Global Flexible Packaging Market: Snapshot
Flexible packaging products are made by flexible or easy yielding materials and are used for storage and transportation of goods. These products could be closed or sealed when filled product to be stored and could change their shapes. These are made by plastic film, paper, foil or combination of these, based on the material stored and material to be transported. Flexible packaging is embraced by various industries owing to its light weight, convenience, appealing appearance, less wastage, easy transportation, and excellent storage properties. Furthermore, it makes packaging convenient and easy with features such as zip locks, re-sealable seals, and spouts.
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Flexible packaging offers beneficial properties such as it acts as a barrier against moisture, appropriate sealing, and heat insulation, which increased the demand for flexible packaging all around the world. Manufacturers are preferring flexible packaging over other types of packaging owing to its vital practicability, as it requires less storage space, enhances easy transportation, and controls employment of crude materials leading a lower generation of waste.
Advantages of aluminum foil, film, and paper, lower costs and lower material consumption and technological advancements are the factors that are motivating manufacturers to the shift from rigid packaging to flexible packaging. Market for flexible printing is fragmented owing to the presence of numerous small and big vendors. With the growth of pharmaceutical and food and beverage industries in Asia Pacific, this region is expected to exhibit high demand for flexible packaging. Furthermore, ongoing research and development in the field of this type of packaging is anticipated to create new opportunities for this market to grow.
Global Flexible Packaging Market: Overview
Flexible packaging is a reusable product holding a top position in the packaging market. It makes packaging easy and convenient with features such as spouts, re-sealable seals, and zip locks. It can readily change its shape when filled. The packaging product finds a large acceptance worldwide because of its excellent storage properties, easy transportation, less wastage, appealing appearance, convenience, and light weight. Industries such as FMCG, frozen food, and confectionery incorporate numerous applications of flexible packaging. Some of the frequently used materials in the flexible packaging market are aluminum, paper, and polymer.
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Global Flexible Packaging Market: Key Trends
Flexible packaging offers highly beneficial properties such as heat insulation, appropriate sealing, and barrier against moisture, which are deemed to have stimulated the demand in the world market. Manufacturers, commonly, are swiftly incorporating flexible packaging, owing to its vital practicability with regard to easy transportation, less storage space required, and controlled employment of crude materials facilitating a lower amount of waste.
The growth in the global flexible packaging market is prognosticated to be propelled by the ease of use and lightweight characteristic of convenient packaging, which is gaining traction in the recent time. The development of innovative thin elastic material, enhancing barrier properties, and leap in the technological advancement of flexible packaging are other factors receiving high focus in the world market.
Global Flexible Packaging Market: Market Potential
Mergers between large stalwarts of the world flexible packaging market are expected to become a common scenario on account of a stronger appetite witnessed for colossal turnovers and high performance production equipment. Giant companies CPS Flexible Ltd. and Mercury Packaging have announced their merger recently, which aims to step up production efficiencies and elevate capacity levels. The newfangled British Retail Consortium (BRC) accredited company has security, retail, publishing, and food markets marked on its target map. It is estimated that the new business could register a 25.0% projected growth and close to a £16.0 million annual yield.
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Global Flexible Packaging Market: Regional Outlook
Some of the profit-making aspects of growth of the Asia Pacific flexible packaging market could be the expansion of pharmaceutical and food and beverage sectors and economic development of countries such as China and India. The business surge in Argentina and Brazil is anticipated to be due to the enlargement of the e-commerce sector and rise in consumer affordability. Latin America is also predicted to show signs of growth.
A significant percentage of gain is envisaged to be on the part of the demand in the U.S. flexible packaging market. The growth in demand could depend on the elevating usage of standup pouches and increasing retail business. The technological sophistication of barrier materials and applications of flexible packaging in the medical, diary, and confectionery sectors are foretold to raise the bar for growth in the U.S. region.
The regional growth of the flexible packaging market in Europe is predicted to run a high demand on account of the soaring purchasing power set to augment the consumer demand for processed foods and cosmetics. Countries such as Germany and Russia are foreseen to register a moderate CAGR.
Global Flexible Packaging Market: Competitive Landscape
As a result of the presence of multiple regional industry players, the international flexible packaging market is foretold to display a fragmented character. With a view to stretch their geographical presence in the global market, a number of companies are projected to consider strategies such as extending product portfolio and practicing acquisitions and mergers. Companies such as Huhtamaki Group, Sonoco Products Company, Bemis Company, Constantia Flexibles Group, and Amcor Limited are analyzed to compete strongly against other players in the market.