According to Stratistics MRC, the Global Flexible Packaging market is expected to grow from $171.76 billion in 2017 to reach $316.00 billion by 2026 with a CAGR of 7.0%. Factors such as growing demand from end-users, price-effectiveness and increased product shelf-life and improving comprehensive universal manufacturing activities are some of the key factors fuelling the market growth. However, strict regulations by government are some factors hindering the growth of the market. Replacement of conventional packaging by modern flexible packaging is providing ample growth opportunities in the coming future.
Flexible packaging refers to a package or material made of flexible and easily yielding materials, that when filled or closed can be readily change into multiple shapes. Moreover, flexible packaging is composed of plastics, papers, and metals as the key components of flexible packaging products, which are made from foil, paper sheet, laminated paper, and plastic layers. Flexible packaging is gaining grounds in the field of primary packaging. Advancements in material science have allowed manufacturers to create flexible packaging the food and beverage industry better than before.
In terms of significance, the stand-up pouches section was accounted for the major market share and is predicted to raise the highest value during the period. This expansion can be accredited to pouches as they are among those modern forms of flexible plastic packaging that help in terms of their ease of use and portability. Stand-up pouches offer many features such as zipper re-closure, pour spouts, slider closures, release valves, and sturdy shelf existence. They also provide high clarity and exceptional barrier properties to the product closed and stored within.
Asia-Pacific region has the largest share in the total market for flexible plastic packaging owing to manufacturers focus on developing low-priced flexible plastic packaging options. The Asia-Pacific region is predicted to index the highest growth during the forecast period this is certified to the large client base for FMCG products and purchaser durables, due to the expansion in people in countries of this region this, in turn, is anticipated to lead to the increase of the flexible plastic packaging in the market.
Some of the key players in flexible packaging the market include Wipak Group, S?dpack Verpackungen GmbH, Sonoco, Sealed Air Corporation, Schur Flexibles, Mondi Group, Goglio SpA, Flair Flexible Packaging Corporation, ExxonMobil Chemical, Coveris Holdings S.A., Constantia Flexibles Group GmbH, Clondalkin Group Holdings B.V., ACTEGA GmbH, BBC Cellpack Packaging, Bischof + Klein International, Berry Plastic Group, Bemis Company, Inc., Amcor, AR Packaging and Ampac Holdings, LLC.
- Plastic Films
- Polyester Films
- Flexible Foam
- Other Materials
- Gusseted Bags
- Wicketed Bags
- Vacuum Pouches & Bags
- Squeezable Bottles
- Other Types
- Personal Care and Household Care
- Food & Beverage
- Cosmetics & Toiletries
- Other Applications
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements