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Flexible Packaging Market: New Study Offers Insights for 2015 – 2023
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Global Flexible Packaging Market Information by Material (Plastic, Paper, Aluminum, and others), by Products (Pouches, Bags, Wraps, and others), by Printing Technology (Flexography, Digital printing, and others), by Application (Pharmaceutical, Food & Beverages, Personal Care, and others) and Region - Forecast to 2023.
The growth of flexible packaging market is influenced by increased consumption of processed foods & beverages, innovation in packaging and environmental advantage of such packaging. However, fluctuation in raw material prices and stringent regulations on packaging material waste and recycling expected to hinder the growth of the flexible packaging market.
Rise in demand for packaged foods & beverages including ready-to-eat meals, frozen meals, and snack foods. Increase in consumer income in countries such as China, India, and Brazil, has led to a growth in demand for good-quality packaged food. Technological advancements in packaging plays a vital role in driving the growth of flexible packaging market. Advanced technology in packaging has allowed companies for innovation in products instead of sticking to traditional methods of packaging.
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The report has analyzed the market based on the four segments: material, product, printing technology, and application in the regions of North America, Europe, Asia-Pacific and rest of the world. On the basis of material it includes plastic, paper, aluminum, and other. Plastic accounts for a strong demand from the food and beverages industry in terms of packaging. On the basis of product it includes pouches, bags, wraps, and others. On the basis of printing technology, it is segmented as flexography, digital printing, and others. Moreover on the basis of application it includes food & beverages, pharmaceutical, personal care, and others. Food & beverage dominated the market by application. The global flexible packaging market is expected to reach USD 342.85 Billion at the end of the forecasted period and is expected to grow at CAGR of 5.92% from 2017 to 2023.
Market Synopsis of Flexible Packaging Market
Globally, flexible packaging market is growing due to growing demand from food & beverages industry and innovation in packaging products. Factors driving flexible packaging market are its light weight, recyclable characteristics and feasible for usage. Many manufacturing industries are shifting to flexible packaging as there is growing demand by consumers.
The market for global flexible packaging is segmented in mainly four segment namely, material, product, printing technology, and application. Market Segmentation by material includes – plastic, paper, aluminum, and others. Market categorization on basis of product includes pouches, bags, wraps, and others. On the basis of printing technology, it is segmented as flexography, digital printing, and others, Furthermore, on the basis of application the market of flexible packaging is segmented as food & beverages, pharmaceuticals, personal care, other industries. The market for flexible packaging is expected to grow at 5.92% CAGR (2017-2023).
Regional Analysis of Global Flexible Packaging Market
Asia-pacific dominates the global flexible packaging market with the largest market share, of 31.72% in 2016. The booming e-commerce market in the region is also contributing to the growth of the flexible packaging market. The e-commerce market is boosted by the increasing internet penetration. North-America is expected to grow at 6% CAGR during the forecast period.
The report for Global Flexible Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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