Flexible Packaging Market Application, Forecasted Demand, Endemic Regions and Future Threats

Felton, Calif., USA, Mar. 01, 2021 — /EPR Network/ —

The global Flexible Packaging Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Flexible Packaging Market is expected to reach USD 293.03 billion by 2022. Flexible packaging is termed as a packaging material that is easily stretchable, thin, and light but retains the barrier properties. Moreover, this packaging material is puncture resistant. It is a process for safe, durable, and convenient food and beverage packaging. Innovation in the packaging help extend the shelf life of the product and keep it safe.

Key Players:

  • Bemis Company, Inc
  • Mondi plc
  • Huhtamaki Oyj
  • Sealed Air Corporation
  • Constantia Flexibles International GmbH
  • Sonoco Products Company
  • Amcor Ltd.
  • Ukrplastic
  • Ampac Holding
  • Wipak Group

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Growth Drivers:

Moreover, it also acts as a barrier against dirt, moisture, temperature, and microbes. They are exclusively used in the industries like dairy products, electronics, healthcare products, sporting goods, household appliances, and cosmetics. The flexible plastic films are not manufactured in developing regions but are imported from developed regions. The Flexible Packaging Market is estimated to grow at a significant CAGR of 4.7% over the future period as the scope and its applications are rising enormously across the globe.

High demand from sporting goods, healthcare, household products, cosmetics & toiletries, food & beverages, and other products companies, technological enhancement, easy storage and transportation, and convenient packaging are documented as major factors of Flexible Packaging Market that are estimated to enhance the growth in the years to come. However, recyclability of packaging material and strict government policy are the factors that may restrain overall market growth in the coming years.

Raw Material Outlook:

  • Paper
  • Aluminum foil
  • Plastic
  • Bioplastic

Application Outlook:

  • Food & Beverages
  • Pharmaceutical
  • Cosmetics

Regional Outlook:

Globally, Asia Pacific accounted for the largest market share of Flexible Packaging and is estimated to lead the overall market in the coming years. The reason behind the growth could be economic development in emerging countries like India and China and expansion of pharmaceutical and food & beverages industries.

Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. The aspects that may be ascribed to the growth comprise rising use of enhanced technology and expansion of industries like diary, medical, and confectionery. However, Europe is estimated to grow at fastest pace with the highest CAGR in the foremost period. This may be because of growing purchasing power as high demand for processed food and cosmetics.

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