Global Flexible Plastic Packaging Market, By Type (Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others), By Printing Technology (Flexography, Digital Printing and Others), By Application (Food & Beverages, Pharmaceuticals, Personal Care and Others) and Region – Forecast 2017-2023.
The major player operating in the market of global flexible plastic packaging are Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).
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Synopsis of Flexible Plastic Packaging Market:
Flexible packaging is one of the fastest growing segments of the packaging industry, and it integrates the best qualities of plastic, film, paper and aluminum foil to offer an extensive range of protective properties. It essentially takes the shape of a bag, pouch, liner, or overwrap, or any part of a package whose shape can readily be changed. Such packaging is used for consumer products and in industrial applications, to protect, market, and distribute a variety of products.
Market Drivers and Restraints:
The flexible plastic packaging is currently the fastest growing packaging type in the global market. Extensive utilization of this packaging in various industrial sectors is fueling the growth of the global flexible plastic packaging market. Flexible plastic packaging offers improved packaging designs, use of recyclable materials and increases the shelf life of products.
Flexible plastic packaging is utilized extensively in food and beverages industry. Various food and beverage products are packed using this packaging such as coffee, tea, frozen food, baked goods, chocolates, confectionery, snacks and others. Increasing consumption of these food and beverage products is inducing high demand for flexible plastic packaging in the global market, which in turn is resulting in the expansion of the global flexible plastic packaging market
In September 2018, Amcor has announced that it will invest more than $25 Mn to expand and upgrade an existing facility in Madison, Wisconsin.
In September 2018, Mondi and Werner & Mertz have announced that they will be introducing new, patented fully recyclable pouches with detachable decorative panels in the year 2019.
The global flexible plastic packaging market has been segmented on the basis of type, printing technology and application. Based on type, the flexible plastic packaging market has been segmented into stand-up pouches, flat pouches, gusseted, bags and others. The stand-up pouches segment is anticipated to account for the largest market share during the forecast period due to growing consumption of dairy products, cosmetics, food & beverages and personal care products that are usually packed using flexible plastic packaging.
Based on printing technology, the flexible plastic packaging market has been segmented into flexography, digital printing and others. Based on application, the flexible plastic packaging market has been segmented into food and beverages, pharmaceutical, personal care and others.