Flexible Packaging Market by Material,Design Global Forecast to 2023
Meticulous Research® –leading
global market research company published a research report titled “Flexible Packaging Market by Material
(Plastics, Paper, Aluminum Foil, Bioplastics), Design (Stand-Up Pouch, Spouted
Pouch, Gusseted Bags, Rollstocks, Blister, Wrap) – Global Forecast to 2023”.
According to this latest
publication from Meticulous Research®, the global flexible packaging
market is expected to grow at a CAGR of 3.7% from 2018 to 2023 to reach USD
243.7 billion by 2023, driven by factors such as downgauging of plastic films,
shift from traditional rigid packaging to flexible packaging, easy transportation
and storage along with sustainable properties, increasing consumer focus on
convenience and sustainability, and improving barrier properties. Furthermore,
factors such as growing adoption of specialty films in the packaging industry,
the proliferation of bio-based plastic films, emerging markets, falling crude
oil prices, and a shift in food service from frozen to map packaged products
offer significant growth opportunities for the market players during the
forecast period.
The global flexible
packaging market study presents historical market data in terms of value (2016
and 2017), estimated current data (2018) and forecasts for 2023 – by material
(plastics, paper, aluminum foil, bioplastics, and recycled cellulose fiber),
design (pouches, bags and trays, rollstocks, squeezable bottles, blisters, and
wraps), and industry verticals (food and beverages, pharmaceuticals, household
and personal care, tobacco products, industrial and chemical products, and oil
and lubricants). The study also evaluates industry competitors and analyzes the
market at regional and country level.
The plastic packaging
material is being widely adopted owing to its distinctive attributes such as
flexibility, sustainability, and light weight. In addition, this material is
highly economical and can be used by all industries irrespective of their scale
of operations, and is easy to reuse and recycle. The plastics held a
significant share in 2017; however, paper and aluminum foil are set to be the
emerging and rapidly growing materials in the forecast period.
The polyethylene plastic
comprised the major market share in 2017 owing to its flexibility, good-low
temperature performance, durability, high moisture barrier, and the ability to
seal itself without coating which fuels their adoption in the packaging of consumer
goods. Polypropylene is an integral part of the flexible packaging market. This
segment is expected to witness the fastest growth mainly attributed to its
usage in the packaging of food materials owing to its characteristics such as
light weight, heat resistance; and a moderate barrier to moisture, gases, and
odors which is not affected by changes in humidity. Furthermore, the strength
and high melting point of polypropylene have made it the single most used
plastic. Also, the high clarity of polypropylene provides transparency for the
packaging of food materials.
This research report
analyzes major geographies and provides comprehensive analysis of North America
(U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy, Spain, and
RoE), Asia-Pacific (Japan, China, India, Australia, and RoAPAC), Latin America,
and the Middle East & Africa.
The global flexible
packaging market is highly competitive and fragmented with the presence of
several large well-established flexible plastic manufacturers in the market.
Some of the key players contributing to the growth of the global flexible
packaging market include Amcor Limited (Australia), Berry Plastics Inc. (U.S.),
Constantia Flexibles Group GmbH (Austria), Bemis Company, Inc. (U.S.),
Sonoco Products Company (U.S.), Mondi Group (Austria), Reynolds Group Holdings
Limited (New Zealand), Clondalkin Group Holdings BV (The Netherlands),
Huhtamaki Group (Finland), Coveris Holdings S.A. (Luxembourg), and Sealed Air
Corporation (U.S.) among several others.
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Contact Us:
Viren Shrivastava
Viren Shrivastava
AVP-
Global Sales and Marketing
Meticulous
Research®
Tel:
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Email:
viren@meticulousresearch.com
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