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Flexible Packaging Market - Growth, Trends, Forecasts (2020 - 2025)

Published on: Jun 2020 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 120

The Flexible Packaging Market is expected to grow at a CAGR of 3.87%, over the forecast period 2020 to 2025. Technological innovation, sustainability trepidations, and attractive economics are among the reasons for the remarkable growth of flexible packaging in the last two decades, globally.

- Owing to the rising focus on sustainability, traditional rigid packaging solutions are being substituted by innovative and more sustainable flexible packaging. The growing market demand for customer-friendly packages and heightened product protection is expected to boost flexible packaging as a viable and cost-effective substitute.
- E-commerce, digital printing, and sustainability are driving market development and growth. Customers are increasingly becoming more eager to pay extra for certain product attributes boosted by flexible packaging. For instance, according to the Flexible Packaging Association, more than 60% of consumers in North America are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others.
- Flexible packaging is mainly used for food, which contributes to more than 60% of the total market, according to the Flexible Packaging Association. According to the Flexible Packaging Association, brand owners are taking on films, pouches, and bags as a go-to packaging solution, acknowledgments in part to extensive acceptance by American consumers.
- Beauty products manufacturers, like L'OrŽal and Unilever, are also investing in eco-friendly packaging approaches to make more sustainable usage of plastics in the personal care industry. For instance, in June 2019, L'OrŽal has participated in the capital increase conducted by Carbios, which develops new, bio-industrial solutions to reinvent the lifecycle of plastics.
- With the recent outbreak of COVID 19, the flexible packaging manufacturer is facing supply chain disruption along with decreasing manufacturing at the site in many parts of the world. To ensure the smooth flow of supply chain, much Global food safety initiative (GFSI) certification programs are providing six-month certificate extensions by conducting a remote audit and risk assessment pertaining to COVID-19 such that the company can approve a new supplier location without an on-site audit to meet the demand.

Key Market Trends

Beverage Segment Holds Significant Share in the 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 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 growing dairy demand by making Southeast Asian food with reduced salt and sugar, using 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. According to USDEC, Southeast Asian customers are conscious of artificial food ingredients and prefer flexible packaging that significantly preserves 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 are mostly packaged in flexible films.

North America to Have Significant Market Share

- The demand for flexible packaging products is generally driven by millennial customers in the region, as they have an ardent preference of single-serving and on-the-go style food and beverage foodstuffs.
- As these products are generally designed to be durable, portable, and lightweight, flexible packaging stands to be a famous option to pack such products. Firmest growing areas of snack foods, both in terms of processed foods and fresh items, are anticipated to govern the demand for flexible packaging from the food and beverage industry of the region.
- The United States is the largest market in the region. As per the Flexible Packaging Association, flexible packaging accounts for more than USD 31 billion as annual sales in the country being the second largest, and fastest-growing segment under the overall packaging industry. The overall industry additionally, employs nearly 80,000 workers in the United States.
- As of March 2020, FPA and its members, since being crucial to the supply chain while catering to the needs of US consumers in responding to the COVID-19 crisis, have kept industryŐs manufacturing facilities to stay open and functioning.

Competitive Landscape

The Flexible Packaging Market is fragmented in nature. Some of the major players in the industry are Amron Limited, Mondi Group, Berry Global Inc, Sealed Air Corporation, among others.

- April 2020 - Smurfit Kappa launched a new Bag-in-Box filling solution for organic birch sap drink thus offering a perfect packaging solution for the drink that keeps it fresh for up to 24 months before opening and 8 weeks after opening.
- September 2019 - Amcor opened an e-commerce testing laboratories, one in Manchester, Michigan, US. With this, the company would cater customers with online sales; particularly in pet food, sauces, beauty and personal care, and home cleaning products. This laboratory is certified to test packaged products for ISTA 6A.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Industry

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Demand for Convenient Packaging
5.1.2 Demand for Longer Shelf Life and Changing Lifestyles
5.2 Market Restraints
5.2.1 Concerns about the Environment and Recycling

6 MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Plastic
6.1.1.1 Polyethene (PE)
6.1.1.2 Bi-orientated Polypropylene (BOPP)
6.1.1.3 Cast polypropylene (CPP)
6.1.1.4 Polyvinyl Chloride (PVC)
6.1.1.5 Ethylene Vinyl Alcohol (EVOH)
6.1.2 Paper
6.1.3 Aluminum Foil
6.2 By Product Type
6.2.1 Pouches
6.2.2 Bags
6.2.3 Films & Wraps
6.2.4 Other Product Types
6.3 By End-user Industry
6.3.1 Food
6.3.2 Beverage
6.3.3 Pharmaceutical and Medical
6.3.4 Household and Personal Care
6.3.5 Other End-user Industry
6.4 By Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 France
6.4.2.4 Rest of Europe
6.4.3 Asia-Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 India
6.4.3.4 Australia
6.4.3.5 Rest of Asia-Pacific
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Rest of Latin America
6.4.5 Middle-East & Africa
6.4.5.1 United Arab Emirates
6.4.5.2 Saudi Arabia
6.4.5.3 South Africa
6.4.5.4 Rest of Middle-East & Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor Plc
7.1.2 Berry Global Inc.
7.1.3 Mondi Group
7.1.4 Sealed Air Corporation
7.1.5 Coveris Holdings SA
7.1.6 Comexi Group Industries SAU
7.1.7 Coherent Inc.
7.1.8 Sei SpA
7.1.9 WIPF Doypak (Wipf AG)
7.1.10 FlexPak Services LLC
7.1.11 Laser Packaging Manufacturing PTE Limited
7.1.12 Mespack (A Duravant Company)
7.1.13 Sonoco Products Company

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

SECONDARY RESEARCH
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.

PRIMARY RESEARCH
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.

MARKET ENGINEERING
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.

EXPERT VALIDATION
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.

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