A package or container made of flexible material when filled or closed can be readily changed into any shape. The structure may be of paper, plastic film, foil or any combination of these. Flexible packaging is the considered to be the most economical technique of packaging, preserving and dispensing food & beverages, household consumables, medicines and other products for which extended shelf life is a prerequisite. Flexible packaging can be manufactured in an extensive variety of innovative forms, dimensions and appearances, and can comprise mechanisms such as holders and opening and reclosing types such as zips and stand up pouches.
Flexible packaging market is a mature industry which has numerous stake holders, which include raw material suppliers, processors, packaging manufacturers, and end-user industries like food, beverage, personal care products, and pharmaceuticals. The end-use industry and their wrapping and packaging are two interrelated industries. Any change in one of these industries will unswervingly affect the other market. Increase in the consumption of packaged products provides a strong potential for the manufacturers of flexible packaging market. Packaging is indispensable to preserve the quality of the product along with preventing it from chemical reactions jeopardizing the customer’s health. Hence, an impeccable and suitable packaging technique is imperative for every end use product, which is why there is a budding demand for flexible packaging market.
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The global market for flexible packaging is estimated to be $XX billion in 2015. The global market for flexible packaging is estimated to grow at a CAGR of XX% and is forecast to reach $XX billion by 2021. The packaging market can be divided into by type, industry, packaging type and geography. Plastics are the majorly used materials for flexible packaging, while other materials being utilized include aluminum foil, paper, bio plastics and others. The key end users to which flexible packaging market cater its applications are food & beverage, personal care, pharmaceuticals, oil and lubricants. In the flexible packaging market, pharmaceutical packaging is the fastest growing market with a CAGR of XX% during the forecast period.
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Due to the increased health consciousness among public coupled with rising consumption of generic drugs, the pharmaceutical packaging industry is displaying strong improvements in the demand for flexible packaging. This is being followed by, the food packaging industry which is anticipated to be the second fastest growing market by 2021, mainly attributed to the increase in consumption of packaged food.
Geographically, the global flexible packaging market is divided into Americas, Europe, Asia Pacific, and Rest of the World. The highest demand for flexible packaging is foreseen from Asia Pacific and this region is anticipated to register XX% CAGR from 2016 to 2021. Key aspects like escalating demand for pharmaceutical products, packaged food and retail non-food items, along with developing consumption habits and altering lifestyles have all contributed for the growth of the Asia Pacific flexible packaging market.
Some of the key players of the flexible packaging industry include:
- Amcor Limited (Australia)
- Huhtamaki Group (Finland)
- Sonoco Products Company (U.S.)
- Sealed Air Corporation (U.S.)
- Mondi Group (South Africa)
- Clondalkin Group Holdings B.V. (The Netherlands)
- Ampac Holdings, LLC (U.S.) to name among a few others.
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