Flexible Packaging Market to Record an Impressive Growth By 2024
Sarasota, FL -- (SBWIRE) -- 09/15/2017 -- Growing end-user industries such as food and beverages, cosmetics and toiletries, healthcare, and others such as household products, oil & lubricants, agricultural products, and sporting goods are the major factor boosting the growth of the global flexible packaging market around the world. In addition, continuously changing consumer lifestyles and growing consumption of ready-to-eat and pre-made meals are other factors impacting the global flexible packaging market in a positive way. Furthermore, the competition in the flexible packaging market is constantly growing mainly due to increasing demand from various end-user industries such as food & beverages, cosmetics & toiletries, healthcare, and others.
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Based on the material used, the global flexible packaging market is segmented as aluminum foil, plastic films, bioplastic, and paper. The plastics films segment is further sub-segmented as polyethylene, polypropylene, PVC, BOPET, EVOH, polyamide, and others. Based on the printing technology, the global market is segmented as flexography, rotogravure, digital, and others. The others segment is further sub-segmented as the screen, offset, and letter press. On the basis of type, the global flexible packaging market is further segmented as flat pouches, wraps, gusseted bags, wicketed bags, stand-up pouches, and retort pouches, and, others. The others segment is further sub-segmented as sachets and sticks packs. Based on the applications, the global market is segmented as food & beverages, healthcare, and cosmetics & toiletries, and others.
Raw materials such as plastic films, aluminum foil, paper, and bioplastic are used for flexible packaging. Factors such as growing consumer preferences towards convenient packaging, ease of use, and its lightweight characteristic are driving the demand for flexible packaging. In addition, manufacturers are also opting for flexible packaging as it produces less waste because of lower consumption of raw materials, requires less storage space, is easy to transport, and has excellent barrier properties. Hence these factors result in significant growth of the global flexible packaging market around the world.
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Asia Pacific is anticipated to be the largest player in the global flexible packaging market mainly owing to increasing demand from end-user industries in countries such as India, China, and Japan. The other reason for such large growth of Asia Pacific is the growing population and increasing disposable income in these countries.
Some of the major players dominating the global flexible packaging market are Mondi Group, Bemis Company, Inc., Clondalkin Group Holdings B.V., Constantia Flexible Group GmbH, and Ampac Holdings LLC. Other key players influencing the global market are Sonoco Products Company, Sealed Air Corporation, Amcor Limited, Coveris Holdings S.A., and Huhtamaki Group.
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