NEW YORK, June 6, 2016 /PRNewswire/ -- The global 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% from 2016 to 2021. The flexible packaging market is driven by growing end user industries such as food & beverages, cosmetics & toiletries, healthcare, and others (household products, oil & lubricants, agricultural products, and sporting goods). Furthermore, changing consumer lifestyles and growing consumption of ready-to-eat and pre-made meals are the biggest factors leading to increase in demand for convenient flexible packaging which also increases the safety of food & beverage products.
"Retort pouches segment is projected to grow at the highest rate during the forecast period"
The retort pouches segment is projected to grow at the highest rate among all pack types. This is mainly because of the growing consumption of ready-to-eat meals and excellent barrier properties provided by retort pouches against oxygen, moisture, and other contamination. However, the stand-up pouches segment is projected to account for the largest market share in 2021 owing to its various functional characteristics and eye-catching shelf appeal.
"Asia-Pacific accounted for the largest market share in 2015"
The global flexible packaging market is segmented, region-wise, into North America, Europe, Asia-Pacific, Middle East, and RoW. The Asia-Pacific region accounted for the largest share among all the regions in 2015 and is projected to grow at the highest rate from 2016 to 2021. This is mainly due to increasing demand from end-user industries from countries such as China, India, and Japan, coupled with the growing population and increasing disposable income in these countries.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of flexible packaging. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 39%, Tier 2 – 37%, Tier 3 – 24%
- By Designation: C level – 38%, Director level – 36%, Others – 26%
- By Region: Europe - 37%, North America – 33%, Asia-Pacific – 15%, Rest of the World – 15%
The various suppliers of flexible packaging and related products in the report are as follows:
1. Amcor Limited (Australia)
2. Bemis Company, Inc. (U.S.)
3. Constantia Flexible Group GmbH (Austria)
4. Huhtamaki Group (Finland)
5. Sonoco Products Company (U.S.)
6. Sealed Air Corporation (U.S.)
7. Mondi Group (South Africa)
8. Clondalkin Group Holdings B.V. (The Netherlands)
9. Coveris Holdings S.A. (U.S.)
10. Ampac Holdings, LLC (U.S.)
This report will help the market leaders/new entrants in the flexible packaging market in the following ways:
1. This report segments the market for flexible packaging comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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