Flexible Packaging Market End Users, Regional Growth Rate and Sales
Posted by Kishor on June 3rd, 2019
The global market for flexible packaging is estimated to witness massive growth in the years to come owing to their multiple use properties. The presence of large number of players in the market and entry of new entrants in the global flexible packaging market is projected to intensify the market competition. The market competition is seen on the basis of price, quality, services, and innovation. The leading players in the market putting efforts by introducing innovative and bio-based packaging materials. Some of the key players in the global flexible packaging market are Berry Plastics Group, Inc., Constantia Flexibles Gmbh, Sonoco Products Co., Mondi Group, Huhtamäki Oyj, and Ampac Holdings, LLC.
In a recent report by Transparency Market Research, the global flexible packaging is expected to exhibit 5.2% of CAGR during the forecast period between 2016 and 2024. By rising at a steady CAGR the market is projected to touch US8.7 bn by the end of 2024 progressing from US8.5 bn as estimated in 2016.
Based on segmentation by product type, the global flexible packaging market is divided into Retort Pouches, Squeezable Bottles, Converted Roll Stock, Laminated Tubes, Vacuum Pouches, Wicketed Bags, Gusseted Bags, and Stand-up Pouches. Out of these, the market seems to be drawing more revenue shares from the stand-up pouch segment. the market is seen to be dominated by the European region. It is also estimated to continue its domination in the years to come because of major players setting up main industries for their research and development and manufacturing hub in the European nations.
The Detailed analysis and statistical data about the market are given in Tabular format, Charts, and Graphs in this research report. Get PDF Sample of this study @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9839
Demand in Food and Beverages Sector to Support Flexible Packaging Market
The food packaging sector is catalyzed by innovative processing techniques used for improving shelf life of food products. Demand regarding flexible food packaging is particularly high for beverages and snack food. This is credited to the changing lifestyles, rising popularity of faster delivery services, and modern retail trades.
Strict Environmental Norms to Hinder Market Development
Nevertheless, there are certain factors hindering the growth of global flexible packaging market. Using several layers of a particular material makes the recycling process difficult and complicated. In a few instances metal and plastics are utilized together for flexible packaging. This makes the recycling process extremely tedious since plastic is easily recyclable but metal takes time. Furthermore, stringent environment regulations across the globe are as well hampering the global market growth.
Like it? Share it!
About the AuthorKishor
Joined: February 12th, 2019
Articles Posted: 1,616
More by this author