Flexible Plastic Packaging Market To Expand Moderately At A CAGR Of 5.2% During 2022 - 2030

Pune, India, October 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Flexible Plastic Packaging Market Research Report.

Market Overview:

In various industrial sectors, flexible plastic packaging plays a primary role in securing the contents of packages. As per the report that has been published by Market Research Future (MRFR), the global flexible plastic packaging market is anticipated to expand moderately at a CAGR of 5.2% during the forecast period of 2022 - 2030.

Market Drivers and Restraints:

The flexible plastic packaging is currently the fastest growing packaging type in the global market. Extensive utilization of this packaging in various industrial sectors is fuelling the growth of the global flexible plastic packaging market. Flexible plastic packaging offers improved packaging designs, use of recyclable materials and increases the shelf life of products. 

Flexible plastic packaging is utilized extensively in food and beverages industry. Various food and beverage products are packed using this packaging such as coffee, tea, frozen food, baked goods, chocolates, confectionery, snacks and others. Increasing consumption of these food and beverage products is inducing high demand for flexible plastic packaging in the global market, which in turn is resulting in the expansion of the global flexible plastic packaging market

Spiraling demand for flexible plastic packaging in pharmaceutical, cosmetic and other industries is also propelling the growth of the global flexible plastic packaging market. Increasing availability of recyclable packaging materials owing to the rising environmental concerns is impacting positively on the expansion of the global flexible plastic packaging market. However, strict regulatory framework for environmental protection and increasing concern regarding plastic waste are likely to restrain the growth of the global flexible plastic packaging market during the forecast period.

Market Segmentation:

The global flexible plastic packaging market has been segmented on the basis of type, printing technology and application. Based on type, the flexible plastic packaging market has been segmented into stand-up pouches, flat pouches, gusseted, bags and others. The stand-up pouches segment is anticipated to account for the largest market share during the forecast period due to the growing consumption of dairy products, cosmetics, food & beverages and personal care products that are usually packed using flexible plastic packaging.

Based on printing technology, the flexible plastic packaging market has been segmented into flexography, digital printing and others. Based on application, the flexible plastic packaging market has been segmented into food and beverages, pharmaceutical, personal care and others. 

Regional Analysis:

Geographically, the global flexible plastic packaging market has been segmented into North America, Europe, Asia Pacific and the rest of the world. The Asia Pacific region is projecting dominance over the global flexible plastic packaging market owing to the increasing utilization of plastic packaging for various goods that are being exported from the emerging economies like India, China and Japan and high demand for good quality food packaging in this region. Growing demand for flexible plastic packaging in rapidly expanding food and beverages, pharmaceutical and other industries is fuelling the growth of the flexible plastic packaging market in the North America and Europe regions.

Industry Updates:

In September 2018, Amcor announced that it will invest more than $25 Mn to expand and upgrade an existing facility in Madison, Wisconsin.

In September 2018, Mondi and Werner & Mertz announced that they will be introducing new, patented fully recyclable pouches with detachable decorative panels in the year 2019.

Key Players:

The leading players that are profiled by MRFR in the report on global flexible plastic packaging are Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (the U.S.), Coveris Holdings S.A. (the U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (the U.S.) and Ampac Holdings LLC (the U.S.).

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