Global Flexible Plastic Packaging Market: Overview
Overhauling of packaging standards in the food and beverages industry is a prominent global trend. The sale of several food products hinges on proper packaging and sealing. Sellers are required to prompt consumers towards looking into a product. Attractive designs of food packets play an important role to this end. It is expected that the global flexible plastic packaging market would grow hand in hand with improvements in food packaging standards.
Flexible plastic packaging offers multiple benefits to manufacturers as well as sellers. It allows the former to minimize cost of packaging by replacing hard plastic boxes with soft and flexible ones. At the consumers’ end, flexible plastic wrappers and bags are easy to carry and can fit into constrained spaces. The dual benefits served by flexible plastic packaging play an integral role in ensuring a regular inflow of market revenues.
A large number of food products are available in multiple forms of packaging. To exemplify, chocolate packs are available in hard plastic boxes as well flexible pouches. The use of flexible pouches for packaging of chocolates, soft drinks, and dry fruits is a nascent trend. Innovation in the packaging industry have led to the development of fresh designs of flexible plastic packets.
Analysts at Transparency Market Research (TMR) decode the key trends and growth opportunities floating in the global flexible plastic packaging market. The global flexible plastic packaging market is segmented on the basis of the following parameters: material, type, and application. On the basis of type, stand-up pouches are garnering the attention of beverage sellers.
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Global Flexible Plastic Packaging Market: Notable Developments
The strategies of vendors operating in the global flexible plastic packaging market are largely influenced by the following notable developments:
- The UK Packaging Awards 2019, an initiative by ‘PackagingNews’, released its shortlist on the flexible plastic packaging category. Asda One Touch Modified Atmosphere Packaging (MAP) and Amcor AmLite Standard Recyclable are two products that have made it to the list. This initiative has helped in popularising several products that could gain traction from food manufacturers.
- Marks and Spencer (M&S) launched its eco-friendly bags that are made from recycled plastic. The company claims to have used ‘social’ plastic, a material that prevents pollution and environmental degradation. The global flexible plastic packaging market could leap forward in the domain of sustainable packaging through such moves.
Some other notable players in the global flexible plastic packaging market are:
- Sealed Air Corporation
- Sigma Plastics Group
- Coveris Holding S.A.
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Global Flexible Plastic Packaging Market: Growth Drivers
- Growth of Bilateral Trade
Increase in the annual volume of imports and exports across several regions has given a thrust to market growth. Bilateral trade of staple food items across neighbouring countries has become a goldmine for vendors in the global flexible plastic packaging market.
- Need for Protection against Contaminants
As packaged food products gain popularity, the need for resistant and safe packaging standards has increased. Hence, flexible plastic packaging is expected to gain from the growing need for protecting packaged food against contaminants.
Global Flexible Plastic Packaging Market: Regional Outlook
The presence of robust supply chains for distributing food products has become a flashpoint for the US food market. This factor has given an impetus to the growth of the flexible plastic packaging market in North America. Furthermore, the market in Asia Pacific could expand alongside growing use of plastics in food packaging.
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