Our latest research report entitled Flexible Packaging Market (by product (pouches, bags, wraps, and others), material (plastic, flexible foam, paper, aluminium foils, and others), end user (food, beverages, pharmaceutical and medical, personal care and household care, tobacco, and others)) provides complete and deep insights into the market dynamics and growth of flexible packaging.
The latest information on market risks, industry chain structure Flexible Packaging cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Flexible Packaging growth factors. According to the report the global flexible packaging market is projected to grow at a CAGR of 3.7% over the forecast period of 2018-2024.
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According to the Flexible Packaging Association, flexible packaging is any package or any part of a package whose shape can be readily changed. Common examples of flexible packaging are bags and pouches. Flexible packages are used for consumer and institutional products and in industrial applications to protect the market and distribute a vast collection of products.
The main advantage of using a flexible market is that flexible packaging is reusable. Features such as zip locks, spouts, and resealable seals make usage more convenient. Flexible packaging is made from high-grade materials. These bags use (FDA) Food and Drug Administration approved food grade materials that are contaminant free and perfectly safe.
Increased product shelf life and increasing demand for consumer-friendly packages and enhanced product protection drive the growth of the flexible packaging market. Moreover, the increase in demand from healthcare, cosmetics, food, and beverages and other agricultural products is fuelling the growth of the flexible packaging market. Innovation and technology have enabled flexible packaging manufacturers to use fewer natural resources in the creation of their packaging.
Moreover, improvements in production processes have reduced water and energy consumption, greenhouse gas emissions and volatile organic compounds. However, stringent government regulations regarding polymer and recyclability of packaging material are likely to hamper the growth of the market. Furthermore, easy transportation and storage along with sustainable properties as well as the expansion of industry for export trading are the factors providing several growth opportunities for the key players in the flexible packaging market.
The Asia Pacific accounted for the Largest Share in the Flexible Packaging Market
Among the geographies, Asia Pacific accounted for the largest share in the flexible packaging market followed by North America. The growth in the Asia Pacific region is attributed due to the large custom base for production and increase in population. Moreover, expansion of the E-commerce industry particularly in China, India, and Vietnam are anticipated to trigger the industry growth. Moreover, the establishment of new manufacturing units by the government of Mexico has resulted in the development of new manufacturing facilities in the North American regions. On the other hand, robust growth in the healthcare sector due to the huge demand from the pharmaceuticals is influencing huge demand for flexible packaging over the years to come.
The report on the global flexible packaging market covers segments such as product, material and end-user industry. On the basis of product, the global flexible packaging market is categorized into pouches, bags, wraps, and others. On the basis of material, the global flexible packaging market is categorized into plastic, flexible foam, paper, aluminum foils, and others. On the basis of the end-user industry, the global flexible packaging market is categorized into food, beverages, pharmaceutical and medical, personal care and household care, tobacco, and others.
Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global flexible packaging market such as Reynolds Group Holdings Limited, Mondi Group, Berry Plastics Group, Inc., Sonoco Products Company, Coveris Holdings S.A., Huhtamäki OYJ, Bemis Company, Inc., Sealed Air Corporation, Constantia Flexibles Group GmbH, and Amcor Limited.
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The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global flexible packaging market. Moreover, the IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of the flexible packaging market.
Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the flexible packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the flexible packaging market to understand the present and future trends in this market and formulate their strategies accordingly.