Global Flexible Packaging Market - 2019-2026
発行: DataM Intelligence
Global Flexible Packaging Market- Overview
Flexible packaging is widely used in the food and beverage packaging. It helps extending the shelf-life of fresh fruits and vegetables and reducing the package weight. In addition, flexible packaging is a key component of most of the packages using the rapidly expanding high-pressure pasteurization technology for minimally processed foods such as fresh-pressed juices and wet salads and sauces. It is also easier to handle and store, making transportation of goods a lot smoother.
The global flexible packaging market was worth USD XX billion in 2018 and is expected to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period 2018 to 2025.
Global Flexible Packaging Market- Market Dynamics
Rising Food & Beverages industry is one of the major driver leading to the growth of the global flexible packaging market. The F&B sector is a major consumer of plastic packaging as the products in this sector are fast moving and need to be light and economical to reduce transportation costs and to facilitate immediate disposal.
Also, different consumption habits give rise to the need for innovation in packaging, which is best implemented in plastic packaging. Demand for packaged food and beverages among consumers across various developing countries has propelled the demand for flexible packaging products worldwide.
Raw material price increases are threatening the financial backbone of the flexible packaging industry. However, manufacturers are finding it difficult to use this to their advantage as the prices of raw materials are increasing, and this may affect the demand for flexible packaging in the future.
Furthermore, the prices of the raw materials used in flexible packagings, such as aluminium, plastic, and paper, are volatile. The increase in the price of raw materials such as plastic resins not only increases the manufacturing cost of flexible plastic packaging but also leads to reduced profit margins for the vendors. In addition, the widening of the demand-supply gap in the last few years has led to a substantial increase in the cost of raw materials.
Global Flexible Packaging Market- Segment Analysis
The global packaging market is categorized by a material such as Polymer or (Plastic),(Polyethylene, Polypropylene, Polyethylene terephthalate, and Others), Paper, Aluminium, and Cellulosic. Of this Plastic among the largest segment in the market. Plastic packaging, in general, is lightweight and strong. Plastics can be molded, extruded, cast and blown into seemingly limitless shapes and films or foams. This resourcefulness often delivers while using minimal resources, creating less waste, consuming fewer resources and creating fewer CO2 emissions than alternative materials. Plastics make packaging more efficient, which ultimately conserves resources.
Furthermore, Plastics are the perfect materials for shipping and storing intricate devices, drugs and other medical instruments. Whether they're essential medical supplies such as IV bags and syringes or lifesaving medical devices such as incubators and dialysis machines, plastics help improve health and save lives around the world. Additionally, there is a growing trend of incorporating recycled content in secondary product packaging applications, such as package overwrap and pallets which may propel the market growth in the upcoming years.
Global Flexible Packaging Market- Geographical Analysis
Geographically, the Global Flexible Packaging Market has been segmented into Asia-Pacific, North America, South America, Europe, and Rest of the World. Among all the regions, Asia Pacific dominated the market owing to its shift from production-based to a consumption-based economic structure. In addition, with an increasing number of supermarkets in the Asia-Pacific region along with technological advancements and innovations in the flexible packaging industry, the market is booming in emerging economies like China and India.
In the United States, the Food and Drug Administration regulates the safety of food-contact packaging, including plastics used in contact with food. Many plastics, such as polystyrene and polyethylene, have been used in food packaging for decades. All food-contact packaging materials must pass FDA's stringent approval process-the agency must find them safe for use in a specific packaging application before they can be put on the market.
Furthermore, a recent national study found that more than 90% of Americans can recycle plastic bottles in their communities. Over 3.0 billion pounds of plastic bottles (for beverages, household cleaners, detergents, etc.) were recycled in the U.S. in 2015. Today nearly 32% of plastic bottles are recycled.
Global Flexible Packaging Market- Competitor Analysis
The major players include Clondalkin, Bemis Company, Inc., Berry Plastics Corporation, Amcor Limited, Mondi Group, Sealed Air Corporation, ProAmpac LLC, American Packaging Corporation, Sonoco Products Company, Coveris Holdings S.A., Novolex Holding Inc., Huhtamaki Oyj, Printpack, Inc., Sigma Plastics Group, and Winpak Ltd. Companies have adopted strategies such as acquisitions, expansions, and new product launches to cope with the increase in demand in emerging markets.