Flexible Packaging Market Trend, Share, Growth, Size, Analysis and Forecast 2030

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Packaging can be referred to as the process of covering, casing, and securing any type of products from any external damage. Packaged items are available for storage, sale, and usage in many retail outlets, supermarkets, and hypermarkets. Flexible packaging is the method of packaging materials that when packed, can be readily changed into various shapes. The different shapes can be achieved by paper, plastic film, foil, or the grouping of the listed items. Basically, papers, plastics, foams, and foils are the crucial products of flexible packaging products whose shape, size, and structure can be easily produced. Moreover, flexible packaging is considered the most cost-effective way to package, safeguard, and dispense food, beverages, and other consumer usable products that need a longer shelf life.

Flexible packaging market is experiencing the highest growth rate in developed as well as developing countries. The advancements of technology in flexible packaging have resulted in upgradation and innovation in the product development in many sectors of the industry. Many organizations are significantly investing their capital in research and development in order to come up with the exclusive and economical products. Hence, the innovations, particularly in the packaging industry are rising exponentially. In July 2017, the American Packaging Company made investments in a digital system. That system was designed to serve the purpose for flexible packaging to enable greater choice of products from consumer’s point of view. In addition, the rising middle-class population followed by the significant change in their lifestyle is contributing to the growth of the market. This has led to the ever increasing and growing need of the consumers. In the modern world, there has been a rising consumption of food among the population. So, consumers prefer an easy, simplistic, and convenient method of packaging those food products which are basically ready to eat or ready to serve. Hence, such factors are contributing to the flexible packaging market growth over the forecast period.   

Based on material, the flexible packaging market is segmented into flexible foam, aluminum foil, paper, and plastic. On the basis of the product, the market is categorized into bags, wraps, and pouches. Based on end-user, the flexible packaging market is bifurcated into pharmaceuticals, food, household cosmetics & personal care, and others. 

The Asia Pacific held major revenue share of the global flexible packaging market in 2017 and the region is expected to continue with its regional superiority over the forecast period. The growth of this regional market is attributed due to the rising demand of the food industry. This factor is anticipated to further drive the industry growth in the region over the forecast period. Europe is predicted to provide significant opportunities for the flexible packaging market. The growth is anticipated in the region due to the growing demand for the cosmetic and processed food products among the population. Such factors are expected to drive flexible packaging market growth over the forecast timeframe.  

Some of the industry players operating in the flexible packaging market are Constantia Flexible Group GmbH, Mondi Group, Sealed Air Corporation, Bemis Company, Inc., Clondalkin Group Holdings B.V., Sonoco Products Company, Amcor Limited, Coveris Holdings S.A., Huhtamaki Group, Ampac Holdings LLC, and others.