Category

Flexible Packaging Market - Forecasts From 2018 To 2023

114 pages
Published on : May 2019
Report Code : KSI061610039

Description

Flexible Packaging is any package or part of a package whose shape can be readily modified. It is used for consumer products and industrial applications to protect the market and distribute a wide array of products. The flexible packaging market is expected to grow from USD 223.544 billion in 2018 to USD 287.717 billion in 2024 at a CAGR of 4.30%. By volume, the market is estimated to grow from 104.744 million tonnes in 2018 to 143.611 million tonnes in 2024. The market growth is driven by its cost-effectiveness. Flexible packaging requires less raw material and energy to manufacture. This kind of packaging increases the shelf life of the products, especially food items. It is convenient to use and is suitable for diverse product categories which are expected to further drive the market growth. However, stringent regulations regarding the raw material and recyclability are expected to be a restraint for market growth. By material, plastic is expected to have a significant market share as it provides secure packaging and good visibility of the product. By application, food and beverage are estimated to have a considerable growth rate as flexible packaging extends the shelf life of the product. By geography, the Asia Pacific market is expected to have a significant market share owing to the large consumer base for FMCG products in the region.

DRIVERS

Increased shelf life of the product

Cost-effectiveness

Convenient to use and suitable for diverse product categories

RESTRAINT

Stringent regulations

INDUSTRY UPDATE

In May 2018, Transcontinental Inc. completed the transformational acquisition of Coveris Americas and became a North American leader in flexible packaging.

In May 2019, Sealed Air Corporation announced that it has signed a definitive agreement to acquire Automated Packaging Corporation, a leading manufacturer of high-reliability automated bagging system.

SEGMENTATION

The flexible packaging market has been analyzed through the following segments:

By type

Pouch

Bag

Films

Others

 

By material

Plastic

Paper

Aluminum

 

By end user industry

Food & Beverage

Personal care

Pharmaceutical

Others

 

By Geography

North America

USA (by value and volume)

Canada(by value and volume)

Mexico (by value and volume)

 

South America

Brazil(by value and volume)

Argentina(by value and volume)

Colombia (by value and volume)

Chile (by value and volume)

Others(by value and volume)

 

Europe

Germany (by value and volume)

France (by value and volume)

Italy (by value and volume)

United Kingdom (by value and volume)

Spain (by value and volume)

Russia (by value and volume)

Others (by value and volume)

 

Middle East and Africa

Israel (by value and volume)

Saudi Arabia (by value and volume)

South Africa (by value and volume)

Iran (by value and volume)

Egypt (by value and volume)

Others (by value and volume)

 

Asia Pacific

China (by value and volume)

Japan (by value and volume)

India (by value and volume)

South Korea (by value and volume)

Australia (by value and volume)

Others (by value and volume)

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