Global Flexible Plastic Packaging Market: Overview
Increased awareness about health has escalated demand for flexible plastics in the pharmaceutical packaging industry are likely to generate considerable growth opportunities for the global flexible plastic packaging market. In addition, convenient packaging has gained substantial traction in recent years, which stimulates growth of the global flexible plastic packaging market.
Flexible plastic packaging is plays a vital role in the keeping packaged content fresh and safe. The global flexible plastic packaging market gathers momentum from its popularity in the packaging of frozen food, where it helps in prolonged storage of food items. Flexible plastic packaging solutions are widely used for packaging of products like baked goods & snacks, tea, beverage & juices, confectionery & chocolate, and many other edible items.
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Global Flexible Plastic Packaging Market: Notable Developments
A significant development that gives a glimpse of the changing market dynamics in the global flexible plastic packaging market is mentioned below:
- In March 2018, Vienna-based Constantia Flexibles Group made an acquisition of Creative Polypack Limited. The latter is based out of India and makes film-based flexible packaging for home and personal care and food and beverage industry. Post acquisition, it is likely that products of Constantia Flexibles Group will have better access to the Indian market in times to come.
Some of the well-known organizations operating in the global flexible plastic packaging market are as mentioned below:
- Amcor plc
- Clondalkin Group Holdings B.V.
- AR Packaging Group AB
- Sonoco Products Company
- Constantia Flexibles Group
- Bischof & Klein GmbH & Co. KG
Global Flexible Plastic Packaging Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global flexible plastic packaging market during the period of assessment, from 2019 to 2027.
Burgeoning Demand for Packaged Food and Beverage Items to Bolster Demand in the Market
Increased demand for these products like flat pouches and stand-up pouches is propelling growth of the global flexible plastic packaging market in years to come. In a bid to obtain upperhand and stand out in the competitive landscape of the global flexible plastic packaging market, food and beverage producers opt for stand-up pouches. Stand up pouches are flexible enough to be customized into different sizes, styles, and designs.
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Various environment regulatory organizations like the Environmental Protection Agency (EPA) have come up with many regulations such as introduction of integrated solutions that mandates reduce, reuse, and recycle in the US. These regulations are formulated to govern the global flexible plastic packaging market. These regulatory bodies formulate guidelines and set a standard for synthetic fibers, plastics, and organic chemicals. Discharge of plastic products form an integral and crucial consideration for such decisions. Such regulations compel market players to stick to the guidelines, which paves way for environment friendly and sustainable use of flexible plastics.
The global flexible plastic packaging market gained momentum from its expensive use in various healthcare applications. The benefits of flexible plastic packaging solutions include smaller space occupancy both in display and retail shelves. The trend of see-through packaging has gained recent popularity and significance. These see-through packaging solutions offer a view of color and other physical properties of contents packed inside. This acts as an encouragement for buying the product and boosts growth of the global flexible plastic packaging market.
Global Flexible Plastic Packaging Market: Geographical Analysis
The regional evaluation of the global flexible plastic packaging market has led to the segmentation of the market into Europe, Middle East and Africa, North America, Latin America, and Asia Pacific.
According to regional analysis, the Asia Pacific is likely to account for a considerable chunk of the global flexible plastic packaging market in years to come. Countries like Japan, India, and China are likely to spearhead growth of the market owing to huge volume of export in different parts of the world. Increased inclination toward consumption of packaged food and beverage items is anticipated to support the growth of the global flexible plastic packaging market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.