The global flexible packaging market is anticipated to witness healthy growth in the years to come, as reported by Transparency Market Research (TMR). The market's competitive landscape features intense fragmentation due to the presence of large pool of players. With low entry barriers, new players have ample scope to enter into the market. However, stiff competitive spirit exists among the vendors in the market. With growing number of mergers and acquisition by established vendors in Europe and North America, in order to assert their position, market shares are expected to consolidate.
Vendors in the global flexible packaging market are increasingly going for forward integration by manufacturing, self-producing and distributing to application industries. For instance, LPS Industries and Farnell Packaging Limited now offer plastic and paper packaging materials as a key part of their product portfolio. Established players are also expected to shift their manufacturing base to emerging countries such as India and China to capitalize on low labor and production costs. Companies are also seen focusing on extensive research into the technology to gain market traction.
Some of the prominent vendors in the global flexible packaging market are Berry Plastics Group, Inc., Schur Flexibles, Huhtamäki Oyj, The Dow Chemical Company, and Clondalkin Flexible Packaging Wentus.
According to TMR analysts, the global market for flexible packaging is forecasted to rise at a 5.2% CAGR, from 2016 to 2024, the forecast period. This revenue was estimated to be US$238.5 bn in 2016 and expected to soar to US$358.7 bn by the end of 2024. Product-wise, stand-up pouches are expected to generate revenue up to US$85.9 bn by the end of the forecast period. Geographically, the global market is expected to be dominated by Europe.
Burgeoning Technological Progress in Field to Drive Growth
Flexible packaging innovation has progressed significantly in the course of recent years and is currently a consumer backbone, relentlessly moving into new markets and applications. Items have advanced from straightforward monolayer sacks and wrappings to coextruded or overlaid built multilayer and covered developments, including different materials, for example, plastics, paper and metal foils, coatings and different added substances. These improvements give properties, for example, high hindrance to oxygen, broadened time span of usability and accommodation, which are all inexorably requested in packaging for food, consumables and pharmaceuticals. The properties of flexible packaging can be custom fitted to give particular mixes required to packaging an expansive scope of items. This is a fundamental factor fuelling the global flexible packaging market.
Customer Friendly Packaging to Emerge as Key Market Trend
In the coming years, various new packaging materials are expected to gain traction over the figure time frame. Packaging converters hoping to diminish production and transport costs are profiting from the expansion in flexible packaging composes, supported by the persistent advancement of new pocket designs - especially the potential for an all-plastic pocket - and by developing customer interest for comfort and parcels that convenient to handle, open, and close. New procedures and apparatus will empower pocket filling paces to coordinate those of jugs after some time.
Advances in digital printing will give chances to coordinate in-line printing as a major aspect of the transformation activity and improvements in packaging and illustrations to meet the prerequisites of brand-proprietors and shoppers for swift product advances, personalization and customization.
Flexible Plastic Packaging Coating Market (Coating Type - Epoxies Coatings, Acrylics Coatings, Urethane & Polyurethane Coatings, Lacquer Coatings, Plasma Coatings, Polyesters Coatings, Phenolic Coatings; Coating Applications - Decorative, Protective, Heat Seal Applications, Print Primer; Substrate Type - Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyamide, Poly Vinyl Chloride, Polystyrene; End Use - Food & Beverage Packaging, Pharmaceutical Packaging, Cosmetics & Personal Care Packaging, Chemical Packaging, Consumer Durables Electronic Goods Packaging, Automotive & Allied Packaging):https://www.transparencymarketresearch.com/flexible-plastic-packaging-coating-market.html
On-the-go Breakfast Packaging Market (Material Type - Plastic (PE, PP, PVC, EVOH, and PET) and Paper; Packaging Type - Rigid Packaging (Rigid Boxes, Bottles and Jars, Cans, and Trays) and Flexible Packaging (Films & Wraps and Pouches & Sachets); Breakfast Products (Cereal Meals, Breakfast Bars, Sandwiches and Burgers, Cakes and Muffins, Sausages and Salamis, Egg Meals, and Milkshakes and Juices):https://www.transparencymarketresearch.com/on-the-go-breakfast-packaging-market.html
Industrial Packaging Market (Materials - Metal, Plastic Paper, and Wood; Products - Drums, IBCs, Sacks, Pails, Crates, Tubes, and Bulk Boxes; Packaging - Rigid and Flexible; End Users - Agriculture And Horticulture, Automotive, Building & Construction, Chemicals And Pharmaceuticals, Engineering, Food & Beverages, Metal Products, Oil & Lubricants, Plastics And Rubber, Furniture, Electronics, and Tobacco):https://www.transparencymarketresearch.com/industrial-packaging-market.html
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