The global flexible packaging market size will develop at a 6.09% CAGR between the forecast period 2017- 2023, according to the new Market Research Future (MRFR) analysis. Flexible packagings are containers or packages made of flexible materials or materials which, when closed or filled, can bend and still hold the shape. It is generally made of foil, plastic film, paper, or a combination of any of these.
Various factors are propelling the global flexible packaging market share. According to the recent MRFR market estimates, such factors include increased demand in the pharmaceutical, cosmetics and personal care, and food & beverage sectors, development in modern retailing, consumers high income, rise in e-commerce activities in emerging economies, technological advancements, innovations in flexible packaging, and increased consumption of processed foods and beverages during the COVID-19 pandemic.
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On the contrary, strict regulations on packaging material waste & recycling, environmental and recycling concerns, and fluctuating raw material costs are factors that may impede the global flexible packaging market size over the forecast period.
The global flexible packaging market has been segmented based on application, printing technology, product type, and material. On the basis of application, the market for flexible packaging is segmented based on food & beverage, personal care, pharmaceutical, and others. Additionally, the market on the basis of printing technology, is segmented into flexography, digital printing, and others. The global market for flexible packaging is also covered based on the product type segment which is further split into pouches, bags, wraps, and others. On the basis of material, the market for flexible packaging is segmented based on plastic, paper, aluminum foil, and others.
Major elements such as lack of awareness could obstruct the flexible packaging market growth. However, according to the flexible packaging market research report, rising demand from various end-use industries along with the growing demand for RTD and on-the-go foods will propel growth throughout the forecast period. The flexible packaging market is set to register growth at a high CAGR owing to these key factors. The exploration of application, printing technology, product type, and material segments along with regional markets has been given in the global flexible packaging market research report. The research analysts studying the flexible packaging market have put out market forecasts in the flexible packaging market research report in order to support flexible packaging market-based companies. The flexible packaging market research report provides an extensive understanding of the flexible packaging market based on the information and forecasts till 2025.
By region, the flexible packaging market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. Japan, India, and China being the leading exporters of goods, booming e-commerce market, rising internet penetration, and favorable government strategy are adding to the global flexible packaging market growth in the region.
In the APAC region, the flexible packaging industry will have a healthy growth over the forecast period. Developing food and beverage sector in India and China, rising demand for packaged food, consumers rising disposable income, improving global economy, the expanding working population, growing domestic demand for convenience and ready-to-eat food products, growing personal care and cosmetics and pharmaceutical industries, and functional properties offered by flexible plastic packing like handling convenience, eco-friendliness, lightweight, strength, durability, cost-effectiveness, and safety are adding to the global flexible packaging industry growth in the region.
In Europe, the flexible packaging market is predicted to have sound growth over the forecast period. Increasing research and development expenditure on the pharmaceutical industry and demand for personal care products in the UK, France, Italy, and Germany are adding to the global flexible packaging market growth in the region.
In the Rest of the World, the flexible packaging market is predicted to have steady growth over the forecast period. The developing pharmaceutical industry, rising health expenditure, and government support are adding to the global flexible packaging market growth in the region.
Increasing population and rapid industrialization are presumed to drive the flexible packaging market growth worldwide. The global flexible packaging market could be challenged by availability of substitutes, nevertheless, organizations in the flexible packaging market will carry the growth rate forward. The flexible packaging market research report presents company profiles of major companies active in the flexible packaging market globally. Furthermore, the global flexible packaging market report offers an all-inclusive analysis of the market collected from the flexible packaging market’s primary and secondary sources covering both decision makers and thought leaders. The flexible packaging market research report highlights such key areas assisting businesses operating in the flexible packaging market to build better growth strategies.
Key contenders profiled in the flexible packaging industry report include CLONDALKIN GROUP (The Netherlands), Reynolds (New Zealand), Berry Global Inc. (US), CONSTANTIA (Austria), Mondi (Austria), HUHTAMAKI GROUP (Finland), COVERIS (US), Sonoco Products Company (US), Sealed Air (US), and Amcor Limited (Australia), among others.
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The members of the Flexible Packaging Europe (FPE) association say in a recent statement that they are "very concerned" about the recent developments on the European polymer markets. Over a very brief time, manufacturers of flexible packaging have faced a growing number of declarations by the leading polymer manufacturers in Europe about "force major" or "maintenance" advertisements which generate sudden and significant shortages along with price increases in the supply chain, according to the authorities.
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