The sachet and pouches division is considered to exhibit high potential furthermore is slated to grow at a remarkable 7.7% CAGR over the assessment period.

New York City, NY -- (SBWire) -- 10/30/2017 --The worldwide market for flexible plastic packaging is expected to witness a strong growth as a result of a number of drivers influencing it such as rising demand from the pharmaceutical and food and beverage industry, increase in middle class population, increasing preference of handling and convenient packaging, growing implementation of plastic flexible packaging because of the variety of benefits it provides like simple to store, lightweight, inexpensive, reseal and carry, creates appeal, sustains the products shelf life, multiple packaging options for ample variety of products, easy to transport, maintains and indicates freshness, ease invisibility of the products within. These aspects are fuelling the expansion of the global market flexible plastic packaging is anticipated to record a CAGR of 6.7% throughout the projected period of 2017-2022.

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Market Segmentation

The overall market is segmented on the basis of pack type, material type, end use and region.

Based on pack type, the market is sub-segmented into bags, sachet and pouches, films and wraps, tubes and others pack types (squeezable bottles, liquid packaging). The sachet and pouches division is considered to exhibit high potential furthermore is slated to grow at a remarkable 7.7% CAGR over the assessment period.

Based on the material type, the overall market is sub-categorized in BOPP, BOPET, polyethylene, cast polypropylene, polypropylene, polyamide, ethylene vinyl alcohol, polyvinyl chloride and polystyrene. The Polyethylene material type segment is estimated as the biggest segment to hold maximum market shares of approximately 50% as well as is likely to dominate the worldwide market during the calculated period. On the other hand, the BOPP segment is anticipated to record a high growth rate over the assessment period of 2017-2022.

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The flexible plastic packagings are broadly used in the personal care products, tobacco products, food and beverages, pharmaceuticals and industrial and institutional. The personal care products are expected to a steady growth and will record a CAGR of 7.9% over the estimated period. The tobacco products and food and beverage segment are likely to record similar growth rate during 2017-2022.

The overall market is studied across the six prominent regions, namely, Japan, Asia-Pacific, Europe, Middle East & Africa, Latin America and North America. The APEJ region is expected to gain the largest market share moreover is set to dominate the market globally during the said period. The APEJ market is also projected for high growth pace and will record a CAGR of 7.3% over the projected period. Following the APEJ market from the growth standpoint, Middle East and Africa, North

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America, Europe and Japan regions are likely to record a moderate growth rate during the projected period.

Key Market Players

The prominent market players in the flexible plastic packaging globally include

Sealed Air Corporation, Bemis Company, Inc, Amcor Ltd., Constantia Flexibles Group GmbH, Mondi Group plc, Berry Global Group, Inc., Huhtamäki Oyj, Sonoco Products Company, Ampac Holdings,, Montaplast GmbH, Bischof and Klein SE & Co. KG

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