Flexible Packaging Market 2020 | Top Players are Constantia Flexibles, Mondi Group, Amcor, Bemis Company Inc., ExxonMobil, Sealed Air Corporation
Global Flexible Packaging Market size was estimated at USD 150 billion in 2015 and is projected to surpass USD 250 Billion by the year 2024.
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Based on the product segmentation, pillow pouches are projected to accrue noticeable gains in the upcoming years owing to the economical, higher filling capacity, and other characteristics of the product. Burgeoning product demands from the food industry would complement the business dynamics across the food and beverage industry.
Considering the material gamut, flexible packaging market is divided into polymer, aluminum, cellulosic, and paper material. Polymer material among these will gain massive traction through 2024, ascribed to the material's superior high temperature properties, high strength, and oxygen and carbon dioxide barrier properties. Moreover, sliding preferences of the developers towards the material are likely to drive the product demand over the course of time.
According to credible sources, the polymer material segment held over 70 per cent of the global flexible packaging market share and is probable to grow at a CAGR of 5.5 per cent through 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o Ampac Holdings LLC
o Amcor Limited
o Constantia Flexibles Group GmbH
o Bemis Company Inc.
o Sonoco Products Company
o Mondi Group
o Coveris Holdings S.A.
o Sealed Air Corporation
o Clondalkin Group Holdings B.V.
o Wipak Group
o Bischof + Klein International
o Goglio Group
o AR Packaging
o Schur Flexibles
o Flair Flexible Packaging Solution
o Clondalkin Group
o S?dpack Verpackungen
o Cellpack Packaging
o ACTEGA GmbH
o Berry Plastic Group
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With respect to types of flexible packaging, the industry is segmented into four side seal pouches, stand-up pouches, and pillow pouches. Stand-up pouches are gaining widespread popularity due to their widespread use in several end-user industries. Stand-up pouches market share is expected to be valued at more than USD 75 billion over the forecasted timeframe. Superior protection against oxygen and moisture, reduced cost and low material consumption are some of the integral characteristics supporting the use of the product.
On the other hand, rise in dairy consumption across the globe is steering the demand for pillow pouches to facilitate enhanced sealing abilities, cost-effectiveness, and ease in transportation. By 2024, pillow pouches demand will observe gains of more than 4%.
Apart from providing simplified transportation solutions and preserving the shelf life, flexible packaging plays a vital role in enhancing the market adaptability of the product. The packaging materials may be printed on using innovative techniques or with designs that improve the appearance of the item and attracts potential consumers. In a nutshell, the material plays an important role in optimizing various goals of packaging like product protection, branding, sustainability, and shelf appeal.
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