Flexible packaging is one of the growing trends in the packaging industry. Flexible plastic packaging involves various types of plastic material used for the packaging of different products. The type of material to be used in packaging depends upon the application and type of product to be packaged. Generally, plastic materials such as Polyethylene, Polypropylene, polystyrene, and polyvinyl chloride are used in flexible plastic packaging. Flexible packaging is considered to be the most convenient and economical way to preserve, distribute and package food items, beverages, pharmaceutical products and several consumables. The growth of flexible plastic packaging market is attributed to the increase in the demand for light weight and cost-effective packaging solutions globally due to the surge in demand for foodstuffs and pharmaceutical goods during the COVID-19 pandemic. The growth in the end-use industries (such as food, beverage, cosmetics, and pharma & healthcare) has generated new opportunities for the flexible plastic packaging market. However, factors such as volatility in the raw material prices and recyclability of plastic may inhibit the growth of the market.
Request a Report Sample to Gain Comprehensive Insights at: https://www.marketsandmarkets.com/requestsampleNew.asp?id=183679855
MarketsandMarkets expects the global flexible plastic packaging market size to grow from USD 160.8 billion in 2020 to USD 200.5 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. The market for flexible plastic packaging is segmented, on the basis of type, into pouches, wraps, rollstock, bags, and others (include labels, sachets, and stick packs). Pouches segment is projected to dominate the market for flexible plastic packaging by 2025. The flexible plastic packaging market has witnessed a significant increase in the demand for pouches for the supply of medecines, vegetable, meat, and goods to the respective stores, retailers, pharmacies, and hospitals, during the COVID-19 pandemic. Furthermore, the increasing opportunities in e-commerce and offline retail sectors have resulted in accelerating demand for pouches in the flexible plastic packaging applications.
On the basis of application, food segment is projected to be the largest segment in the flexible plastic packaging market during the forecast period. The increase in exports of vegitables and meat from Southeast Asia and Europe is expected to boost the demand for flexible plastic packaging, by 2025. The fruits and meat distributors prefer flexible flexible plastic packaging to pack their products, due to their low cost and ability to offer longer shelf life to the product. In a way, flexible plastic packaging ensures a prolonged shelf life of the products that helps in efficient distribution and minimizing losses.
The flexible plastic packaging market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The APAC region accounted for the largest market share in 2019, in terms of both value and volume. Furthermore, the market for flexible plastic packaging in the APAC region is also projected to grow at the highest CAGR from 2020 to 2025, in terms of both value and volume.
Get Customization on this Research Report for Specific Research Solutions at: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=183679855
The growth of the flexible plastic packaging market is attributed to the increase in demand from various end-use applications. Consumers are resorting to panic-buying and bulk stocking due to the fear of lockdowns during the COVID-19 pandemic. Increasing number of people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for flexible plastic packaging solutions.
Amcor Limited (Australia), Mondi Group (UK), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland), Sappi Global (South Africa), DS Smith (UK), Coveris Holding SA (UK), Sabert (US), Wihuri (Finland), amongst others, are the key players operating in the flexible paper packaging market.
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
