“Growth in demand from the food & beverage industry to drive the market for flexible plastic packaging”
The global market for flexible plastic packaging is projected to grow from USD 102.19 billion in 2017 to reach USD 131.65 billion by 2022, at an estimated CAGR of 5.2%. The flexible plastic packaging market is driven by factors such as growth in demand for sustainable packaging, increase in the demand for flexible packaging, cost-effectiveness, and reduced packaging waste. Factors such as growth in the demand from the food & beverage sector and preference for convenient packaging are driving the demand for flexible plastic packaging. Emerging markets, such as the Asia-Pacific region, have contributed to an increase in the application of flexible plastic packaging in packaging products. Stringent regulations is a restraining factor for the flexible plastic packaging market.
“Stand-up pouches segment, by type, projected to grow at the highest CAGR during the forecast period”
The thermoforming technology, by technology, is projected to grow at the highest CAGR between 2017 and 2022.
The increasing demand from food packaging and e-commerce industries is driving the expansion of stand-up pouches in the flexible plastic packaging market. It also provides factors such as excellent printability, zipper re-closure, pour spouts, slider closures, release valves, and strong shelf presence. Stand-up pouches also offer high clarity and excellent barrier properties to the product enclosed within. They are increasingly being adopted by several industries for packaging their products, which include packaging of food, beverages, fertilizers, pet food, and cosmetics.
“Asia-Pacific to gain maximum traction during the forecast period”
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by South America. In Asia-Pacific, China is the largest consumer for flexible plastic packaging, followed by India. China, with its growing food & beverage, healthcare, and consumer goods industries, is expected to drive the flexible plastic packaging market. India, with its growing inclination toward convenient products packaging, is expected to influence the flexible plastic packaging market in the Asia-Pacific region.
Breakdown of primaries
Primary interviews were conducted with a number of industry experts to collect data related to different aspects of flexible plastic packaging. The distribution of primary interviews is as follows:
• By Company Type: Tier 1 – 31%, Tier 2 – 37%, Tier 3 – 32%
• By Designation: C level – 65%, Manager level – 35%
• By Region: North America – 25%, Europe – 28%, Asia-Pacific – 22%, South America – 10%, Middle East & Africa – 15%
The various suppliers of flexible plastic packaging and related products in the report are as follows:
1. Amcor Limited (Australia)
2. Bemis Company, Inc. (U.S.)
3. Constantia Flexibles Group GmbH (Austria)
4. Sealed Air Corporation (U.S.)
5. Huhtamäki Oyj (Finland)
6. Coveris Holdings S.A. (U.S.)
7. Sonoco Products Company (U.S.)
8. Berry Plastics Group, Inc. (U.S.)
9. Mondi Group (Austria)
10. Reynolds Group Holdings (New Zealand)
11. Reynolds Group Holdings (The Netherlands)
The report defines, segments, and projects the flexible plastic packaging market size on the basis of type, material, printing technology, application, and region. The study analyzes competitive developments such as acquisitions, expansions, new product developments, and research & development activities in the flexible plastic packaging market.
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the flexible plastic packaging market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.