Flexible Packaging Market By Material type Plastics, Paper, Aluminum Foil, Bioplastics - Global Opportunity Analysis And Industry Forecast To 2023

Increasing Consumer Focus on Convenience and Sustainability Drives the Demand for Flexible Packaging

One of the important factors driving the growth of flexible packaging market is the growing inclination of consumers towards convenience products. The changing consumer preferences due to busy lifestyles and smaller household units demand products that are easy to open, store, use, carry, and dispose, and that cater to their on-the-go lifestyles. This in turn is favoring product packaging that complements the modern lifestyle. With convenient packaging, on the go options can be utilized for wide range of products. Convenient packaging is not just limited to food and beverages, but finds growing applications ranging from healthy products complementing fit lifestyle choices to prescription and personal care items. Packaging convenience is a key purchasing motivator for consumers. It affects their preference towards a particular type or design of packaging and influences their behavior.

Download Free Sample PDF @ https://www.meticulousresearch.com/download-sample-report/?cp_id=4220

The flexible packaging products such as boil-in-the-bag, bake-in-the-carton, mix-in-the-pouch, and serve-from-the-tray are the major examples of flexible packaging products offered from consumer’s point of view and avail the kind of convenience consumer require. Consumer packaged goods companies are responding to this demand by creating more snacking options that are smaller sized. Thus, the changing consumer lifestyle and consumption habit will drive the adoption of flexible packaging in several end user sectors such as food and beverages, pharmaceuticals, and home and personal care.

Key Findings in the Flexible Packaging Market Study: https://www.meticulousresearch.com/product/flexible-packaging-market/

flexible packaging market

Plastic Packaging Dominates the Global Flexible Packaging Market

Plastic has been used as the most sustainable material for packaging in various industry verticals including food and beverages, pharmaceuticals, cosmetics, tobacco products, as well as the personal care industry. According to the PlasticsEurope- one of the leading European trade associations, in 2016, the global plastic production was recorded at 335 million tonnes, out of which, 39.9% was used in packaging. The growth in the plastic packaging market would be driven by the growing adoption of plastics (polypropylene, polyethylene terephthalate, PVC, and polystyrene) owing to its distinctive attributes such as flexibility, sustainability, and lightweight; highly economical and can be used by all industries irrespective of their scale of operations; and ease of reuse and recyclability. Furthermore, rising use of biodegradable plastics due to increased awareness about eco-friendly products among consumers; and changing lifestyles and eating habits have led to the growing demand for packaged fast foods, therefore driving the adoption of plastic in the packaging of food products. Moreover, features such as biodegradability; ability to survive in hot and cold temperature preventing the integrity of food inside it; and the durability offered by plastic packaging allows manufacturers to print eye-catching, high-quality custom designs, and thereby increase product visibility in a retail setting. Also, increasing consumption of packaged consumer goods such as beverages and processed foods attributed to rising income level and growth in middle class population will further fuel the demand for flexible plastic packaging.

Food and Beverage, and Pharmaceutical Industry Segments Driving Gains

The Food and Beverage and Pharmaceutical industries are until now the two leading industries in the flexible packaging market, together representing more than half of the demand in 2017, and will continue to have the greatest impact on gains through 2023. Proper packaging enables easier and more successful transportation of food and pharmaceutical products. Moreover, rising demand for advance packaging in emerging nations owing to increasing consumption of packaged food items, and increasing concerns related to health and nutrition further drives the growth of advance packaging in the food and beverage industry. Also, rising penetration of automated food manufacturing plants demands the use of modern packaging systems for barrier free packaging of finished products, thereby boosting the market growth.

China and India to Witness Fastest Growth

In APAC, China and India provides lucrative growth opportunities for the packaging market players due to the large population base; increase in packaged food consumption; growing organized retail sector and the boom in E-Commerce; and rise in per capita income. These factors will also ensure China and India remains a dominant market in the coming years. Some of the leading packaging companies operating in China and India are Amcor Limited, Huhtamaki Group, Hindalco, Mondi Group, and Uflex Limited.

Scope of the Study

This industry study presents historical value market data (2016 and 2017), estimated current year data (2018) and forecasts for 2023 for the following segments. The study also evaluates company market share and analyzes industry competitors including Amcor Limited, Berry Plastics Group Inc., Huhtamaki Group, Mondi Group, and Sealed Air Corporation among others.

Download Free Sample PDF @ https://www.meticulousresearch.com/download-sample-report/?cp_id=4220

About Meticulous Research®

Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Contact us :
Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Email: viren@meticulousresearch.com
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Office No-402, 4th Floor, Pushpak Business Hub, Wakad, Pune-411057

This release was published on openPR.