Industrial Flexible Packaging Market is driven by Rising industrialization in Asian countries
Flexible packaging includes all forms of packaging which are flexible in nature and is produced from paper, plastic, film, aluminum foil, or a combination of these. Some common forms of flexible packaging includes bags, pouches, labels, liners, wraps, rollstock, and other flexible products. This form packaging generally forms acceptance in consumer goods, particularly the Food & Beverage segment. However, some industrial goods are also being packed in flexible packaging in the chemicals and pharmaceuticals, lubricants, bulk food and beverages ingredients industries. With rapid growth in these end use industries the demand for flexible packaging is on the rise, and the global market for industrial flexible packaging is expected to expand with an impressive CAGR over the forecast period.
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Industrial Flexible Packaging: Drivers & Restraints
The major factors boosting the growth of Industrial Flexible Packaging is rising industrialization in Asian countries, and booming chemicals and pharmaceutical industries of the region. Now a days many raw material for these industries comes packed in flexible packaging, amid its lower cost, lower manufacturing cost and packaging time coupled with lighter weight. Its light weight capabilities provides the benefits of reduced logistic cost coupled with ease of transportation. This is enabling many prominent industrial product manufacturers to shift towards flexible packaging, over rigid packaging.
Building and Construction Industry also attracts significant demand for flexible packaging these days, for small and medium volume products. Rising consumerism across the globe and the demand for food and beverage products, is pushing the global food and beverage industry, thus complimenting more demand for its raw materials by F&B manufacturers. These raw material often comes in flexible packaging, generating constantly increasing demand for industrial flexible packaging.
However, environmental concerns regarding the usage of plastic/polymer based packaging is restraining the market, and inclining few manufacturers to shift towards wood and cardboard based non flexible packaging.
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Industrial Flexible Packaging: Market Segmentation
The Industrial Flexible Packaging is segmented into three parts on the basis of material and end use.
Based on Material Type, the Industrial Flexible Packaging is segmented into:
Bases on end use industry, the Industrial Flexible Packaging is segmented into
Oil and Gas
Food & Beverage
Industrial Flexible Packaging: Regional Outlook
Geographically, Industrial Flexible Packaging has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Asia Pacific Exc. Japan has been a global leader in Industrial Flexible Packaging, due to regions rapidly growing pharmaceutical and food and beverage industry. With global companies shifting their manufacturing bases to China and India, demand for industrial packaging in the region is expected to further increase. A large chunk of this growing demand is expected to come from Chemical and Materials Industry. The region is expected to be closely followed by North America, where a prominent share of demand comes from Food & Beverage and Chemical Materials Industry. This can be attributed to the presence of some of the largest chemical companies in United States. Western Europe caters some of the most prominent pharmaceutical companies of the globe, and the regions vast food and beverage industry, is also fuelling more demand for industrial flexible packaging in the region. With rapid industrialization in Latin America and Middle East and Africa, demand for industrial flexible packaging is bound to increase in the region. Japan and South Korea are also prominent markets for industrial flexible packaging, amid presence of some of the global giants in Automotive, Chemical, Pharmaceutical and Electrical and Electronics Industry.
Industrial Flexible Packaging: Key Players
Some of the players identified in Global Industrial Flexible Packaging are:-
Sonoco Products Company
Bemis Company, Inc
Berry Plastics Group, Inc.
Novolex – Carlyle Group
Bischof + Klein SE & Co.
Coveris Holdings S.A.
Cosmo Films Limited
Reynolds Group Holdings Limited
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