According to Goldstein Research, “Flexible packaging provides ease of portability, convenience, longer freshness and sustainability to the food products which is fuelling the demand for flexible packaging solutions across the globe. Cost effective and lightweight features of flexible packaging propelling the adoption rates among packaging companies. Moreover, massive developments in packaging technologies and improvements in packaging materials are generating opportunities for flexible packaging business across the globe.”
Global Flexible Packaging Market Outlook 2024
Global flexible packaging market is segmented on the basis of material type, by product type, by printing technology and by end users. Residential segment of end-user accounted for a colossal share of global Flexible Packaging market in 2016. Residential segment held 42% revenue share of global Flexible Packaging market in 2016 and is expected to hold over 60% shares by 2024. Rising urbanization is increasing needs for new accommodations. Growing number of construction of projects for building new residential units are driving the growth of this end-user segment.
Global flexible packaging market is estimated to reach over USD 135.7 billion by 2024 registering a healthy CAGR during the forecast period. Europe and North America together held 48% revenue share of global flexible packaging market in 2016 and are expected to witness stagnant growth during the forecast period. Growing demand for dairy products, processed meats and seafood in countries such as the U.S., Germany, the UK, France, the Netherlands and Spain are expected to support the steady growth of flexible packaging market in these regions.
Eco-friendly packaging films: Future of flexible packaging market
Flexible packaging solutions utilize less energy and resource consumption and reduce packaging and transportation cost as compared to packaging types and thereby contributing in the market growth. Application of high-performance films along with modified atmosphere packaging (MAP) technique is becoming an emerging trend for extending the shelf life of food in the market. Moreover, usage of bio-based plastic packaging is also expected to bring business opportunities for flexible packaging market players.
Global Flexible Packaging Market
The report contains a detailed overview of the global flexible packaging market in terms of market segmentation by material type, by product type, by printing technology and by end users. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global flexible packaging market also provides competitive outlook of some of the major players of global flexible packaging market which includes profiling of companies such as Amcor Limited, DuPont, Mondi Plc, Smurfit Kappa Group plc, AEP Industries, American Packaging, Automated Packaging Systems, Bemis Company, Berry Plastics, Coveris Holdings, Innovia Films, MeadWestvaco, Printpack, Rexam, Sealed Air Corporation, Sonoco Products, Wipak, Constantia Flexibles Group GmbH, Huhtamäki Oyj, Clondalkin Group Holdings BV, Ukrplastic, Ampac Holdings, Ball Corporation, , Exopack, Tetrapak, International Paper Company, Anchor Packaging, CL&D Graphics, Cellpack and Britton Group. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global flexible packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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