Global flexible packaging market was estimated at 19,800
kilo tons in 2014. Increasing population in developing countries namely India
and China are expected to result in the rise in demand for food, thus leading
to the growth of the market. Advantages of the product including variety in
container packaging, less raw material, light weight and ease of disposal are
anticipated to propel further growth.
Market players have been
increasingly focusing on compact packaging which has led to the development of
pouch and flexible segment over the past years. Furthermore, reduction in
storage requirements, shifting consumer preference towards various packaging
designs and styles, and lower shipping costs is expected to drive the market.
However, fluctuation in raw material prices is expected to restrain growth over
the next seven years.
Food & beverage accounted for
approximately 80.0% of the overall market share in 2014. Growing demand for
packaged food such as snack foods, cake mixes and ready-to-eat meals is
expected to provide a platform for manufacturers to expand their production
capacity, thereby increasing demand for the product over the forecast period.
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The pharmaceutical segment was
the second largest application and accounted for over USD 16 billion in 2014.
Frequent incidences of lifestyle-related diseases such as high blood pressure,
obesity and diabetes amongst the working population mainly in BRICS is
anticipated to intensify demand for pharmaceutical products, thus leading to
growth in demand for flexible packaging over the next seven years.
Plastics and bioplastics are the
principal raw materials used by manufacturers of flexible packaging. Use of
bio-based PLA films in snack packaging and bakery & confectioneries have
resulted in growing demand for numerous applications due to biodegradable
nature and easy recyclability. The increasing use of plastics for the
production of pouches, tetra packs, and bags owing to less raw material
requirement and low costs are projected to have a positive impact on market
growth.
In 2014, Asia Pacific contributed
to over 35.0% of the overall share by volume. Establishment of numerous
manufacturing units and food & beverage units in developing countries such
as India and China, as a result of rapid industrialization, is expected to have
a positive impact on the flexible packaging market over the forecast period.
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insight by Grand View Research:
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Europe emerged as the second
largest player in the flexible packaging market with demand worth USD 54.7
billion in 2014. Growing healthcare sector in Europe is expected to fuel the
growth of the pharmaceutical industry.
Major firms include Coveris,
Sufpack, Amcor, Toppan Printing, Bemis Sealed Air, Fujimori Kogyo, and
Bischof& Klein. Key competitors are anticipated to shift manufacturing base
to emerging economies such as China and India on account of lower labor wages
and high productivity index.dia on account of lower labor wages and high
productivity index.
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