Press release
Booming Flexible packaging market trends in the food & beverages sector, forecast report by 2024
Superior sealing, lightweight, enhanced elasticity, aesthetic appeal, thermal insulation, reduced wastage, and barrier against moisture are some the beneficial characteristics that are expected to boost flexible packaging market size. User-friendly features such as zip locks, spouts, and re-sealable seals have enhanced the popularity of flexible packaging products among consumers.
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Taking into consideration the regional trends, Europe flexible packaging industry is predicted to record a CAGR of 3.5% over 2016-2024. High preference for cosmetics, retail goods, and processed food will push the revenue. Germany and Russia are likely to drive the regional growth.
Rapidly expanding e-commerce sector across Vietnam, China, and India is anticipated to contribute significantly towards APAC flexible packaging market revenue, which earned a revenue of USD 35 billion in 2015. The industry is projected to register a CAGR of 6% over 2016-2024.
U.S. market, which was estimated at USD 30 billion in 2015, is projected to fuel North America flexible packaging industry growth. The swiftly expanding medical and confectionary sectors across the region are forecast to make substantial contributions towards the overall share.
Based on the materials, the industry is segmented into cellulosic, polymer, aluminum, and paper packaging materials. Polymer flexible packaging market, which accounted for a major share of the overall industry share in 2015, is expected to grow considerably over the years to come. High material demand subject to the properties of longer shelf life and cost effectiveness will push the revenue. Paper packaging market size, which recorded USD 15 billion in 2015, is also expected to expand strikingly. Rising utilization across the medical and pharmaceuticals sectors will lift the growth.
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Stand-up pouch is majorly preferred products because owing to its versatility in various end-user industry. Stand-up pouches market size is estimated to be valued over USD 75 billion by 2024. High barrier against moisture & oxygen, low material consumption and low costs are the factors positively influencing the product demand. Pillow pouches will witness over 4% CAGR up to 2024. Rising demand from dairy products owing to better sealing, ease in transportation and cost effective properties has favored industry growth in this segment.
Four side seal pouches, pillow pouches, and stand up pouches are the major flexible packaging products. Stand up pouches are slated to collect a revenue of over USD 75 billion by 2024, driven by its reduced cost, high barrier features, and low material usage. Pillow pouches are likely to record a CAGR of 4% over 2016-2024 subject to high product preference from the dairy sector.
Browse Complete Summary Of This Report Titled "Flexible Packaging Market Size By Material (Polymer [PE, PP, PET], Paper, Aluminum, Cellulosic), By Product (Pillow Pouches, Stand-up Pouches, Four Side Seal Pouches), By Application (Food & Beverage, Personal Care, Healthcare, Industrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, South Korea, Japan, Indonesia, Malaysia, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024"
https://www.gminsights.com/industry-analysis/flexible-packaging-market
Amcor Limited, Clondalkin Group Holdings B.V., Ampac Holdings LLC, and Mondi Plc are some of the key participants of flexible packaging market.
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