Flexible Plastic Packaging Industry Revenue, Future Scope, Market Trends, Key Players and Forecast To 2023

Flexible Plastic Packaging Industry 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 Industry is anticipated to expand moderately at a CAGR of 5.2% during the forecast period of 2017-2023.

The Global Flexible Plastic Packaging Industry is anticipated to expand moderately at a CAGR of 5.2% during the forecast period of 2017-2023.

Spiraling demand for flexible plastic packaging in pharmaceutical, cosmetic and other industries is also propelling the growth of the global Flexible Plastic Packaging Industry.

Key Players

• Amcor Limited(Victoria)
• Constantia Flexibles Group GmbH (Austria)
• Mondi Group (Johannesburg)
• Sealed Air Corporation (North Carolina)
• Sonoco Products Company (U.S.)
• Coveris Holdings S.A. (U.S.)
• Huhtamaki Group (Finland)
• Bemis Company Inc. (U.S.)
• Ampac Holdings LLC (U.S.).

In September 2018, Amcor has 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 have announced that they will be introducing new, patented fully recyclable pouches with detachable decorative panels in the year 2019.

Segmentation

The global Flexible Plastic Packaging Industry has been segmented on the basis of type, printing technology and application. Based on type, the Flexible Plastic Packaging Industry 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 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 Industry has been segmented into flexography, digital printing and others. Based on application, the Flexible Plastic Packaging Industry has been segmented into food and beverages, pharmaceutical, personal care and others. 

Regional Analysis

Asia Pacific dominates the global flexible packaging market with the largest market share. It comprises countries such as China, India, and Japan, which lead in in the export of goods to various parts of the world. Moreover, increase in consumer income has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand for flexible packaging products. The increasing exports from these countries is leading to the growth of the flexible packaging market. The booming e-commerce market in the region is also contributing in the growth of the flexible packaging market. The e-commerce market is boosted by the increasing internet penetration.

Plastic packaging market expansion will continue to profit from the drive to replace traditional materials such as glass and metal, with lighter-weight, more cost-effective and higher performance plastic materials in various markets. Flexible plastic packaging is cheap, visually appealing and chemically inert. These features increase their demand in products that are used in packaging, and are made in a wide variety of innovative shapes, sizes and appearances. They include components, such as handles; and opening and reclosing features, such as zips and spouts. Such packaging helps in reducing the wastage of food due to the increased shelf life of the food product, according to Industry Council for Research and Packaging on the Environment (INCPEN). Advanced packaging for milk pouches, makes transportation easy and without any refrigeration.

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