Flexible Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 11/14/2016 -- Global revenues from flexible packaging are expected to notch the US$238.5-bn mark by the end of 2016, says a new report that is now available on the website of Market Research Reports Search Engine (MRRSE). The report also states that expanding at a CAGR of 5.2% between 2016 and 2024, the market is projected to stand at US$358.7 bn by 2024. These findings are elaborated upon in the report, titled, "Flexible Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024," which has been published by Transparency Market Research (TMR).
The long-term future of the global flexible packaging market lies in bio-based materials. With sustainable packaging becoming an influential trend in the packaging industry, companies such as The Dow Chemical Company and Amcor Limited are investing in flexible packaging materials that are recyclable.
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The use of flexible materials in primary packaging is helping the overall flexible packaging market grow, says the report. Moreover, the launch of improved food-grade flexible packaging materials thanks to advances in materials science, will further fuel the growth of the market. However, never before has the demand for lower weight, increased strength, and near-elimination of contamination possibility been higher in the packaging industry. This trend directly affects the kind of flexible packaging materials being brought to the market. It is expected that the next few years will see pioneering moves by companies in the flexible packaging market on account of this factor.
An unprecedented spike in the use of flexible packaging is also being reported from the consumer goods sector. The boom of e-commerce in developing countries—where volume sales are higher than in developed countries—will greatly help stoke demand for flexible packaging, the report further notes. For the purpose of this study, the global marketplace for flexible packaging has been sheared down for a detailed study. To do this, the report splits the market into smaller segments based on geography, material type, product type, and application.
The findings of the report show that Europe will stake a claim to the top position in the global flexible packaging market. The current dynamics in the European flexible packaging market reveal interesting trends: While demand in Europe will show only marginal growth, volume sales have reached a level that will help the region stand the tallest among other geographical segments. According to the report, the Europe flexible packaging market is expected to generate revenues amounting to US$117.7 bn by 2024. A similar saturation in demand is surfacing in North America.
However, fears of demand nearing a standstill will be offset by the sharp increase in flexible packaging being reported from the Asia Pacific region. The thriving consumer goods, food and beverage, electronics, and logistics sectors are collectively aiding the growth of the flexible packaging market in Asia Pacific.
Browse Full Global Flexible Packaging Market Report with TOC:http://www.mrrse.com/global-flexible-packaging-market
The author of the report says, "Perishable food items such as fruits and vegetables are, for the most part, packaged in flexible materials in developed countries. In industrialized countries, over 70% of fresh vegetables and fruits sold in the retail sector are packaged in flexible materials. On the other hand, the flexible packaging market in developing countries is worth investing in and will return profitable results in the coming years."
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