Flexible Packaging Market worth $315.5 billion by 2027 | Key players Huhtamaki Oyj, Berry Global Group Inc., Amcor Limited., Mondi Group, Westrock Company.

According to recent market research the "Flexible Packaging Market by Packaging Type (Pouches, Bags, Roll Stock, Films & Wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), End-user Industry, Material (Paper, Plastic, Metal) and Region - Global Forecast to 2027" published by MarketsandMarkets, the Growing demand of consumer for packaged, processed food and beverages items such as meat, snacks, namkeen, milk, yogurt, coffee, tea, ketchup, biscuits, and other food items, rising urbanization, changing lifestyles, rising disposable income, rising trends towards sustainable packaging, increasing awareness towards hygiene across the globe are boosting the growth of flexible packaging market. However, the high cost of raw materials which are required for making flexible packaging products such as pouches, bags, roll stock, films & wraps, and others, and poor recycling infrastructure are the factors expected to clog the market of flexible packaging. Opportunities in the flexible packaging market are the growing demand for sustainable packaging and better substitute for traditional packaging materials because of increasing awareness about hygiene. Moreover, rapid changes in technology are the major challenge for the flexible packaging market.

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Flexible pouches are frequently constructed of plastic, metal foil, and occasionally paper. They are widely used for packaging everything from industrial liquids to snack foods, and they may be found on store shelves all around the world. These pouches nowadays are very popular in the flexible packaging market because of their excellent properties such as reusability, eco-friendly, lower carbon footprint, taking less space, and being cheaper than other alternatives like glass, metal, and cardboard containers.

Flexible plastic packaging offers a wide variety of protective qualities while assuring a lower amount of possible material. They are used to market, protect, and distribute a wide range of items for both industrial and consumer uses. The flexible plastic packaging market is expanding at a higher rate than its counterpart, rigid plastic packaging, serving a variety of functions from raising shelf life and maintaining food safety to offering barrier protection from heat and pathogens, oxygen, moisture, and other external agents.

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Because of growing developmental activities and, rapid economic expansion, and increasing population in the Asia Pacific region presents a huge customer base for FMCG products and food & beverages, which, in turn, is expected to lead the growth of the flexible packaging market. Owing to the increasing income of people in this region, the demand for high-end packaging products for food, beverage, and healthcare has been proliferating. Apart from the food & beverage industry, the APAC region also exhibits significant opportunities in the packaging & labeling industry, which is expected to drive the flexible packaging market.

The Flexible Packaging Market comprises major players such as Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), Amcor Limited. (Australia), Mondi Group (UK), Sonoco Products Company (US), Westrock Company (US), Constantia Flexibles (Austria), Sealed Air Corporation (US), Transcontinental Inc (Canada), DS Smith (UK), and others are covered in the flexible packaging market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Flexible Packaging Market.

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The key players of flexible packaging are focusing on expanding their production capacity to gain economies of scale and achieve competitive advantage to serve customers more effectively. The companies such as Mondi Group (South Africa) launched a new industrial bag plant at Sulaimaniyah, Iraq. The plant will produce specialized valve bags for the cement and building material industries and will help them to emerge in Iraq's market.

The highly fragmented market structure drives the companies to consistently stay competitive by developing innovative products and building economies of scale thereby driving down the costs. It is imperative for key companies to have presence in important regions to leverage existing relations with its customers base and venture into new markets. The threat of new entrants is low for this market. The low cost of raw materials and manufacturing plants is driving the entry of new players in this market.

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