Press release
Flexible Plastic Packaging Market Report 2024: Strategies And Recent Developments
Flexible Plastic Packaging Market
The Business Research Company offers in-depth market insights through Flexible Plastic Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The flexible plastic packaging market size has grown strongly in recent years. It will grow from $166.01 billion in 2023 to $174.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to consumer convenience, sustainability concerns, food and beverage industry growth, shelf appeal and branding, transportation and logistics.
The flexible plastic packaging market size is expected to see strong growth in the next few years. It will grow to $219.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to e-commerce and home delivery, convenience features, customization and personalization, reduction of food waste, emerging market growth. Major trends in the forecast period include increasing health and hygiene focus, advanced barrier materials, single-use plastic alternatives, digital printing and labeling, technological advancements.
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Market Segmentation:
The main types of flexible plastic packaging include stand-up pouches, flat pouches, roll stock, gusseted bags, wicketed bags, wraps, and others. Stand-up pouches are also known as doypacks, are soft-sided containers that stand up on their own without any support. Flat pouches can be side welded or bottom sealed and have varieties like back or t-seal, four-side sealed and three-side sealed pouches. Roll stock consists of laminated film in one long, continuous sheet with a sturdy central cardboard having a highly usable structure. Gusseted bags have extra semi-oval shaped indents on both sides of the pouch forming a square or rectangle base, which increases the space of the bag allowing it to accommodate more items. Wicketed bags are stacked plastic bags which are arranged on a wire wicket and held together with rubber washer or a chipboard header. Wraps are tightly fitted flexible plastic used to cover a number of items. The technologies used in flexible plastic packaging includes flexography, rotogravure, digital printing and others. The flexible plastic packaging is used to pack a variety of items such as food, beverage, pharms & health care, personal care & cosmetics.
Major Driver - Processed And Packaged Food Consumption Drives The Flexible Plastic Packaging Market
The increase in consumption of processed and packaged food is drove the growth of the flexible plastic packaging market in the historic period. Packaged foods are food products that have been frozen, canned, cooked, packaged, or changed in nutritional composition and are preserved or fortified in different ways. Food brands are adopting flexible plastic packaging it consists of different types of packages that are easily molded. For instance, in December 2021, According to the Agricultural and Processed Food Products Export Development Authority (APEDA), an-Indian-based government agency, processed food products exports increased from $11,671 million to $ 13,261 million in 2021-22. Therefore, high consumption of processed and packaged food propelled the demand for flexible plastic packaging during the period.
Competitive Landscape:
Major companies operating in the flexible plastic packaging market include Constantia Flexibles International GmbH, Amcor Ltd., Berry Global Inc., Clondalkin Group Holdings BV, ProAmpac Holdings Inc., Coveris Flexibles UK Ltd., Bemis Company Inc., Bischof + Klein SE & Co KG, Aluflexpack AG, Cosmo Films Ltd., C-P Flexible Packaging, Novolex Holdings LLC, Swisspac USA, Ultimate Packaging Pty Ltd., Mondi Group plc, Sonoco Products Company, Sealed Air Corporation, TC Transcontinental Inc., Huhtamaki Oyj, WestRock Company, DS Smith plc, Silgan Holdings Inc., Uflex Ltd., Winpak Ltd., Glenroy Inc., Printpack Inc., Schur Flexibles Group, Huhtamaki PPL Ltd., Novolex Holdings Inc., InterFlex Group Europe Ltd., American Packaging Corporation
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Top Trend - Innovative And Sustainable Packaging Solutions Transforming The Flexible Plastic Packaging Landscape
The launch of innovative packaging to attract more customers and expand the customer base of the company is a key trend in flexible plastic packaging. The companies operating in the flexible packaging market are focusing on manufacturing innovative and sustainable packaging solutions for end-users. For example, in February 2021, FreeForm Packaging AB, a Sweden-based packaging company, launched one-sided stretchable paper laminate, which is based on 85% paper. Stretchable paper laminate has two layers of fiber form, a thin layer of polyethylene is present on one of the layers which protects packaging and content.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Flexible Plastic Packaging Market Characteristics
3. Flexible Plastic Packaging Market Trends And Strategies
4. Flexible Plastic Packaging Market - Macro Economic Scenario
5. Flexible Plastic Packaging Market Size And Growth
…..
27. Flexible Plastic Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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