A research report on the global flexible packaging market, published by Transparency Market Research (TMR), estimates it to expand at a CAGR of 4.40% during the period from 2013 and 2019.The research report is titled “Flexible Packaging Market for Food & Beverages, Retail Non-Food, Pharmaceutical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”
Browse the full Flexible Packaging (Plastic, Paper, Aluminum Foil and Others) Market for Food & Beverages, Retail Non-Food, Pharmaceutical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/flexible-packaging-industry.html
A package or a packaging container that can alter its shape easily when filled with goods can be referred as flexible packaging. It is widely utilized for consumer as well as institutional products and in various industrial applications to package and distribute a varied range of products.
The flexible packaging market has emerged as the most rapidly rising segment in the overall packaging industry. The market is projected to increase from US$73.5 bn in 2012 to US$99.1 bn the end of the forecast period. The rising demand for flexible packaging products from the food and beverages and the pharmaceutical industry is boosting this market significantly.
In this report, the global market for flexible packaging has been studied on the basis of the product, application, and the region. Aluminum, plastic, paper, and cellulosic packaging have been identified as the major products available in this market. In 2012, the plastic packaging segment dominated the overall market with a share of 70%.
The cost-efficiency and durability offered by plastics have been boosting demand for plastic flexible packaging across the world. However, the implementation of stringent rules and regulations by several governments and the increasing concerns over environmental issue pertaining to carbon emissions are likely to reduce the usage of plastic for packaging goods over the forecast period. As a result, the demand for cellulosic packaging products is projected to exceed the demand for plastic packaging products in the coming years, notes the research study.
Based on the application, the report has classified this market into food and beverages, pharmaceuticals, retail non-food items, and other applications such as packaging of industrial machines and vending machines.
The food and beverages segment has emerged as the biggest consumer of flexible packaging in the recent past, owing to the increasing demand for packaged food across the world. However, the demand for flexible packaging is projected to increase rapidly in the pharmaceuticals segment over the forecast period, establishing it as the largest application segment, states the report.
Geographically, the worldwide market for flexible packaging has been segmented into Europe, Asia Pacific, North America, and the Rest of the World. Asia Pacific led the global market in 2012. The growing population base and the rapid rise in the disposable income of people in this region have boosted the demand for packaged beverages, food items, pharmaceuticals products, and personal care products, resulting in a significant rise of the flexible packaging market in Asia Pacific.
Analysts predict this regional market to rise at a CAGR of 4.40% during the forecast period. Asia Pacific is thus expected to retain its dominance in the market over the report’s forecast period. India and China are likely to drive the demand for flexible packaging in this region. The markets for flexible packaging in North America and Europe are also expected to register healthy growth, states the research report.
A competitive analysis of the global flexible packaging market has also been presented in this report. Analysts have evaluated major participants in this market to determine the current market hierarchy. Wipak Group, Ukrplastic, Sonoco Products Co., Sealed Air Corp., Mondi Plc, Huhtamaki Oyj, Flextrus AB, Constantia Flexibles International GmbH, Bischof + Klein SE & Co. KG, Bemis Co. Inc., Ampac Holding, and Amcor Ltd. are the leading market players, profiled in this research study.
The global flexible packaging market is segmented into:
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