Flexible Plastic Packaging Market worth USD 131.65 Billion by 2022, registering a CAGR of 5.2%
The report [215 pages] "Flexible Plastic Packaging Market by Type (Stand-Up Pouches, Flat Pouches, Gusseted Bags, Wicketed Bags, Wraps, Rollstock), Material (Plastic Films, Paper, Aluminum Foil, Bioplastics), Printing Technology, Application, and Region - Global Forecast to 2022", is projected to grow from USD 102.19 Billion in 2017 to reach USD 131.65 Billion by 2022, at a CAGR of 5.2%. The global flexible plastic packaging market is witnessing a growth in demand, owing to the rise in manufacturing activities and growth in the demand for conveniently packaged products. The growth in the demand from the food & beverage industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and South American regions.
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Premium Insights of the report:
- Developing Economies to Witness High Demand for Flexible Plastic Packaging
- Flexible Plastic Packaging Market, By Material & Region
- Asia-Pacific: Flexible Plastic Packaging Market, By Type
- Flexible Plastic Packaging Market, By Application & Region
- Asia-Pacific: Flexible Plastic Packaging Market, By Country & Application
- Flexible Plastic Packaging Market: Regional Snapshot
This report has been segmented on the basis of type, material, printing technology, application, and region. On the basis of material, the plastic films segment, which is projected to be the fastest-growing market during the forecast period, held the largest share in 2016. On the basis of printing technology, the flexography segment accounted for the largest share in 2016, while the food & beverage segment dominated the applications of flexible plastic packaging in 2016. Both these subsegments are projected to grow at the highest rates between 2017 and 2022, in their respective segments.
In terms of value, the stand-up pouches segment was accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to pouches as they are among those innovative forms of flexible plastic packaging that help in terms of their ease of use and portability. Stand-up pouches offer many features such as zipper re-closure, pour spouts, slider closures, release valves, and strong shelf presence. They also provide high clarity and excellent barrier properties to the product enclosed within.
In terms of value, the plastic films segment, by material, accounted for the largest market share and is projected to grow at a higher CAGR during the forecast period. This growth is due to its application in almost all types of packaging variables, as it offers good visibility to the product and provides secure & attractive packaging. Plastic films are also used as raw materials to manufacture flexible plastic, which is widely used in the packaging sector as it is durable, clean, lightweight, transparent, and cost-effective.
Under the application, the food & beverages sector is projected to grow at the highest rate due to the high demand for food & beverages packaging as it offers durability, product protection, and extends the shelf life of the product. Flexible plastic packaging for food & beverage products reduces the possibility of product contamination. It also protects products from moisture, gas, light, and temperature.
The market ecosystem involves various stakeholders in the flexible plastic packaging market. It starts with the raw material suppliers such as Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Constantia Flexibles Group GmbH (Austria), Sealed Air Corporation (U.S.), and Huhtamäki Oyj (Finland), that are the manufacturing companies of the flexible plastic packaging. The next level in the chain involves the assembly team that is monitored by the manufacturers such as Coveris Holdings S.A. (U.S.), Sonoco Products Company (U.S.), Berry Plastics Group, Inc. (U.S.), Mondi Group (Austria), Reynolds Group Holdings (New Zealand), and Reynolds Group Holdings (Netherlands). It is followed by the marketing and sales of the finished products, which is only possible if an efficient distribution channel is developed. Finally, the end products are distributed to the consumers.
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