Converted Flexible Packaging Market Competitive Dynamics, Trends, Demand, Global Size, Outlook And Forecast To 2023

Converted Flexible Packaging Market Scenario

According to Market Research Future (MRFR), in its latest “Converted Flexible Packaging Market” report, the worldwide converted flexible packaging market 2020 can witness a sharp rise. The converted flexible packaging can surge at 5.31% CAGR through the estimated period (2017-2023). MRFR estimates the world converted flexible packaging market to value at USD 104,999.8 Mn by 2023.

The packaging type that combines raw materials, such as adhesives, polyesters, paper & paperboard, and plastics to produce new packages, such as bags and pouches is called convert flexible packaging. Their growing food & beverages, pharmaceuticals, personal care, and consumer goods applications can prompt the convertible flexible packaging market growth.

Segmental Study

The convert flexible packaging market study is based on product and application. The product-based segments of the convert flexible packaging market are bags, pouches, and others. The rise in the expansion of the convert flexible packaging market account on high sales of pouches. Pouches accounted for 39.62% share of the market, and the value estimated for the market is USD 29,152.4 Mn.

The application-based segments of the convert flexible packaging market are pharmaceuticals, food & beverages, consumer goods and others. F&B segment accounted for 39.10% share of the market, and USD 28,769.8 Mn was the estimated value for the market. The rise in demand for on-the-go and ready-to-eat foods and drinks can boost the converted flexible packaging market growth. In addition, the rise in the disposable income in China, Brazil, and India resulting in the high demand for good quality packaged food can cause the food & beverages segment to surge at 5.80% CAGR during the estimated period.

Key Players

MRFR listed reputed players in the world converted flexible packaging market. They are; Amcor Limited (Australia), Bemis Company Inc. (U.S.), Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), Graphics Packaging Holding Company (U.S.), Ampac Packaging LLC (U.S.), Constantia Flexibles Group GmbH (Austria), Honeywell International Incorporated (U.S.), Bischof + Klein SE & Co. KG (Germany), and Oracle Packaging Inc. (U.S.). Mergers, strategic partnership, and new product launches can favor the converted flexible packaging global market in the years to come.

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