Press release
Flexible Packaging Market To Reach A Valuation Of US$ 535 Bn By 2027
Flexible Packaging Market - An Overview
Flexible packaging is a format that is made up of various materials such as plastic, paper, metal, etc., and has the barrier property to protect products from contamination and the external environment. Flexible packaging is widely preferred due to its properties such as cost-effectiveness, durability, and light weight. There is the use of a wide variety of plastic polymers that include polypropylene, polyethylene, polyester, and nylon in producing films for flexible packaging. These plastic films are used to create products such pouches, bags, and other flexible products.
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Asia Pacific (APAC) Region to Witness Growth Opportunities
The flexible packaging market in Asia Pacific is estimated to hold a dominant position in terms of market share, estimated to be ~41% in 2019 and ~45% by the end of the forecast period in the global flexible packaging market. China and India, together, are projected to account for ~57% of the APAC flexible packaging market in 2019. In the APAC region, India & China are the highly emerging markets for the extended growth of the flexible packaging market. The need for convenience packaging is the ongoing trend in the flexible packaging market in the Asia Pacific region.
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The packaging type that can increase the barrier property against the external environment, along with providing sustainability, raises the sales of flexible packaging in the market.North America holds approximately one-fourth of the global flexible packaging market share. However, it is expected to experience less growth as compared to the market in the APAC region over the forecast period.
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Global Flexible Packaging Market: Competition Landscape
In the global market report on flexible packaging, a detailed competition landscape is discussed. Some of the key players in the global flexible packaging market that are included in the report are Amcor plc, Winpak Ltd., Sealed Air Corp, Sonoco Products Company, Berry Global Group, Inc., DS Smith Plc, and Coveris Holdings S.A.. These are the market leaders with a combined market share of ~5% of the global flexible packaging market.
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