Flexible Plastic Packaging Market - Challenges and Opportunities to 2029
The global flexible plastic packaging market is all set to register high growth trajectory during the forecast period of 2019 to 2029. This growth is attributed to increased use of flexible plastic packaging in various end-user industries such as personal care, healthcare, and food and beverages. In recent years, there is increase in use of flexible plastics in pharmaceutical packaging. Key reasons for this shift is growing awareness among consumers regarding health and increased popularity of convenient packaging. These factors are driving the global flexible plastic packaging market.
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The segmentation of the global flexible plastic packaging market is performed on the basis of type, material, application, and region.
Global Flexible Plastic Packaging Market: Growth Dynamics
Flexible plastic packaging is gaining traction of major enterprises working in the food and beverages industry. Key reason for this popularity is the ability of this packaging system to secure the products in it. The global flexible plastic packaging market finds demand avenues from the manufacturers of food and beverage products including tea, coffee, chilled food, confectionery and chocolate, dried food and mixes, baked goods and snacks, sauces and condiments, and beverage and juices. This signifies the potential expansion avenues for the players working in the market for flexible plastic packaging.
Flexible plastic packaging allows for reviewing physical properties of product in it. This helps customer to see the color of food products and personal care products before purchasing. With this trend on rise, the world is witnessing increased demand for see-through packaging. Besides, flexible plastic packaging is widely accepted owing to its feature of utilizing less space on retail shelves or displays. As a result, the global flexible plastic packaging market is gaining substantial growth avenues from the healthcare sector.
Global Flexible Plastic Packaging Market: Competitive Analysis
The flexible plastic packaging market is moderately fragmented in nature. Presence of many well-established players connotes that the competitive landscape of the market for flexible plastic packaging is highly intense. To withstand in aggressive competition, enterprises in the flexible plastic packaging market are using diverse strategies including product launches, partnerships, and collaborations.
Major companies working in the global flexible plastic packaging market are focused on research and development activities. The key motive of this move is to advance the quality of products they offer. Apart from this, this move is allows them to offer innovative products. Owing to all these factors, the global flexible plastic packaging market is projected to show remarkable growth during the forecast period of 2019 to 2027.
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The list of important players in the global flexible plastic packaging market includes:
Sealed Air Corporation
Sigma Plastics Group
Coveris Holding S.A.
Constantia Flexibles Group
Global Flexible Plastic Packaging Market: Regional Assessment
The global flexible plastic packaging market is spread across five key regions, namely, North America, Central and South America, Europe, Asia Pacific, and Middle East and Africa. Of them, Asia Pacific is one of the prominent regions in the market for flexible plastic packaging. Key reason for this growth is the rising demand for flexible packaging solutions in the region. In addition to this, the improved disposable income of major population from this region is boosting the flexible plastic packaging market growth.
China is one of the key countries contributing to the growth of the flexible plastic packaging market. The country holds remarkable demand potential owing to growth in the production, imports and exports, and use of products including medicines and food and beverages.
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