Flexible Packaging Market 2018-2023 | USD 342.85 billion at CAGR of 5.92% - Global Forecast By MRFR

Global Flexible Packaging Market: By Material (Plastic, Paper, Aluminum), Products (Pouches, Bags, Wraps), Printing Technology (Flexography, Digital Printing), Application (Pharmaceutical, Food & Beverages, Personal Care) And Region - Forecast Till 2023

Market Scenario:

Flexible packaging is a rapidly growing segment in the global packaging industry, and it integrates the best qualities of plastic film, aluminum foil, and paper to offer a wide range of protective properties. It can take the shape of a bag, pouch, or any part of a package whose shape can be readily changed. Such packaging is used for various products in consumer as well as industrial applications to protect, market, and distribute a variety of products.

According to the MRFR analysis, the flexible packaging market is swelling at a rapid pace and is anticipated to increase significantly over the forecast period. The global flexible packaging market is estimated to grow at a CAGR of 5.92% during the estimated period (2017-2023).

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The flexible packaging market is compelled by several factors such as increased consumption of packed and wrapped foods & beverages. Moreover, environmental benefits of flexible packaging are also stimulating the growth of the market. Flexible packaging contains low raw material consumption, low carbon emission, and comparatively low waste production as compared to conventional packaging formats. It reduces energy usage. For e.g., to produce a pouch for food package needs 75% less energy and produces just 1 /10 of CO2 emissions during manufacturing than a metal can for the equivalent amount of product.

On the basis of the regions, the global flexible packaging market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region accounted for the 29.41% share of the market in 2016, in terms of value. It is expected to grow at a CAGR of 6.18% during the forecast period. Exponential growth in the packaging industry in Asia Pacific region is the key factor fueling the growth of the market. Increasing number of a supermarket in the region is also likely to boost the demand for flexible packaging products. China, India, Japan, and Thailand are the main contributor to the Asia Pacific market. China accounts for the largest market share in the region due to rapid urbanization and industrial development.

North America is another major flexible packaging market in the globe. Expansion in confectionery, dairy, and medical industry, technological advancement in barrier materials coupled with rising retail business, stand up pouches usage are likely to trigger the industrial growth.

High growth in the retail as well as the pharmaceutical industry is driving the growth of the North American market. Moreover, the region is the hub of major flexible packaging manufacturers such as Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), and Bemis Company Inc. among others. The U.S. accounted for the major share of the North American market.

The prominent players in the flexible packaging include Amcor Limited (Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.), and Ampac Holdings LLC (U.S.).

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Industry News:

On October 2016, Coveris launched Nextrus Boneless Shrink bags so as to offer innovation in sustainability and performance of the products.

In 2016, Hutamaki acquired FIOMO who is a manufacturer of flexible packaging foils and labels. By acquiring FIOMO, Hutamaki would expand its flexible packaging manufacturing in Europe and will be able to offer high quality off-set printing capabilities.

On April 29, 2016, Bemis Company Inc. acquired medical device packaging operation of SteriPack Group. This acquisition will diversify their presence in Ireland as well as packaging production assets in Malaysia and the U.S.

On 1st December 2015, Flair Flexible Packaging Corporation acquired NuPack Corporation (NuPack), so as to strengthen the flair’s approach in integrated supplier in the industry

Flexible packaging Market – Segments

For the convenience of the report and enhanced understanding; The Flexible packaging Market is segmented in to 3key dynamics
Segmentation by Material – Plastic, Paper, Aluminum and Others
Segmentation by Product – Bags, Pouches, Wraps and Others
Segmentation by Printing Technology: Flexography, Digital Printing and Others
Segmentation by Application: Food & Beverages, Pharmaceuticals, Personal Care and Others
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Flexible packaging Market – Competitive Analysis

Flexible packaging market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, manufacturers strive to develop products that can deliver optimal adhesion, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality.

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Table Of Content :

1 Executive Summary
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Flexible Packaging Market, By Material
7 Global Flexible Packaging Market, By Product
9 Global Flexible Packaging Market, By Application
10 Global Flexible Packaging Market, By Region
Continues...

List Of Tables

Table 1 Market Synopsis
Table 2 Gdp Per Capita In Developing Nations (Usd)
Table 3 Global Flexible Packaging Market, By Material, 2015–2023 (Usd Billion)
Table 4 Global Flexible Packaging Market, By Product, 2015–2023 (Usd Billion)
Table 5 Global Flexible Packaging Market, By Printing Technology, 2015–2023 (Usd Billion)
Table 6 Global Flexible Packaging Market, By Application, 2015–2023 (Usd Billion)
Table 7 Global Flexible Packaging Market, By Region, 2015–2023 (Usd Billion)
Continues...

List Of Figures

Figure 1 Research Process Of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Drivers, Restraints And Trends Of Global Flexible Packaging Market
Figure 4 Groth Rate Of Beverage Packaging, By Region, 2012-2017 (%)
Figure 5 Growth Drivers: Impact Analysis
Figure 6 Growth Barriers: Impact Analysis
Figure 7 Porter's 5 Forces Analysis Of Global Flexible Packaging Market
Figure 8 Global Flexible Packaging Market Size, By Material, 2015-2023 (Usd Billion)

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