Press release
Flexible Packaging Market Regional Analysis 2024 by Key Players Amcor Limited, Constantia Flexibles Group, Bemis Company, Sonoco Products Company and, Huhtamaki Group
Flexible Packaging Market
Flexible Packaging Market will grow lucratively over the coming seven years owing to the surging demand from various end-use sectors such as food and beverage, healthcare, personal care, and industrial. Shifting trends toward convenient packing are influencing the manufacturers to adopt the flexible packaging techniques, driven by its lightweight characteristic.
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Below are the regional highlights positively influencing the global flexible packaging market
• Asia Pacific flexible packaging industry dominated by China and India, contributed noticeably toward the overall share with USD 35 billion in 2015, and is projected to grow at a CAGR of 6% over 2016-2024. Emerging economics along with expanding processed food and pharmaceutical industry are the major factors driving the regional demand.
• Owing to the growing consumer demand for cosmetics and functional food, Europe flexible packaging industry led by Germany and Russia is also forecast to attain heavy gains at a CAGR of 3.5% over the period 2016-2024.
• U.S. flexible packaging market worth over USD 30 billion in 2015, will observe a significant growth driven by the dairy product portfolio expansion, rise in disposable income, and technological innovations in the retail industry.
• Latin America dominated by Argentina and Brazil accounted for a revenue of USD 5 billion in 2015 and is slated to grow at an annual rate of 4% over 2016-2024. E-commerce market expansion triggered by consumer affordability will further propel the regional industry growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Ampac Holdings, LLC
2. Amcor Limited
3. Constantia Flexibles Group GmbH
4. Bemis Company, Inc.
5. Sonoco Products Company
6. Mondi Group
7. Coveris Holdings S.A.
8. Sealed Air Corporation
9. Clondalkin Group Holdings B.V.
10. Wipak Group
11. Bischof + Klein International
12. Goglio Group
13. AR Packaging
14. Schur Flexibles
15. Flair Flexible Packaging Solution
16. Clondalkin Group
17. Südpack Verpackungen
18. Cellpack Packaging
19. ExxonMobil
20. ACTEGA GmbH
21. Berry Plastic Group
22. Bemis Company Inc.
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In terms of products, flexible packaging industry is segmented into standup pouches, pillow pouches, and four side seal pouches. Stand-up pouch is the most preferred product, owing to its versatility in various end-use applications. Stand-up pouches market size is estimated to account for a revenue share of USD 75 billion by 2024 owing to its attributing features such as high barrier properties against oxygen and moisture, low material consumption, and reasonable costs.
Pillow pouch packaging market is also linearly growing with the rising consumption of the product from diary and processed food &beverage industry. It is projected to register an annual growth rate of more than 4% over 2016-2024.
Food and beverage is one of the most prominent sector partaking in the flexible packaging market. It accounted for more than 50% of the total volume in 2015 and is projected to exhibit a substantial growth in the years to come. Upgraded living standards along with shifting consumer preference toward hygiene and food safety are positively influencing the flexible packaging industry share in this sector.
- Flexible Packaging Market By Product
• Pillow pouches
• Stand-up pouches
• For side seal pouches
• Others (Retort pouches, blisters, lidding, portion packs)
- Flexible Packaging Market By Application
• Food & beverage
• Personal care
• Healthcare
• Industrial
• Others (Retail)
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Key industry players will expand their product portfolio and regional presence through strategic collaborations and joint ventures. Amcor Limited, Sonoco Products Company, Constantia Flexibles Group, Sonoco Products Company, Bemis Company, and Huhtamaki Group are some of the major giants in flexible packaging market.
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