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Flexible Plastic Packaging Market 2023 Accounted For USD 129 Bn at CAGR of 5.2% : MRFR Analysis

Flexible Plastic Packaging Market 2023 Accounted For USD 129 Bn at CAGR of 5.2% : MRFR Analysis

Market Research Future published a research report on “Global Flexible Plastic Packaging Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Flexible Plastic Packaging Market, By Type (Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others), By Printing Technology (Flexography, Digital Printing and Others), By Application (Food & Beverages, Pharmaceuticals, Personal Care and Others) and Region – Forecast 2016-2022.          

 

Synopsis of Flexible Plastic Packaging Market:

Flexible packaging is one of the fastest growing segments of the packaging industry, and it integrates the best qualities of plastic, film, paper and aluminium foil to offer an extensive range of protective properties. It essentially takes the shape of a bag, pouch, liner, or overwrap, or any part of a package whose shape can readily be changed. Such packaging is used for consumer products and in industrial applications, to protect, market, and distribute a variety of products.

The market is driven by various factors such as increased consumption of processed foods & beverages, innovation in flexible packaging, and environmental advantage of flexible plastic packaging. The higher disposable income in these developing countries increases the purchasing power. Hence, consumer dependence on processed, pre-cooked and packed foods, here, will increase. As a result flexible packaging market has been impacted, positively. However, flexible plastic packaging market has various restraints that hinder the market growth such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling.

 

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The market for global flexible plastic packaging is segmented mainly based on types, printing technologies, and applications. Market categorization on the basis of product type includes Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others. On the basis of printing technology, it has been segmented as flexography, digital printing, and others. Furthermore, on the basis of applications the market of flexible plastic packaging is segmented as food & beverages, pharmaceuticals, personal care, other industries. Flexible Plastic Packaging Market is expected to reach the market size of ~USD 129 billion by the end of forecast period with CAGR of ~5.2% between 2017 and 2023.

 

Regional Analysis:

Asia Pacific dominates the global flexible packaging market with the largest market share. It comprises countries such as China, India, and Japan, which lead in in the export of goods to various parts of the world. Moreover, increase in consumer income has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand for flexible packaging products. The increasing exports from these countries is leading to the growth of the flexible packaging market. The booming e-commerce market in the region is also contributing in the growth of the flexible packaging market. The e-commerce market is boosted by the increasing internet penetration.

Plastic packaging market expansion will continue to profit from the drive to replace traditional materials such as glass and metal, with lighter-weight, more cost-effective and higher performance plastic materials in various markets. Flexible plastic packaging is cheap, visually appealing and chemically inert. These features increase their demand in products that are used in packaging, and are made in a wide variety of innovative shapes, sizes and appearances. They include components, such as handles; and opening and reclosing features, such as zips and spouts. Such packaging helps in reducing the wastage of food due to the increased shelf life of the food product, according to Industry Council for Research and Packaging on the Environment (INCPEN). Advanced packaging for milk pouches, makes transportation easy and without any refrigeration.

 

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Key Players:

The major player operating in the market of global flexible plastic packaging are Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).

 

BRIEF TOC:

  1. EXECUTIVE SUMMARY
  2. RESEARCH METHODOLOGY
  3. MARKET DYNAMICS
  4. GLOBAL MARKET SEGMENTATION
  5. REGIONAL MARKET ANALYSIS
  6. COMPETITIVE ANALYSIS
  7. CONCLUSION
  8. LIST OF TABLES
  9. LIST OF FIGURES

 

The report for Global Flexible Plastic Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

 

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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