The global flexible packaging market is prognosticated to reach a value of US$358.7 bn towards the end of the forecast period that is set from 2017 to 2024
San Jose, CA -- (SBWIRE) -- 02/05/2019 -- Global Flexible Packaging Market: Overview
The emergence of bio-based and biodegradable films is the primary factor fuelling the growth of the global flexible packaging market. The use of these products is expected to offer sustainable solutions owing to the reduced dependency on fossil fuels.
Moreover, government support toward the use of environment-friendly products is projected to supplement the growth of the global flexible packaging market in the coming years.
The research study has offered a detailed analysis of the market, focusing on the latest trends and promising opportunities that lie ahead. A detailed overview of the competitive landscape of the global flexible packaging market has been provided in the study to give a strong understanding of the market. The key decisions and strategies adopted by the leading companies have been presented to guide existing and new players in framing effective business policies in the coming years.
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Global Flexible Packaging Market: Drivers and Restraints
The growing demand for flexible packaging for diverse applications is one of the primary factors augmenting the growth of the overall market. The growing need to ensure the quality and safety of products and preserve them from contamination and damage is driving the demand for innovative flexible packaging solutions worldwide.
Key players in the market are emphasizing on introducing effective products and expanding their product portfolio in order to reach a larger audience. This is expected to fuel the market's growth in the coming years.
Furthermore, the growing awareness regarding hygiene and food safety and the increased shelf life enabled by flexible packaging are some of the other drivers anticipated to boost the global flexible packaging market.
On the other hand, concerns related to handling in specific applications and various recyclability issues are expected to restrict the growth of the market in the next few years. Nevertheless, the introduction of specialty films is likely to offer lucrative opportunities for market players.
Global Flexible Packaging Market: Region-wise Outlook
The global market for flexible packaging has been classified on the basis of geography into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. Among these, Europe is expected to lead the global flexible packaging market and account for a share of 32.80% by the end of 2024. Growth in this region can be attributed to the presence of a large number of manufacturing industries.
Key players in Europe are focusing on introducing new packaging formats and multilayer films in order to extend the shelf life of products. This factor is projected to augment the flexible packaging market in the region.
Asia Pacific is expected to witness robust growth in the global flexible packaging market in the next few years. The lucrative opportunities offered by this region is attracting the attention of new entrants and established players looking to expand their market penetration.
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In addition, the swift economic development in Asia Pacific is boosting several industries, including personal care products, food and beverages, and pharmaceuticals. Countries in other regions are anticipated to witness a substantial rise in the consumption of packaging solutions owing to economic growth in developing countries.
Key Players Mentioned in the Research Report:
Constantia Flexibles Gmbh, Südpack Verpackungen, Wipak Group, Amcor Limited, Cellpack Packaging, Sealed Air Corporation, Mondi Group, Clondalkin Group, AR Packaging, Sonoco Products Co., Bischof + Klein International, Ampac Holdings, Llc, Huhtamäki Oyj, Bemis Company, Goglio Group, Schur Flexibles, and Berry Plastics Group, Inc. are some of the leading players operating in the flexible packaging market across the globe. The rising number of players participating in the market is expected to strengthen the competitive scenario in the next few years.
Key segments of the global flexible packaging market
Global Flexible Packaging Market, by Material Type
Biaxially-Oriented Polypropylene (BOPP)
Cast Polypropylene (CPP)
Biaxially-oriented polyethylene terephthalate (BOPET)
Poly Vinyl Chloride (PVC)
Ethylene Vinyl Alcohol (EVOH)
Global Flexible Packaging Market, by Product Type
Converted Roll Stock
Global Flexible Packaging Market, by Application
Food & Beverages
Bakery & Confectionery
Ready to Eat Food
Frozen & Chilled Food
Industrial & Institutional
Global Flexible Packaging Market, by Geography
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa (MEA)
Rest of MEA
This report gives you access to decisive data such as:
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for the coming years
Key highlights of this report:
Overview of key market forces propelling and restraining market growth
Up-to-date analyses of market trends and technological improvements
Pin-point analyses of market competition dynamics to offer you a competitive edge
An analysis of strategies of major competitors
An array of graphics and SWOT analysis of major industry segments
Detailed analyses of industry trends
A well-defined technological growth map with an impact-analysis
Offers a clear understanding of the competitive landscape and key product segments
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.