The use of flexible plastic packaging across numerous end-users such as personal care, healthcare, food and beverages, and pharmaceuticals may bring massive growth opportunities for the flexible plastic packaging market. The overwhelming capability of the flexible plastic packaging to guard the products into it is bringing immense growth prospects for the flexible plastic packaging market.
Sustainability Inviting Extensive Growth
The need for environmental conservation is bringing great growth opportunities for the flexible plastic packaging market. Various initiatives and programs are being organized to enable the recycling of flexible plastic packaging.
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For instance, The Kroger Co., a company in Cincinnati has announced the Simple Truth Recycling Program providing the consumers to recycle flexible plastic packaging of more than 300 products from its ‘Simple Truth’ program. In another development, Sealed Air, a flexible plastic packaging company has forged a partnership with Plastic Energy, an advanced recycling technology company. Such initiatives lay a red carpet of growth across the flexible plastic packaging market.
‘Transparency Factor’ Gaining Good Traction
With flexible plastic packaging, one can review the physical properties of a product, thus inculcating trust about the specific product. This aspect brings great growth prospects for the flexible plastic packaging market. The manufacturers in the flexible plastic packaging market also indulge in activities like mergers and acquisitions to strengthen their foothold. Therefore, this aspect eventually helps in increasing the growth rate.
Some significant players in the flexible plastic packaging market are Constantia Flexibles Group, Sealed Air Corporation, Sigma Plastics Group, Coveris Holding S.A., ProAmpac, and Mondi PLC.
Asia Pacific may Emerge as Largest Growth Contributor
The rising demand for flexible plastic packaging across countries in the Asia Pacific may bring considerable growth opportunities for the flexible plastic packaging market. Rising disposable income across a major population is also inviting great growth prospects. China may emerge as a key growth contributor.
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