The author projects that the market for flexible packaging is projected to grow from USD 97.97 Billion in 2016 to USD 125.66 Billion by 2021, at an estimated CAGR of 5.11%
The demand for flexible packaging is increasing from various end user industries such as food & beverages, cosmetics & toiletries, healthcare, and others (oil & lubricants, electronic goods, agricultural products, and sporting goods). Growing manufacturing industries has led to the increase in the demand of flexible packaging, especially in the emerging markets in Asia-Pacific and Latin America.
The flexible packaging market is segmented on the basis of material, pack type, printing technology, application, and region. On the basis of material, the plastic films segment accounted for the largest market share in 2015, and is projected to grow at the highest rate during the forecast period, in terms of both volume and value. This is primarily because of their high quality, low cost, and excellent barrier properties.
The retort pouches segment is projected to grow at the highest rate during the forecast period owing to its high barrier properties against oxygen and moisture. In this type of packaging, the food is thermally processed in order to increase the shelf life. The stand up pouches segment is estimated to account for largest market share in 2021.
Flexography is the most widely used printing technology among other technologies; in 2015, this segment accounted for the largest share, in terms of both, volume and value. The digital printing technology segment is projected to grow at the highest rate by 2021. Digital printing is much cheaper than other technologies and provides a wide range of printing options.
On the basis of application, the flexible packaging market is segmented into food & beverages, cosmetics & toiletries, healthcare, and others (household products, oil & lubricants, agricultural products, and sporting goods). The food & beverages segment accounted for the largest market share in 2015, and is projected to grow at the highest rate from 2016 to 2021. Changing consumer lifestyles and the growing consumption of food & beverage products will drive the flexible packaging market.
The global flexible packaging market is segmented, region-wise, into North America, Europe, Asia-Pacific, and RoW. The Asia-Pacific region is projected to grow at the highest rate from 2016 to 2021. The rising economy and the rapid growth in the food & beverage and healthcare sectors of the Asia-Pacific region have significantly impacted the growth of the flexible packaging market.
Mergers & acquisitions accounted for 59% of the total strategic growth developments adopted by key players in the flexible packaging market from 2011 to 2015. Companies adopted these strategies to increase their geographical reach and strengthen their product portfolios and were largely adopted by the leading flexible packaging products manufacturing companies.
Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Constantia Flexibles Group GmbH (Austria), Huhtamaki Group (Finland), and Sonoco Products Company (U.S.) are some of the leading key players that adopted these strategies.
- Amcor Limited
- Ampac Holdings, LLC
- Bemis Company, Inc.
- Clondalkin Group Holdings B.V.
- Constantia Flexibles Group GmbH
- Coveris Holdings S.A.
- Huhtamaki Group
- Mondi Group
- Sealed Air Corporation
- Sonoco Products Company
For more information visit http://www.researchandmarkets.com/research/5v3skv/flexible
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SOURCE Research and Markets