Industrial Flexible Packaging: Overview
Flexible packaging includes all forms of packaging which are flexible in nature and is produced from paper, plastic, film, aluminum foil, or a combination of these. Some common forms of flexible packaging includes bags, pouches, labels, liners, wraps, rollstock, and other flexible products. This form packaging generally forms acceptance in consumer goods, particularly the Food & Beverage segment. However, some industrial goods are also being packed in flexible packaging in the chemicals and pharmaceuticals, lubricants, bulk food and beverages ingredients industries. With rapid growth in these end use industries the demand for flexible packaging is on the rise, and the global market for industrial flexible packaging is expected to expand with an impressive CAGR over the forecast period.
Industrial Flexible Packaging: Drivers & Restraints
The major factors boosting the growth of Industrial Flexible Packaging is rising industrialization in Asian countries, and booming chemicals and pharmaceutical industries of the region. Now a days many raw material for these industries comes packed in flexible packaging, amid its lower cost, lower manufacturing cost and packaging time coupled with lighter weight. Its light weight capabilities provides the benefits of reduced logistic cost coupled with ease of transportation. This is enabling many prominent industrial product manufacturers to shift towards flexible packaging, over rigid packaging.
Building and Construction Industry also attracts significant demand for flexible packaging these days, for small and medium volume products. Rising consumerism across the globe and the demand for food and beverage products, is pushing the global food and beverage industry, thus complimenting more demand for its raw materials by F&B manufacturers. These raw material often comes in flexible packaging, generating constantly increasing demand for industrial flexible packaging.
However, environmental concerns regarding the usage of plastic/polymer based packaging is restraining the market, and inclining few manufacturers to shift towards wood and cardboard based non flexible packaging.
Industrial Flexible Packaging: Market Segmentation
The Industrial Flexible Packaging is segmented into three parts on the basis of material and end use.
Based on Material Type, the Industrial Flexible Packaging is segmented into:
- Plastic Films
- Aluminum Foil
- Bio Plastic
Bases on end use industry, the Industrial Flexible Packaging is segmented into
- Oil and Gas
- Food & Beverage
- Other Manufacturing
Industrial Flexible Packaging: Regional Outlook
Geographically, Industrial Flexible Packaging has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Asia Pacific Exc. Japan has been a global leader in Industrial Flexible Packaging, due to regions rapidly growing pharmaceutical and food and beverage industry. With global companies shifting their manufacturing bases to China and India, demand for industrial packaging in the region is expected to further increase. A large chunk of this growing demand is expected to come from Chemical and Materials Industry. The region is expected to be closely followed by North America, where a prominent share of demand comes from Food & Beverage and Chemical Materials Industry. This can be attributed to the presence of some of the largest chemical companies in United States.
Western Europe caters some of the most prominent pharmaceutical companies of the globe, and the regions vast food and beverage industry, is also fuelling more demand for industrial flexible packaging in the region. With rapid industrialization in Latin America and Middle East and Africa, demand for industrial flexible packaging is bound to increase in the region. Japan and South Korea are also prominent markets for industrial flexible packaging, amid presence of some of the global giants in Automotive, Chemical, Pharmaceutical and Electrical and Electronics Industry.
Industrial Flexible Packaging: Key Players
Some of the players identified in Global Industrial Flexible Packaging are:-
- Sonoco Products Company
- Bemis Company, Inc
- Berry Plastics Group, Inc.
- Novolex – Carlyle Group
- Bischof + Klein SE & Co.
- Coveris Holdings S.A.
- Huhtamäki Oyj
- Cosmo Films Limited
- Reynolds Group Holdings Limited
- Clondalkin Group Holdings BV
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.
2. Insights and Tools
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.
3. Actionable Results
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.