Converted Flexible Packaging Market - USD 104,999.8 million By the End of 2023 at 5.31% CAGR | Strategic Profiling of top Key Players With Competitive Landscape for the Market

Global Converted Flexible Packaging Market Information Report, By Material (Plastic, Paper, and Aluminum Foil), By Product (Pouches, Bags and Others), By Application (Food & Beverages, Pharmaceuticals, Consumer Goods and Others), and By Region - Global Forecast To 2023

Changing preferences, improved standard of living is expected to boost the demand for converted flexible packaging. Features such as longer shelf life and protection from other contaminants as well as performance and source reduction advantage over rigid packaging are some of the factors which will drive the demand for such packaging market. Moreover, growth will be driven by the ongoing investment in specialty film and advanced materials for higher-value offerings pushing the market towards growth. New trends show that pouches to be the fastest growing product segment for converted flexible packaging market. Product differentiation and the presence of convenience will boost the market demand.

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According to the MRFR analysis, the converted flexible packaging is increasing at a rapid pace and is expected to gain significantly over the forecast period. The global converted flexible packaging market is estimated to grow at a CAGR of 5.31% during the estimated period (2017-2023).

Industry News

Amcor Ltd announced an expansion of its flexible packaging segment in the strategically important Northern China region, with the acquisition of Hebei Qite Packing Co. Ltd worth USD 28 million (RMB 185 million). This acquisition may help to boost the growth of new and existing customers in the important Northern part of Asia Pacific region.

The global converted flexible packaging market is expected to reach a market size of USD 104,999.8 million by the end of the forecast period at a CAGR of 5.31%.

Key Players

The prominent players in the converted flexible packaging include Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), Constantia Flexibles Group GmbH (Austria), Graphics Packaging Holding Company (U.S.), Bischof + Klein SE & Co. KG (Germany), Honeywell International Incorporated (U.S.), Ampac Packaging LLC (U.S.), and Oracle Packaging Inc. (U.S.).

Market Research Analysis:

Asia pacific region referred as fastest growing region for global converted flexible packaging market. Shifting preference towards packaged food items will drive the growth of the market. Also, product differentiation and easy handling nature of the product will spur the market growth. Furthermore, new packaging, user-friendly and aesthetically appealing feature product will help boost the growth of the market. There are also lot of opportunities for innovation and development of new products and shift towards multilateral and multilayer packaging solutions which are expected to drive the growth of the market.

Hence, global converted flexible packaging market is expected to reach a market size of USD 1,04,999.8 million by the end of the forecast period at CAGR of 5.31%.

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Segmentation

For the purpose of the study, the market has been segmented based on material, product and application. On the basis of the material, the market is segmented into plastic, paper, and aluminum foil. Plastic accounted for the largest market share of 45.76% in 2016, with a market value of USD 33,670.3 million. Plastic in the form of PVC, PE, PP, and others are used broadly in plastic converted flexible packaging segment. These material provide high barriers, cost-efficiency, temperature resistance and durable packaging options. These factors are pouring the demand for the plastic material.

On the basis of the product, the market is segmented into pouches, bags, and others. Pouches accounted for the largest market share of 39.62% in 2016, with a market value of USD 29,152.4 million. Pouches are available in different types, which include stand up pouches, retort pouches, and pillow pouches. Stand up pouches are widely used for packaging of snacks, baked goods, and pourable materials such as beverages, soaps, and baby food.

Based on the application, the market is segmented into food & beverages, pharmaceuticals, consumer goods and others. Food & Beverages accounted for the largest market share of 39.10% in 2016, with a market value of USD 28,769.8 million. High demand for ready-to-eat and on-the-go foods and drinks continues to grow. Increase in disposable income and rise in population in countries such as China, India, and Brazil, has led to a growth in demand for good quality packaged food. Moreover, this type of packaging is also used for packaging of dairy products, sauce, and others. Therefore, the food & beverages application segment is projected to grow at a CAGR of 5.80% during the forecast period.

Brief Toc:

1. Executive Summary
2. Research Methodology
3. Market Dynamics
4. Global Market, By Packaging Type
5. Global Market, By Technology
6. Global Market, By Application
7. Global Market, By End-user
8. Regional Market Analysis
9. Competitive Analysis
10. Conclusion
11. List Of Tables
12. List Of Figures

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This study provides an overview of the global converted flexible packaging industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global converted flexible packaging market as material, and application. On the basis of material it is segmented as paper, plastic, metal, glass. On the basis of application it is segmented as Food & Beverages, Pharmaceutical, chemical, agricultural and other.

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