You are here
Flexible Packaging Market Global Research Report 2018 Analysis & Forecast to 2023
Market Research Future added New Report Named "Global Flexible Packaging Market Research Report- Forecast 2023" to its Database.
Flexible packaging is a rapidly growing segment in the global packaging industry, and it integrates the best qualities of plastic film, aluminum foil, and paper to offer a wide range of protective properties. It can take the shape of a bag, pouch, or any part of a package whose shape can be readily changed. Such packaging is used for various products in consumer as well as industrial applications to protect, market, and distribute a variety of products.
According to the MRFR analysis, the flexible packaging market is swelling at a rapid pace and is anticipated to increase significantly over the forecast period. The global flexible packaging market is estimated to grow at a CAGR of 5.92% during the estimated period (2017-2023).
Get Sample Report with Complete TOC @ https://www.marketresearchfuture.com/sample_request/1151
The flexible packaging market is compelled by several factors such as increased consumption of packed and wrapped foods & beverages. Moreover, environmental benefits of flexible packaging are also stimulating the growth of the market. Flexible packaging contains low raw material consumption, low carbon emission, and comparatively low waste production as compared to conventional packaging formats. It reduces energy usage. For e.g., to produce a pouch for food package needs 75% less energy and produces just 1 /10 of CO2 emissions during manufacturing than a metal can for the equivalent amount of product.
On the basis of the regions, the global flexible packaging market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region accounted for the 29.41% share of the market in 2016, in terms of value. It is expected to grow at a CAGR of 6.18% during the forecast period. Exponential growth in the packaging industry in Asia Pacific region is the key factor fueling the growth of the market. Increasing number of a supermarket in the region is also likely to boost the demand for flexible packaging products. China, India, Japan, and Thailand are the main contributor to the Asia Pacific market. China accounts for the largest market share in the region due to rapid urbanization and industrial development.
North America is another major flexible packaging market in the globe. Expansion in confectionery, dairy, and medical industry, technological advancement in barrier materials coupled with rising retail business, stand up pouches usage are likely to trigger the industrial growth.
High growth in the retail as well as the pharmaceutical industry is driving the growth of the North American market. Moreover, the region is the hub of major flexible packaging manufacturers such as Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), and Bemis Company Inc. among others. The U.S. accounted for the major share of the North American market.
Hence, Global Flexible Packaging Market is expected to reach USD 342.85 billion by the end of the forecast period at CAGR of 5.92%.
The prominent players in the flexible packaging include Amcor Limited (Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.), and Ampac Holdings LLC (U.S.).
Browse Complete Report@ https://www.marketresearchfuture.com/reports/flexible-packaging-market-1151
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
+1 646 845 9312
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.