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Flexible Packaging Market By Material Type (Plastic, Paper, Aluminum Foil, Flexible Foam, Others), By Product Type (Pouches, Bags, Wraps, Others), By End-use Industry (Food & Beverages, Personal Care, Healthcare, Home Care, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Industry Outlook

The global flexible packaging market was worth US$ 222.30 billion in 2017 and is expected to be worth US$ 317.57 billion in 2026, growing at a CAGR of 4.1% from 2018 to 2026. Asia Pacific was the largest region for flexible packaging in 2017, and it is also expected to be the fastest-growing region during the forecast period.

Flexible packaging is a packaging container that is made from flexible or easily yielding materials, the shape of which can be changed once it is filled or closed. A wide variety of materials are used to manufacture flexible packaging, such as plastic, paper, and aluminum foil, among others. The demand for flexible packaging is witnessing steady growth, mainly attributed to the growing food and beverage, personal care, and pharmaceutical industries, among others. Asia Pacific is expected to display strong growth for flexible packaging in the coming years, with China, Japan, and India leading the market. Technological innovations, attractive economics, and sustainability concerns are some of the reasons that have resulted in the phenomenal growth of the flexible packaging market. The robust growth of the packaged food industry has a great influence on the growth of the flexible packaging market. Developing nations, such as China, India, and Japan, among others, are contributing more to the growth of the packaged food industry as compared to the developed nations, due to which the manufacturers are focusing greatly on expanding in these markets for growth opportunities. Consumer demand for convenience, fueled by rising discretionary income levels among the working population, has paved the way for the packaged food industry to expand in regions such as Asia Pacific. However, fluctuation in raw material prices is one of the key factors contributing to the current market slowdown. Polyethylene prices are heavily influenced by crude oil prices.OPEC countries have an influence on regulating oil prices. OPEC controls more than 40% of the global oil supply and is responsible for influencing the price of oil and gas by regulating production levels. Further, gaps in the demand and supply of oil also result in volatile oil prices. Moreover, fluctuations in crude oil prices result in an increase or decrease in the profitability margin of resin manufacturers. The "futures contract" that is set between the buyer and seller allows the buyer to buy materials at a set price in the future as well, which sets an uncertainty in the profitability margin of the resin manufacturers due to fluctuations in oil prices. This is a key factor limiting market growth at present.

Market Synopsis: Value

Plastics, based on material, are expected to lose share during the forecast period owing to rising demand for alternatives.

Based on material, plastics dominated the flexible packaging market in 2017 and are expected to display similar trends in the coming years as well. Various types of plastics are predominantly used as flexible packaging. However, growing incidences of plastic pollution have posed serious threats to the environment. The disposal of plastics has increased from 1.5 million tonnes in 1950 to 320 million tonnes in 2016, and the number is expected to double by 2034. Further, out of the total plastics that are produced, approximately 40% of them are used for packaging. These factors have raised concerns among regulatory authorities and manufacturers, and they are seeking alternatives to plastic for flexible packagings, such as paper. Moreover, the demand for bioplastics is also on the rise due to their biodegradable nature. Polylactic acid (PLA) and polyhydroxyalkanoates (PHA) are the two major polymers that are used to manufacture bioplastics as they are fully biobased, biodegradable, and have numerous physical and mechanical properties based on composition.

Paper packaging is expected to display significant growth in the coming years. Manufacturers operating in the flexible packaging industry are adopting paper as a material for packaging due to several regulatory bans on the use of plastics.

Asia Pacific Will Continue Leading the Flexible Packaging Market in the Coming Years

Asia Pacific dominated the global flexible packaging market in 2017 and is expected to retain its position throughout the forecast period as well. The high population density in China and India is a major driver of the Asia Pacific flexible packaging market. Packaging for consumer goods in China is shaped by the changing conditions of the market and evolving consumer demand and behavior. Innovative technologies and subcultural elements are being implemented on labels, thus making the products more attractive to the younger generation. Growing concerns over health and wellness have greatly contributed to the growth of the packaged food industry in China. Fast-paced lifestyles and increasing workloads leading to stress are some of the factors contributing to the rapid adoption of healthy packaged foods. These factors are majorly responsible for the growth of the flexible packaging market in China. The growth of the flexible packaging market in India is attributed to the rapidly growing food and beverage and pharmaceutical industries. India is considered to be one of the largest providers across the globe. According to the India Brand Equity Foundation (IBEF), India supplies more than 50% of the global demand for several types of vaccines, 25% of all medicines in the U.K., and 40% of the generic drug demand in the U.S. India's pharmaceutical industry was valued at US$ 33 billion in 2017 and was expected to reach US$ 55 billion by 2020. These factors signify the strong growth of the pharmaceutical industry in India, which in turn is a key driver for the growth of the flexible packaging market in the country.

North America and Europe are prime regions for the growth of the flexible packaging market as well. North America is one of the largest regions for the food and beverage industry. The food and beverage industry in North America generated US$ 17.44 billion in revenue in 2018 and is expected to reach US$ 27.97 billion by 2022. The demand for paper packaging is expected to display strong growth in the region during the forecast period, owing to stringent regulations imposed against environmental pollution. In Europe, packaging design is an important aspect of the product's performance at the point of sale, as the food and beverage industry in the region is highly saturated. Producers, retailers, and fillers are involved in developing cost-efficient packaging solutions, which include films with optimal functionalities.

Product development is one of the key strategies of companies operating in the flexible packaging market.

Notable players operating in the global flexible packaging market include Amcor Ltd., Bemis Company Inc., Berry Plastics Corporation, Mondi Group, Sealed Air Corporation, Huhtamaki Oyj, Sonoco Products Company, Ampac Holding, Wipak Group, Flextrus AB, among others.

In June 2017, Sealed Air Corporation launched its newest innovation, the Cryovac® FlexPrep, a flexible pouch system that is used to dispense sauces and condiments. FlexPrep enables users to keep the product for a longer period of time and dispense it from the dispensing pouch. This product doubles the shelf life of certain condiments, allowing for better inventory control and less waste. Furthermore, this new innovation has a 60% lower carbon footprint.FlexPrep allows retailers to boost their bottom lines. Such developments have had a positive influence on the growth of the flexible packaging market.

Periods of History and Forecast

Our study analyzed each market segment during the period from 2016 to 2026, with 2017 as the base year. The forecast period between 2018 and 2026 is considered for the CAGR calculation.

Report Scope

The report provides a comprehensive overview of the global flexible packaging market by categorizing it into the following segments:

This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics, such as drivers, challenges, and opportunities prevalent in the market, to understand the global flexible packaging market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights revenue pockets and investment opportunities in the market.

Key questions are answered in this report.

  • Who are the major manufacturers and distributors operating in the flexible packaging market?
  • What are the largest segments in the market during the forecast period from 2018 to 2026?
  • Which are the fastest-growing segments in the market for the forecast period?
  • What are the current market trends in the flexible packaging market, and what are the players' valuable opportunities?
  • How are the regulatory frameworks affecting global as well as regional markets?
  • Which are the key players operating in the global market and the strategies adopted by them?
  • What are the market size and trends in emerging and developed markets?

Frequently Asked Questions:

The market for Flexible Packaging is expected to reach US$ 317.57 Bn in 2026.

The Flexible Packaging market is expected to see significant CAGR growth over the coming years, at 4.1%.

The report is forecasted from 2018-2026.

The base year of this report is 201

Amcor Ltd. 84,Ampac Holding 86,Bemis Company Inc. 87,Berry Plastics Corporation 88,Flextrus AB 89 are some of the major players in the global market.

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Published Date:  Nov 2018
Category:  Packaging
Report ID:   59432
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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