The food, pharmaceuticals, and beverage industries are the major application areas for flexible plastic pouches.
Arizton’s recent market research report on the global Flexible Packaging Market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights on segmentation by materials (flexible plastic, flexible paper, and foil), products (bags and sacks, pouches, and others), printing (flexographic and rotogravure, and others), application (consumer and industrial), end-user (F&B, healthcare, personal care, pet food, and others), and geography (APAC, Europe, North America, Latin America, and MEA).
The global flexible packaging market is expected to grow at a CAGR of over 3% during the period 2018−2024
Packaging is evolving to cater to the changing needs and preferences of customers. Earlier the main aim of packing was to protect the product during transit. However, with advances in technology and materials, the packaging industry caters to diverse needs, including brand promotion and regulatory compliance. The industry is diverse with different packing types and materials. The advent of plastic packing has widened the scope for brands to experiment with different materials.
The global flexible packaging industry is segmented into materials, products, printing, end-user, application, and geography.
Flexible Plastic Packaging to generate Maximum Revenue
Pouches have the highest demand in the flexible plastic packaging market and are sold in the form of a film or pre-made pouches. Stand-up pouches are growing at an annual rate of 8%, as these use 60% less plastic and are convenient. The growth opportunities for flexible plastic pouches have multiplied with the advent of spout fitments as beverages can now be packed in pouches. Flexible plastic pouches consume 60% lesser plastic than rigid packaging, with a higher product to package ratio. The US beverage industry currently holds more than 12% market share. In the food sector, the pouch packaging market occupies 35% share. The food, pharmaceuticals, and beverage industries are the major application areas for flexible plastic pouches. The demand for flat pouches will be majorly from healthcare and meat, poultry, and seafood applications.
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APAC Food Industry to lead Flexible Plastic Consumption
The food industry has been witnessing tremendous growth in China, India, and other South East Asian nations, thereby aiding the growth of flexible packaging in APAC. The growth in flexible packaging is also supported by the expected shift/outsourcing of food manufacturing and processing to emerging markets in APAC to cater to the growing demand in this region. Packaging food technology has improved considerably with the usage of technologies such as MAP, vacuum packaging, aseptic packaging etc., thereby adding more food products in the flexible packaging category. Currently, China contributes approx. $900 billion revenue to the F&B industry.
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Pouches to grow at the highest CAGR by 2025
The APAC region leads in the consumption of pouches, they are finding in the packaging of petfood (especially wet food), while the other regions use cans and large-scale shift to flexible pouches is expected during the forecast period. The automation of the food processing industry in India, China, and Middle East countries have propelled the pouch market with higher run capacity. The demand for flexible packaging in Australia ranges from smaller packs such as sachets and stick packs to retort pouches and microwavable pouches. Pouches are witnessing high application in the medical sector on account of aging population, self-use medical devices, increase use of OTC drugs, vitamin, and another supplementary intake.
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Amcor, Berry Global, Mondi, Sealed Air, TC Transcontinental, Sonoco, and Huhtamaki are key and prominent vendors in the global market.
The complete overview of the latest market research report on the global flexible packaging market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
Read the report on Flexible Packaging Market - Global Outlook and Forecast 2019-2024
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