the effect of exogenous & endogenous factors viz. demographic, economics, and political factors, which affect the global Flexible Packaging market
- Porter’s five forces market analysis to determine competitive scenario
- Segment and sub-segment level analysis of the market over the historical as well as forecast period
- Identification of key factors instrumental in the changing market scenario, such as tapping new market opportunities, and gaining competitive edge
- Distributer & Supplier companies
- End Users
- Consultants And Investment Bankers
- Research Institute / Education Institute
- The global flexible packaging market is expected to reach USD 342.85 billion by 2023.
- By material, Plastic segment in flexible packaging market accounts for the largest market share and is growing with approximately ~6.56% CAGR during forecast period.
- By product, pouch segment in flexible packaging market accounts for the largest market share and is growing with approximately ~6.95% CAGR during forecast period
- By printing technology, Flexography segment in flexible packaging market accounts for the largest market share and is growing with approximately ~5.59% CAGR during forecast period
- By application, Food & Beverages segment in flexible packaging market accounts for the largest market share and is growing with approximately ~6.12% CAGR during forecast period
- Geographically, Asia-Pacific accounted for the largest share in global flexible packaging market followed by North America.
Regional and Country Analysis of global flexible packaging market estimation and forecast
The global flexible packaging market is expected to grow at a promising rate during the forecast period. Asia-Pacific region dominates the global flexible packaging market. The increasing exports from these countries is leading to the growth of the flexible packaging market. The booming e-commerce market in the region is also contributing to the growth of the flexible packaging market. North America is the second largest market for the flexible packaging. Declining unemployment levels and growing demand for packaged food are some factors driving the demand of the market in this region.
The reports also cover country level analysis:
- North America
- ·Rest of the Europe
- ·Rest of Asia-Pacific
- Rest of the World
- ·South America
- ·Middle East & Africa