The global Flexible Packaging Market is anticipated to reach $335 billion by 2026 according to a new research. In 2017, the food and beverage segment accounted for the highest market share in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global Flexible Packaging market revenue in 2017.
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The increasing disposable incomes and growing demand for fast moving consumer goods drives the growth of the flexible packaging market. Growing urbanization has resulted in urban citizens spending most of their time at work and everyday commute, which has increased the demand for convenient packaging for on-the-go consumption, thereby supporting the flexible packaging market growth. Brand owners are taking initiatives to optimize packaging operations to meet the global competition, increase productivity, enhance shelf life of products, improve overall efficiency, and create brand differentiation in the market. The demand for new and unique packaging sizes, shapes and configurations has increased from industries such as food and beverages, cosmetics, and healthcare among others. The increasing need to offer convenient packaging solutions while also addressing environmental concerns has boosted the flexible packaging market growth.
The acquisition of KSP compliments Mondi’s stand-up pouch operations in Korneuburg, Austria and Jackson, US while expanding its presence in U.S. and Asia. In July 2016, Mondi Group also signed an agreement to acquire Uralplastic. Uralplastic manufactures a range of consumer flexible packaging products for food, hygiene, homecare and other applications. The acquisition of Uralplastic supports the development of Mondi’s consumer packaging business, strengthens its presence in the Russian consumer packaging market, and expands its offerings in the flexible packaging market.
Numerous key players have adopted partnership and acquisition strategies to increase their market share in the global flexible packaging market. For instance, In December 2015, Mondi Group signed an agreement for the acquisition of 95% of the outstanding share capital in KSP, Co. KSP is a flexible packaging company based in South Korea with strong focus on production of high-quality spouted and retort stand-up pouches for food, pet food and beverage industries.
Top key players in the market
The well-known companies profiled in the Flexible Packaging report include Amcor Limited, Mondi Group, Berry Plastics Corporation, Sonoco Products Company, American Packaging Corporation, Novolex Holding Inc., Bemis Company, Inc, Constantia Flexibles International GmbH, Ampac Holding, and Sigma Plastics Group. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Asia-Pacific generated the highest market share in terms of revenue in 2018 in the flexible packaging industry, and is expected to lead the global Flexible Packaging market throughout the forecast period. The growing population, rising disposable incomes, and increasing living standards support the growth of flexible packaging industry in the region. The increasing demand from the food and beverage, and retail industry is expected to generate numerous opportunities for the Flexible Packaging industry.
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Table of Contents
1. Overview and Scope
2. Executive Summary
3. Flexible Packaging Market Insights
4. Flexible Packaging Market Size and Forecast, 2018-2026 by Type
4.1. Key Findings
4.2. Bags
4.3. Pouches
4.4. Wraps
4.5. Others
5. Flexible Packaging Market Size and Forecast, 2018-2026 by Material
5.1. Key Findings
5.2. Paper
5.3. Plastic
5.4. Flexible Foam
5.5. Aluminum Foil
5.6. Bioplastics
5.7. Others
6. Flexible Packaging Market Size and Forecast, 2018-2026 by End-User
6.1. Key Findings
6.2. Food and Beverage
6.3. Healthcare
6.4. Retail
6.5. Consumer Goods
6.6. Others
7. Flexible Packaging Market Size and Forecast, 2018-2026 by Region
8. Company Profiles
8.1. Amcor Limited
8.2. Mondi Group
8.3. Berry Plastics Corporation
8.4. Sonoco Products Company
8.5. American Packaging Corporation
8.6. Novolex Holding Inc.
8.7. Bemis Company, Inc
8.8. Constantia Flexibles International GmbH
8.9. Ampac Holding
8.10. Sigma Plastics Group
Related Report:
Global Sustainable Packaging Market 2019- 2026
Key driving forces of the market growth are government initiatives towards Sustainable Packaging coupled with Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials. For instance, government regulation, such as directive 94/62/EC by the European Union, the National Environment Agency (NEA) of Singapore’s mandatory requirements for sustainable packaging are examples of government initiatives.
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