Flexible Packaging Market Size Will Grow At A CAGR Of 4.7% From 2015 to 2022: Grand View Research, Inc.
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.
Browse Full Research
Report By Grand View Research:
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.
Browse more reports of this category by Grand View
Research:
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.
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.
Access
press release by Grand View Research:
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For
more information:
Comments
Post a Comment