pune, India -- (SBWire) -- 05/21/2018 --Converted Flexible Packaging Market Global Market – Overview

Converted flexible is the type of packaging which involves combining raw materials such as polyesters, adhesives, plastics, paper & paperboard, to create new packaging products, such as pouches and bags. It is widely used across applications such as pharmaceuticals, food & beverages, consumer goods, personal care, among others. Converted flexible packaging has wide applications in the F&B industry, mainly due to its features such as ease of handling, reduced production & shipment costs, and eco-friendliness. Rise in demand for packaged foods & beverages including ready-to-eat meals, frozen meals, and snack foods. Increase in consumer income in countries such as China, India, and Brazil, has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand of converted flexible packaging products.

Technological advancements in packaging plays a vital role in driving the growth of converted flexible packaging market. Advanced technology in packaging has allowed companies for innovation in products instead of sticking to traditional methods of packaging. Due to this, many companies are investing in R&D and are coming up with advanced converted flexible packaging products with barrier resistance properties that offer resistance against heat and moisture and eliminates oxidation of foods. Such properties prove effective in maintaining the quality and consistency of food products while extending their shelf life without the use preservatives. For example, the shelf life of head lettuce is extended from three days to fourteen days when packed in MAP packed bag. Recent advancements in materials and production processes have reduced the weight of some these packages up to 50%, subsequently lowering product shipping costs while maintaining product protection.

Plastic is the most largely used material in converted flexible packaging. Associations such as U.S. Food and Drug Administration, and European Food Safety Authority have put some stringent regulations, which may restrict the growth of the market. For example, materials made either entirely or partially from recycled plastics and used in contact with food, should only be obtained from processes, which have been assessed for safety by EFSA and authorised by the European Commission. Regulation EC 282/2008 establishes rules for the authorisation of processes used to recycle such materials. This restricts the use of all types and grades of plastic and hampers the plastic packaging market in turn.

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Key Players

Thule Group (Sweden), Magna International, Inc.(Ontario), VDL Hapro bv (Netherlands), MINTH Group Limited(China), Cruzber S.A (Spain), Atera GmbH (Germany), Rhino-Rack (U.S.), BOSAL (Belgium), JAC Products (U.S.) and Yakima Products Inc. ( U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global converted flexible packaging market.

Industry/ Innovation/ Related News:

The key strategies followed by most companies within the global converted flexible packaging market are that of new product development.

On May 2016, Bemis Company Inc. had completed the acquisition of the medical device packaging operations and related value-added services of SteriPack Group, which includes a facility in Ireland as well as packaging production assets in Malaysia and the USA. This acquisition supports the company to grow their healthcare packaging business.

In 2016, Graphics Packaging pursues the strategies of mergers & acquisitions. It spent USD 364 million on four strategic acquisitions in 2016, closing on G-Box (Mexico), Walter G. Anderson (U.S.), Metro Packaging Inc. (U.S.), and Colorpak (Australia).

In April 2016, Oracle Packaging set up new extrusion line in North Carolina (U.S.). The investment expands the extrusion technology and is expected to bring new capabilities and capacity to their client base. The motive behind making such an investment was to cater to the increasing needs of the expanding client base and generate revenue from the region.

Converted Flexible Packaging Market – Segmentation

The global converted flexible packaging market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Material : Comprises plastic, paper, and aluminum foil

Segmentation by Product : Comprises pouches and bags

Segmentation by Application : Comprises food & beverage, pharmaceuticals, and consumer goods.

Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Converted Flexible Packaging Market: Regional Analysis

U.S. accounts for the largest share of the North America converted flexible packaging market. Factors such as rising consumer preference of convenient packaging, increase in disposable income, and rising demand from food & beverage, pharmaceutical sectors, are some factors driving the demand of the market in U.S. Europe has always played a key role in innovation and development of personal care, hygiene and beauty products. Increased demand for consumer-friendly products that are lightweight and easily transportable, growing focus on sustainability, the increased need for extended shelf life, and rising standards of hygiene are the major drivers of converted flexible packaging market. The increasing number of supermarkets in the Asia-Pacific region and the growing demand for multipacks of various grocery products, are expected to boost the demand for converted flexible packaging products.

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