Flexible Packaging Market Size, Trends, Shares, Insights, Forecast - Coherent MaPosted by Pallavi Reddy on November 27th, 2020 Flexible packaging is a packaging film that is produced from flexible materials which can be used to package different shapes and size of the product. It is made up of paper, plastic, foil, sheet, laminated sheet, and metal sheet. They ensure protection from damage during transportation and storage. They increase shelf-life of the product and also reduce the production waste as it offers the least packaging possible. Flexible packaging uses fewer materials than rigid containers and also consumed less energy during production. Furthermore, it releases fewer greenhouse emissions which make a better solution for a sustainable environment. The global flexible packaging market is projected to surpass US$ 400 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2019 to 2027). Top Keyplayers in this Market are as follows: Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + KleinInternational, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, Flair Flexible Packaging Solution Cellpack Packaging, and Südpack Verpackungen
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Market Trends In recent past years, the market for flexible packaging has experienced numerous merger and acquisition activities, resulting in industry consolidation. Most of these events were happened in the North America and European markets. For instance, in January 2016, Huhtamaki Oyj acquired FIOMO, a.s., a manufacturer of flexible packaging based in the Czech Republic. The objective of this acquisition was to enhance the company’s manufacturing footprint in Europe. The shift in trend from two- and three-layered films to seven- and nine-layered films due to its advantages such as extended shelf with fewer chances of contamination is expected to augment the market growth of flexible packaging film. For instance, in August 2015, Clondalkin Flexible Packaging Wentus announced the introduction of a new seven-layer barrier film under the brand name WENTOPRO for dry food products. The new film offers a high barrier against moisture and mineral oil saturated hydrocarbons (MOSH) and mineral oil aromatic hydrocarbons (MOAH). About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Like it? Share it! More by this author |