Global Flexible Packaging Market to Reach Revenues of Over $186 Billion by 2024- Market Research Report by Arizton

CHICAGO, Sept. 11, 2019 /PRNewswire/ -- According to Arizton's recent research report Flexible Packaging Market – Global Outlook and Forecast 2019-2024, the global flexible packaging market is expected to reach revenues of over $186 billion by 2024, growing at a CAGR of over 4% during the forecast period.

Key Highlights Offered in the Report:

1. The use of recyclable plastics and complete shift to such materials by key vendors (on account of Governmental push for sustainable packaging) will reduce the conventional virgin polymer usage and consequently, the price of end packaging products is expected to be higher in North America and Europe.
2. In the developed regions of North America and Europe, the flexible packaging market will continue its strong volume performance in tier 1 cities and gain momentum in tier 2 and tier 3 cities from 2021 onwards.
3. The stand-up pouches are the most sought-after pouch products that witnessed a demand of more than 80 billion units in 2018. The US alone witnessed a demand of more than 10 billion units in 2018
4. New market entrants are mainly operating in either high-volume, largely commoditized flat pouches or niche, high- barrier stand-up pouches.
5.  In the pouch category, the high-end retort pouches have witnessed increased adoption in emerging countries. However, in the mature markets of North America and Europe, the growth momentum of retort pouches was impacted on account of introduction of retortable trays and bowls with flexible lidding.
6. The non-conventional food categories such as soup, confectionery, juice, and nut butter could also see traction and provide higher volumes to the packaging industry (over 6% to 10% higher), as stand-up pouches are being modified accordingly by adding stand caps, spout caps, zipper closures, plastic, and air-filled grips

Key Offerings:

• Market Size & Forecast by Revenue| 2018−2024
• Market Dynamics –  Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by material, products, printing, packaging, end-users, and geography
• Competitive Landscape – Profile of 8 key vendors and 20 other vendors

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Flexible Packaging Market – Segmentation

• The food industry, which constitutes a share of more than 60% of the packaging market, is the major demand contributor for flexible plastic pouch packaging.
• The growing need to increase the shelf life of food products is one of the major factors for the adoption of flexible packaging in the F&B industry.
• While flexographic printing is most widely adopted in North America and South America, rotogravure printing has a significant share in the APAC market.

Market Segmentation by Material

• Flexible Plastic
• Flexible Paper
• Foil

Market Segmentation by Printing

• Flexographic
• Rotogravure and Others

Market Segmentation by Packaging

• Consumer Packaging
• Industrial Packaging

Market Segmentation by End-users

• Food and Beverages
• Healthcare
• Personal Care
• Pet food
• Others

Market Segmentation by Products

• Bags
• Pouches
• Others

Market Segmentation by Geography

• North America
• Europe
• MEA
• APAC
• Latin America

Flexible Packaging Market– Dynamics

The growing regulatory compliance to ensure the complete lifecycle of plastic production (resin or film) is redesigned, is driving the demand for sustainable flexible packaging. Sustainability practices focus on recovering plastic products and recycling them.  

Key Drivers and Trends fueling Market Growth:

• Increased Focus on Sustainable Flexible Packaging
• Usage of High Barrier Plastic Packing Materials
• Increase in Pouch Packing across Several End-users

Flexible Packaging Market –Geography

The demand for flexible packaging from food, pharmaceuticals, and industrial secondary/tertiary packaging is expected to drive the APAC market. Japan is expected to provide high growth opportunities to the flexible packaging market due to the increased demand for packed food from the elderly population (above 65 years). Also, China, India, and other southeast Asian countries are emerging as growth drivers for the APAC region.

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Market Segmentation by Geography

• ·  North America
• US
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea      
• New Zealand
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• MEA
• South Africa
• Turkey
• UAE
• Saudi Arabia
• Egypt

Major Vendors

• Amcor
• Edgewell
• Berry Global
• Mondi
• Sealed Air
• TC Transcontinental
• Sonoco
• Huhtamaki

Other vendors include American Packaging Corp., Bischof + Klein, Constantia Flexibles, Glenroy, Global-Pak, Greif, Innovia Films, International Paper, Novolex, Printpack, ProAmpac, Reynolds Group, RPC Group, Sigma Plastics, Smurfit Kappa, Stora Enso, Uflex, and Westrock

Explore our logistics and packaging profiles to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence