Flexible Packaging Market Gaining Momentum From Innovations in Polymers Industry
Packaging Market Outlook
Flexible packing is a form of packaging that is manufactured from plastic, film, paper, aluminium foil, paperboard, laminated paper, and flexible foam. It is produced in such a way that it can readily change shapes and structure. It is one of the most economical techniques of packaging applied in the manufacturing industry. The market growth is driven by the increasing application trend of biodegradable products. The flexible packaging market is estimated to grow at a rapid pace considering its application in various end-user industry such as personal care, pharmaceutical, food and beverage, sports, and electronics industry.
Flexible Packaging Market Analysis
A recent market research report published by IndustryARC evaluates the global flexible packaging market size to be $220 million as of 2018, and as per the trends, the market is estimated to grow at a compound annual growth rate (CAGR) of 3.7% during the forecast period of 2019 to 2025. The global flexible packaging market share is dominated by the APAC region with a market share of 43% as of 2018. However, the product is gaining rapid popularity in other developed regions as well. Among the applications, the highly applied material in the flexible packaging industry is plastic, with a CAGR of 4% through the forecast period.
Flexible Packaging Market Demand Analysis
According to the Institute of Packaging Professionals, the flexible packaging industry is the second largest segment in the packaging sector, commanding the market revenue of $25 billion in the United States only. The demands in the flexible packaging industry are evident to grow in the near future owing to the rapid developments and manufacturing of products in the electronics industry. Also, the growth is subjected to multiply because of the flourishing pharmaceuticals industry. The flexible packaging of environmentally sensitive products in the pharmaceutical industry is mandatory such as it provides the correct and precise treatment to its consumers.
· A recent innovation in the flexible packaging industry marked the initiation of a new polymer called the food-grade flavor molecules. This packaging material is used in the food and beverage industry extensively as it virtues the property to release aromas/odors on the inside or outside of the package.
· Another emerging technology in the industry is the indulgence of sensors, processors, and indicators in the packaged material. This package allows the customers to detect a change in the environment of the package which is projected to improve the productivity in the flexible packaging industry.
· One of the most trending types of flexible packaging is edible or soluble packaging materials. These are manufactured from cellulose and whey, and they are one of the most popular materials used for packaging in the food and beverage sector as they protect the material from chemical, environmental, physical damage whilst being edible or water soluble.
Flexible Packaging Market Scope
Along with continuous innovations in the packaging techniques, the demands for new, different, and many efficient products are driving the manufacturers in using new polymers to manufacture such packaging products. The introduction of metallized films in packaging industry was one such innovation. The initiation of metallized packaging material provided the industry with a robust, water and oxidation resistant packaging. The future holds a sea of developments in the packaging industry. The ongoing trend in the packaging market is the development of materials which possess high barrier properties and are sustainable at the same time. The flexible film industry is the centre of revolutionary innovations and developments, and both are not subjected to cease in the near future.
presented is deduced from the report titled “
Flexible Packaging Market: By
Material (Polypropylene, Polyethylene, Aluminium, Paper, Cellulosic, Others);
By Industry (Food & Beverage, Personal Care, Pharmaceuticals & Others)
& Geography – Forecast (2019 - 2025)
Flexible Packaging Market Key Companies
Some of the key
players influencing the global market are:-
The acceptance of modern popular plastic films, polymers, and flexible films, the packaging engineers are projected to endless possibilities. With consistent research and development in the packaging industry, the existing flexible packaging material is subjected to modernize and innovate as well. Moreover, the growth in the various end-user industry can be accounted for the major growth driver for the flexible packaging market.
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Fresh Food Packaging Market
Medical Flexible Market
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2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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