Flexible Packaging Market |Market Analysis|Global Industry|Market Forecast to 2026
The Global Flexible Packaging Market was worth $227.18 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 5.12% during the forecast period.
(EMAILWIRE.COM, October 25, 2019 ) Market Overview
• Flexible packaging is any package or any part of a package which can change its shape based on the contents enclosed within. Common examples of flexible packaging are bags and pouches. From the beginning of adaptable films, the packaging industry has been disturbed towards gaining surprising potential. Internet business with effective logistic activity as its backbone is disrupting the flexible packaging market.
Market Dynamics
• Increasing consumer preference for convenient and appealing products, increase in technological innovations, growing food & beverages consumption and increased demand for plastic-based flexible packaging products are the vital drivers for the market growth. One of the major drivers for high demand in the flexible packaging market is the rising preference for aesthetically appealing products. Consumers tend to prefer packaged goods such as cosmetics, toiletries, and food products that are presented in an aesthetically appealing manner. Hence, manufacturers of food and other consumer packaged products spend large sums of money on developing packaging that is not only easy to open and convenient to use but is also visually appealing. For instance, some new pouch packaging such as that produced for baby food comes in a wide-variety of colorful packs and shapes.
• There have been numerous technological innovations in the market, which has led to an increase in the number of new products being offered by vendors to suit the varied needs of their customers. Manufacturers are looking for packaging solutions with high performance and also are focusing on reducing the manufacturing costs. Packaged food, beverage, and personal care product companies are demanding highly competitive, cost-efficient, and visually appealing packaging solutions. Such demands have compelled vendors to use new technologies to innovate their product offerings. For instance, over the last few years, there has been a shift toward using multilayer packaging solutions rather than simple paper bags. These multilayer packaging solutions are being developed with new materials such as self-venting films, which are used to pack frozen food products, and the food can be steam-cooked within the pack itself.
• Highly fragmented market, rising prices of raw materials and threat of substitution by other forms of packaging are the market restraints that hindering the growth of the market. The highly fragmented nature of the market is proving to be a major challenge for vendors. The presence of several players, both domestic and international, which are competing for increasing their share in the market, has led to the market is highly fragmented. There is also a high degree of fragmentation in each flexible packaging segment, whether it is paper, plastic, glass, or metal. The intensified price competition affects the profitability of vendors as they tend to reduce the prices of their products to survive in this competitive environment, which is a challenge for the overall market.
Market Segmentation
• Depends on the Product type, the market is divided into pouches, wraps, bags, and others.
• On the basis of end-user industry, the market is categorized into food, pharmaceutical and medical, beverages, personal care and household care, tobacco, and others. The Food flexible packaging market value is estimated to reach $XX billion by 2026 from an initial market value of $113.17 billion in 2018. The market is estimated to grow at a CAGR of XX% in the forecasted period 2018-2026. The food industry is the largest market for flexible packaging, accounting for more than 45% of consumption, followed by retail non-food, consumer products, pharmaceuticals, industrial applications and industrial non-food. In the food segment, meat, fish, and poultry account for the largest usage of flexible packaging, followed by confectionery and baked goods. The food segment is growing due to increasing women workforce, changing lifestyles, altering food habits, and rising demand for convenient food products. Increased shelf life, more stability while transporting, value-added features such as steam release packaging, easy-pour spouts, and custom closures are the current innovations in the flexible food packaging industry
• Based on material, the global market for flexible packaging is broadly segmented as paper, Aluminium, cellulosic and polymer. The polymer segment is estimated to reach a market value of $XX billion by 2026 from an initial market value of $173.13 billion in 2018. The market is estimated to grow at a CAGR of 4.92% in the forecasted period 2018-2026. This segment is expected to grow and dominate the Global Flexible Packaging market during the forecast period accounting for over 75% of the market share. The polymer is the most commonly used material in flexible packaging products due to its highly versatile nature which enables it to be converted into a number of shapes, sizes, and designs. Also, it is also more flexible, durable, and cost-efficient than other materials. Recently, the application of food‐grade flavor molecules which is added to polymer structure developed a film that releases odors/aromas on the inside or outside of a package (Byrne). New polymer technologies have improved materials toughness/puncture resistance, product protection, and equipment handling. In the last decade, materials have been reduced by up to 50% through these new polymer technologies.
Geographical Analysis
• The global Flexible Packaging Market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa. The global flexible packaging market was valued at US$ 227.51 billion in 2018, and is expected to reach a value of US$ XX billion by 2026, at a CAGR of 4.59% over the forecast period 2018-2026.
• Asia-Pacific has the highest market share of above 40% and is estimated to grow with a CAGR of 5.46% during the forecasting period. The Asia-Pacific flexible packaging market is estimated to reach a market Value of US$ XX billion by 2026 from an initial market value of US$ 94.89 billion in 2018. China is dominating the Asia-Pacific flexible packaging market with the highest market share of more than 35% in 2018 due to its shift from production-based to a consumption-based economic structure. With an increasing number of supermarkets in the Asia-Pacific region along with the technological advancements and innovations in the flexible packaging industry, the market is booming in emerging economies like China and India. Southern Packaging Group offers flexible packaging solutions for Pharmaceutical industry including medicines, medical devices and pesticide products. In Sept 2017, Huhtamaki acquired International Paper's foodservice packaging operations in China which will expand its manufacturing footprint into the Eastern China region.
• North American region accounted for 21 % of the global flexible packaging market in 2018. The North America flexible packaging market was valued at $48.03 billion in 2018, and is expected to reach a value of US$ XX billion by 2026, at a CAGR of XX% over the forecast period 2018-2026. The market is mainly driven by demand from the food packaging industry for flexible packaging, followed by the demand for rigid plastics from the food and non-alcoholic drinks sectors. The US is dominating the global flexible packaging market accounting for more than 75% of the share in North America. Imports of low-cost flexible packaging products are increasing because of the increasing demand from consumers in the US. However, this increase in imports is negatively affecting the producers in North America. The market is fragmented in this region as a large number of local and international players are competing with each other in this market. With increasing demand for eco-friendly flexible packaging materials and products, the manufacturers are innovating new products in flexible packaging which is leading to growth in the North America flexible market.
Competitive Trends
• Some of the key players in the market are Clondalkin, Bemis Company, Inc., Berry Plastics Corporation, Amcor Limited, Mondi Group, Sealed Air Corporation, ProAmpac LLC, American Packaging Corporation, Sonoco Products Company, Coveris Holdings S.A., Novolex Holding Inc., Huhtamaki Oyj, Printpack, Inc., Sigma Plastics Group and Winpak Ltd.
• The major players dominating the global flexible packaging market are: Amcor Ltd, Bemis Co. Inc., Sealed Air Corp., Sigma Plastics Group, and Berry Plastics Group Inc.
• Global players are introducing new technologies to improve production capacities for flexible packaging.
• In Feb 2018, Amcor launched its first commercial container utilizing breakthrough LiquiForm® technology. This technology helps in improving the consistency of packaging and lower the carbon footprint related to filling and packaging. In addition, Amcor partnered with Greenblendz, a Michigan-based co-packer, and developer of private label, environmentally-friendly consumer products, to develop and commercialize packaging for Nature’s PromiseTM brand of hand soap which is formed by LiquiForm Technology.
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About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
• Flexible packaging is any package or any part of a package which can change its shape based on the contents enclosed within. Common examples of flexible packaging are bags and pouches. From the beginning of adaptable films, the packaging industry has been disturbed towards gaining surprising potential. Internet business with effective logistic activity as its backbone is disrupting the flexible packaging market.
Market Dynamics
• Increasing consumer preference for convenient and appealing products, increase in technological innovations, growing food & beverages consumption and increased demand for plastic-based flexible packaging products are the vital drivers for the market growth. One of the major drivers for high demand in the flexible packaging market is the rising preference for aesthetically appealing products. Consumers tend to prefer packaged goods such as cosmetics, toiletries, and food products that are presented in an aesthetically appealing manner. Hence, manufacturers of food and other consumer packaged products spend large sums of money on developing packaging that is not only easy to open and convenient to use but is also visually appealing. For instance, some new pouch packaging such as that produced for baby food comes in a wide-variety of colorful packs and shapes.
• There have been numerous technological innovations in the market, which has led to an increase in the number of new products being offered by vendors to suit the varied needs of their customers. Manufacturers are looking for packaging solutions with high performance and also are focusing on reducing the manufacturing costs. Packaged food, beverage, and personal care product companies are demanding highly competitive, cost-efficient, and visually appealing packaging solutions. Such demands have compelled vendors to use new technologies to innovate their product offerings. For instance, over the last few years, there has been a shift toward using multilayer packaging solutions rather than simple paper bags. These multilayer packaging solutions are being developed with new materials such as self-venting films, which are used to pack frozen food products, and the food can be steam-cooked within the pack itself.
• Highly fragmented market, rising prices of raw materials and threat of substitution by other forms of packaging are the market restraints that hindering the growth of the market. The highly fragmented nature of the market is proving to be a major challenge for vendors. The presence of several players, both domestic and international, which are competing for increasing their share in the market, has led to the market is highly fragmented. There is also a high degree of fragmentation in each flexible packaging segment, whether it is paper, plastic, glass, or metal. The intensified price competition affects the profitability of vendors as they tend to reduce the prices of their products to survive in this competitive environment, which is a challenge for the overall market.
Market Segmentation
• Depends on the Product type, the market is divided into pouches, wraps, bags, and others.
• On the basis of end-user industry, the market is categorized into food, pharmaceutical and medical, beverages, personal care and household care, tobacco, and others. The Food flexible packaging market value is estimated to reach $XX billion by 2026 from an initial market value of $113.17 billion in 2018. The market is estimated to grow at a CAGR of XX% in the forecasted period 2018-2026. The food industry is the largest market for flexible packaging, accounting for more than 45% of consumption, followed by retail non-food, consumer products, pharmaceuticals, industrial applications and industrial non-food. In the food segment, meat, fish, and poultry account for the largest usage of flexible packaging, followed by confectionery and baked goods. The food segment is growing due to increasing women workforce, changing lifestyles, altering food habits, and rising demand for convenient food products. Increased shelf life, more stability while transporting, value-added features such as steam release packaging, easy-pour spouts, and custom closures are the current innovations in the flexible food packaging industry
• Based on material, the global market for flexible packaging is broadly segmented as paper, Aluminium, cellulosic and polymer. The polymer segment is estimated to reach a market value of $XX billion by 2026 from an initial market value of $173.13 billion in 2018. The market is estimated to grow at a CAGR of 4.92% in the forecasted period 2018-2026. This segment is expected to grow and dominate the Global Flexible Packaging market during the forecast period accounting for over 75% of the market share. The polymer is the most commonly used material in flexible packaging products due to its highly versatile nature which enables it to be converted into a number of shapes, sizes, and designs. Also, it is also more flexible, durable, and cost-efficient than other materials. Recently, the application of food‐grade flavor molecules which is added to polymer structure developed a film that releases odors/aromas on the inside or outside of a package (Byrne). New polymer technologies have improved materials toughness/puncture resistance, product protection, and equipment handling. In the last decade, materials have been reduced by up to 50% through these new polymer technologies.
Geographical Analysis
• The global Flexible Packaging Market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa. The global flexible packaging market was valued at US$ 227.51 billion in 2018, and is expected to reach a value of US$ XX billion by 2026, at a CAGR of 4.59% over the forecast period 2018-2026.
• Asia-Pacific has the highest market share of above 40% and is estimated to grow with a CAGR of 5.46% during the forecasting period. The Asia-Pacific flexible packaging market is estimated to reach a market Value of US$ XX billion by 2026 from an initial market value of US$ 94.89 billion in 2018. China is dominating the Asia-Pacific flexible packaging market with the highest market share of more than 35% in 2018 due to its shift from production-based to a consumption-based economic structure. With an increasing number of supermarkets in the Asia-Pacific region along with the technological advancements and innovations in the flexible packaging industry, the market is booming in emerging economies like China and India. Southern Packaging Group offers flexible packaging solutions for Pharmaceutical industry including medicines, medical devices and pesticide products. In Sept 2017, Huhtamaki acquired International Paper's foodservice packaging operations in China which will expand its manufacturing footprint into the Eastern China region.
• North American region accounted for 21 % of the global flexible packaging market in 2018. The North America flexible packaging market was valued at $48.03 billion in 2018, and is expected to reach a value of US$ XX billion by 2026, at a CAGR of XX% over the forecast period 2018-2026. The market is mainly driven by demand from the food packaging industry for flexible packaging, followed by the demand for rigid plastics from the food and non-alcoholic drinks sectors. The US is dominating the global flexible packaging market accounting for more than 75% of the share in North America. Imports of low-cost flexible packaging products are increasing because of the increasing demand from consumers in the US. However, this increase in imports is negatively affecting the producers in North America. The market is fragmented in this region as a large number of local and international players are competing with each other in this market. With increasing demand for eco-friendly flexible packaging materials and products, the manufacturers are innovating new products in flexible packaging which is leading to growth in the North America flexible market.
Competitive Trends
• Some of the key players in the market are Clondalkin, Bemis Company, Inc., Berry Plastics Corporation, Amcor Limited, Mondi Group, Sealed Air Corporation, ProAmpac LLC, American Packaging Corporation, Sonoco Products Company, Coveris Holdings S.A., Novolex Holding Inc., Huhtamaki Oyj, Printpack, Inc., Sigma Plastics Group and Winpak Ltd.
• The major players dominating the global flexible packaging market are: Amcor Ltd, Bemis Co. Inc., Sealed Air Corp., Sigma Plastics Group, and Berry Plastics Group Inc.
• Global players are introducing new technologies to improve production capacities for flexible packaging.
• In Feb 2018, Amcor launched its first commercial container utilizing breakthrough LiquiForm® technology. This technology helps in improving the consistency of packaging and lower the carbon footprint related to filling and packaging. In addition, Amcor partnered with Greenblendz, a Michigan-based co-packer, and developer of private label, environmentally-friendly consumer products, to develop and commercialize packaging for Nature’s PromiseTM brand of hand soap which is formed by LiquiForm Technology.
Enquire Before purchase: https://www.datamintelligence.com/enquiry/flexible-packaging-market
Download free sample: https://www.datamintelligence.com/download-sample/flexible-packaging-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results