The flexible packaging market was valued at USD 250.75 billion in 2019, and it is expected to reach a value of USD 314.98 billion by 2025, at a CAGR of 3.87%, over the forecast period (2020-2025). The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
- The ways in which consumers interact with packages have been changing. With a growing focus on sustainability, traditional rigid packaging solutions are being replaced by innovative, flexible packaging solutions. Increasing market demands for consumer-friendly packages and enhanced product protection have propelled flexible packaging as a viable and cost-effective alternative.
- The ever-increasing demand for packaged food and beverages is expected to impact the flexible packaging industry. Cigarettes and associated tobacco products are other major products in the flexible packaging industry, with cigarettes expected to surpass bottled water and beet regarding packaging volume, by 2020.
- As packaging witnesses innovation across different aspects, the growing economies and the consequent rise in the individual purchasing power are expected to boost the growth of the premium packaging products.
Scope of the Report
Flexible Packaging is a package like bags and pouches that can be modified and are of free shape. The world of flexible packaging for commodity goods and services is a high volume, low margin world of a product polymer manufacturer. It includes a wide range of processes, ranging from extrusion, slitting, and rewinding to printing, coating, and lamination.
Key Market Trends
Beverage Segment Holds Significant Share in Flexible Packaging Market
- Flexible packaging not only plays a pivotal role in reducing beverage and product waste but also allows online brands to reinvigorate their packaging, in order to enhance the e-commerce experience.
- The US Dairy Export Council (USDEC) and Food Innovation and Resource Center (FIRC) at Singapore Polytechnic are leveraging the rising dairy demand by creating Southeast Asian food with reduced salt and sugar, using the US dairy ingredients.
- Southeast Asia is the second-largest market for US dairy exports, and the market was valued at USD 690 million, in 2017. In terms of consumer trends, according to USDEC, Southeast Asian customers are increasingly being conscious of artificial food ingredients, and are preferring flexible packaging that would significantly preserve the integrity of natural and clean label products.
- The prevalence of flexible packaging in the beverage sector is quite evident when browsing through the selection in the vending machines. The products for sales are convenient, single-use, and mostly packaged in flexible films.ckaging.
Asia-Pacific to Grow Lucratively in Future
- Asia-Pacific is the largest market for the packaging industry, accounting for over 40% of the world’s consumption.
- The main customers of the folding carton industry in the region are the healthcare, tobacco products, household care, and hardware and electrical markets. With the growing Asian economy, all these markets are performing extremely well, outperforming the world as a whole, in terms of percentage growth.
- The greatest opportunity for the flexible packaging market in Asia, lies in the online retail market containing both the largest market, China, and the fastest-growing market, India. China consumed 585.7 billion units of flexible packaging in 2016, and the packaging market in China witnessed continued growth, owing to the fast-paced growth in the consumer goods segment.
- These demands from the region have urged the companies to invest in technologies enhancing the production capacity by offering advanced pa
Some of the major players in the industry are Amron Limited, Bemis Company Inc., Berry Plastics Corporation, Sealed Air, etc. Since the market is fragmented. It is still dominated by major players, hence the market concentration will be consolidated.
- May 2018 - FlexPak began offering combined laser processing and slitting services on a wide web-scale for the flexible packaging industry. Its state-of-the-art equipment has been retrofit to a 51.5-inch web width slitter/rewinder to accommodate the high-speed processing of wide format rolls.
- February 2018 - Amcor's Genesis, a new in-store recyclable laminate solution. Buffalo Grove, Ill. Amcor has started getting over their previous existing flexible packaging for different kinds of consumer goods with lastest lamination that offers in-store recyclability and also maintains high productivity.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Demand for Convenient Packaging
4.3.2 Demand for Longer Shelf Life and Changing Lifestyle
4.4 Market Restraints
4.4.1 Concerns About the Environment and Recycling
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.4 Other Product Types
5.2 By Material
5.3 By End-user Industry
5.3.3 Pharmaceutical and Medical
5.3.4 Household and Personal Care
5.3.5 Other End-user Industry
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
5.4.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Latin America
126.96.36.199 Rest of Latin America
5.4.5 Middle East & Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor Plc
6.1.2 Berry Global Inc.
6.1.3 Mondi Group
6.1.4 Sealed Air Corporation
6.1.5 Coveris Holdings SA
6.1.6 Comexi Group Industries SAU
6.1.7 Coherent Inc.
6.1.8 Sei SpA
6.1.9 WIPF Doypak (Wipf AG)
6.1.10 FlexPak Services LLC
6.1.11 Laser Packaging Manufacturing PTE Limited
6.1.12 Mespack (A Duravant Company)
6.1.13 Sonoco Products Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.