The 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.
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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