Global Flexible Packaging Market is Expected to Reach USD 370.23 Billion by 2025 : Fior Markets – Financialbuzz.com

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New Jersey, NJ, Sept. 10, 2019 (GLOBE NEWSWIRE) — Technological improvements in the food processing sector, changing lifestyles, growth of the organized retail industry, and increasing popularity of food delivery services are the major driving factors behind the growth of flexible packaging market globally. The global flexible packaging market is expected to grow from USD 252.34 Billion in 2017 to USD 370.23 Billion by 2025 at a CAGR of 4.91% during the forecast period from 2018-2025, according to the new report published by Fior Markets.

Flexible Packaging Association defines flexible packaging materials as any package or any part of a package whose shape can be readily changed. Snack food, fast food and beverages industry generate major demand for flexible packaging materials. Technological improvements, changing lifestyles, growth of the retail industry, and increasing popularity of food delivery services is fuelling the demand for flexible packaging materials globally.

The meteoric rise of e-commerce industry as well as global demand for sustainable packaging solutions, is fuelling the demand for flexible packaging materials. On the other hand volatility in raw material prices and concerns relating to improper disposable of packaging materials are proving to be the major roadblocks for the growth of the market. However, rise of ecommerce industry, rising demand for sustainable packaging solutions, and rise in global manufacturing capacities are anticipated to create new opportunities for the global flexible packaging market in upcoming years.  

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Key players operating in the global flexible packaging market include Bemis Company Inc., Huhtamaki Group, Amcor Limited, BASF SE, Constantia Flexibles Group GmbH, Sealed Air Corporation, Coveris Holdings S.A., Sonoco Products Company, Berry Plastics Group., Mondi Group, Reynolds Group Holdings, Clondalkin Group Holdings B.V., Ampac Holdings LLC, Transcontinental Inc, and among others. To enhance their market position in the global flexible packaging market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

  • The plastics and packaging industry has been consolidating rapidly to benefit from the rising demand for flexible packaging materials from ecommerce businesses, food and meat producers and automotive sector. For instance, Transcontinental Inc bought the U.S. packaging business of Coveris Holdings S.A. for USD 1.32 billion as the Canadian join other top North American companies in the flexible packaging space.
  • Increasing global consumption of packaged food has led flexible packaging manufacturers to increasingly launch innovative products to serve the segment better. For instance, BASF SE at Interpack 2017 launched Ultradur® B1520 FC for thin-walled, injection-molded food packaging. Ultradur®, a partially crystalline saturated polyester used in single-serve coffee capsules, offers improved oxygen barrier properties than commonly-used PP. Using PBT instead of PP in the containers also allows for the removal of aluminum film as a needed secondary packaging. Better oxygen barrier properties keep the coffee fresher for a longer time, helping in increasing the shelf lifetime of the food products.

Bioplastic segment is anticipated to grow at a CAGR of 9.14% in 2018-2025

The material segment is categorized into paper, aluminium foil, plastic and bioplastic. Increasing demand for biodegradable eco-friendly packaging materials owing to restriction on the use of plastics is expected to propel the bioplastic segment growth at a CAGR of 9.14% over the forecast period. Due to the property of taking any form or shape, the plastic segment is widely utilized in the food & beverage sector. Plastic flexible packaging material registered a market share of 72.53% in the total global volume in 2017.

Food and Beverages had a market value of USD 156.80 Billion in 2017

Application segment is divided into food and beverage, pharmaceutical, cosmetics, and others. Increasing consumption of packaged foods, frozen meat, snack, and ready to cook mix, bakery products is leading to a universal rise in demand for flexible packaging materials. Thus, the food and beverages segment registered the market revenue of USD 156.80 billion in 2017. The cosmetic segment is also expected to grow at a healthy pace due to an increased consumption led by rising income and standard of living. Demand for improved packaging materials to preserve and protect the potency of formulations has led to the growth of the pharmaceutical segment at a CAGR of 7.56% over the forecast period.

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Regional Segment Analysis of the Flexible Packaging Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific emerged as the leader with 41.19% of total global volume in 2017 followed by Europe. Asia Pacific region is projected to dominate the market over the forecast period owing to its flourishing food and beverage sector as well as pharmaceutical sectors, especially in China and India. Rising per capita disposable income is leading to an increase in the demand for packaged food, cosmetics and pharmaceuticals thus boosting the demand for the flexible packaging materials over the forecast period. Europe with its well-developed food and beverages industry coupled with its huge demand for geriatric medicinal formulations is expected to account for a significant share of the global flexible packaging market.

About the report:

The global flexible packaging market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), import (Kilotons), and export (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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