Flexible Packaging Market by Product (Bags, Wraps, Stretch films, Standup pouches, Sleeve labels, Shrink bundling, Lidding, Cut/wrap), Material (Aluminum , Paper, Plastic Films), Industry (Food and Beverage, Healthcare, Personal Care, Medical and Pharmaceutical), & Geography – Forecasts from 2018 to 2023
According to a new market research report “Flexible Packaging Market by Bags, Wraps, Stretch films, Standup pouches, Sleeve labels, Shrink bundling, Lidding, Cut/wrap), (Aluminum , Paper, Plastic Films), (Food and Beverage, Healthcare, Personal Care, Medical and Pharmaceutical)& Geography – Forecasts from 2018 to 2023”
Flexible packaging is any package or any part of a package whose shape can be readily changed. The packaging may consist of paper, plastic film, foil or any combination of these. The largest market for flexible packaging is food (retail and institutional). Other markets include consumer products, industrial applications, medical and pharmaceutical. Flexible packaging market anticipates a strong growth in future. According to the World Bank data, the world population has increased from 7.357 to 7.444 billion from 2015 to 2016. According to OECD data, the household disposable income has shown a significant increase. For instance, in the European Union, the household income has shown an increase in annual growth rate from -0.26% in 2009 to 2.12% in 2016. Due to changing lifestyle, increasing consumer affordability and growing awareness about the importance of safe food and clean water, people are now willing to pay more for flexible packaging as it offers tangible packaging benefits like freshness, convenience, portability, and extended shelf life. Increasing consumer healthcare consciousness has played a significant role in the expansion of this market. Keeping this in mind, manufacturers have now shifted their focus on innovative and cost-effective packaging materials. All these key driving factors will create notable opportunities for flexible package market growth. The flexible packaging market was valued at US$106.796 billion in 2017 and is projected to expand at a CAGR of 4.66% over the forecast period to reach US$140.363 billion in 2023.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the flexible packaging market.
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This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
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Major industry players profiled as part of the report are Amcor Limited, ProAmpac, Constantia Flexibles, Innovia films, Printpack, and others include Sonoco, Bemis Company, Inc, Sealed Air Corporation among others.
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