Definition / Scope
Global Flexible Packaging Market: Snapshot
The global market for flexible packaging is estimated to witness massive growth in the years to come owing to their multiple use properties. Flexible packaging in general terms means the container or packaging that is created out of easily yielding or flexible materials. These materials when closed or filled can be changed structurally. The basic materials used for flexible packaging could be foil, plastic film or paper or even a combination of these.
The demand for flexible packaging has been rising at a rapid rate within the last couple of years because of its uses in different areas, whether food packaging or pharmaceutical products, or other consumer goods. Adding to that, the continuous advancement in the packaging industry in terms of materials is also seen to be accelerating the overall market for flexible packaging in coming years. Therefore the multiple use of flexible packaging in various other industries is boosting the future market revenue.
The global flexible packaging market is prognosticated to reach a value of US$358.7 bn towards the end of the forecast period that is set from 2017 to 2024. The CAGR is estimated to be 5.2%. The market figures depict a notable rise in value progressing from a valuation of US$238.5 bn as per the 2016 records.
Based on segmentation by product type, the global flexible packaging market is divided into Retort Pouches, Squeezable Bottles, Converted Roll Stock, Laminated Tubes, Vacuum Pouches, Wicketed Bags, Gusseted Bags, and Stand-up Pouches. Out of these, the market seems to be drawing more revenue shares from the stand-up pouch segment.
With respect to application, the global market for flexible packaging is categorized into Industrial and Institutional, and Consumer. Further classification of Consumer group includes tobacco, pharmaceutical, personal care, and food and beverages. Among these, the market is seen to be dominated by the food and beverage group since it is more convenient for end users to carry their food around with sealed and proper packaging.
|Base Year||2018||Researched through internet|
The global market for flexible packaging is estimated to witness massive growth in the years to come owing to their multiple use properties. The presence of large number of players in the market and entry of new entrants in the global flexible packaging market is projected to intensify the market competition. The market competition is seen on the basis of price, quality, services, and innovation. The leading players in the market putting efforts by introducing innovative and bio-based packaging materials.
Top Market Opportunities
Food and Beverage Sector to Offer Lucrative Growth Opportunities for Market
The global flexible packaging market is categorized on the basis of product type, material type, and application. With regard to material type, the global flexible packaging market is segmented into Cellulosic, Aluminum, Paper, and Polymer. Further classification of polymer includes Poly Styrene, Ethylene Vinyl Alcohol (EVOH), Poly Vinyl Chloride (PVC), Polyamide (PA), Biaxially-oriented polyethylene terephthalate (BOPET), Cast Polypropylene (CPP), Biaxially-Oriented Polypropylene (BOPP), Polypropylene (PP), and Polyethylene (PE). Sub-segmentation of Polyethylene (PE) includes LLDPE, HDPE, and LDPE.