“Flexible packaging market”
According to Triton’s research report, the global flexible packaging market gathered USD 255.26 billion in 2021 and is expected to reach USD 350.17 billion by 2028 with a CAGR of 4.66%.
A recent study by Triton Market Research titled Global Flexible Packaging Market includes global analysis and forecast by printing technology (digital printing, gravure, flexography, others), type (roll, packaging, flat pouches, stand-up pouches, gussets, window bags). bags), application (pharmaceuticals, food and beverage, cosmetics, others), raw material (bioplastic, paper, aluminum, plastic) and geography (Europe, Latin America, North America, Asia-Pacific, Middle East and Africa) .
Flexible packaging is packaging that can be customized into different shapes, sizes or materials. Bags, pouches, tubes, shrink films, cards and sleeves are common examples of flexible packaging.
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Triton’s report signifies that the global flexible packaging market is expected to grow at a CAGR of 4.66% during the forecast period from 2022 to 2028. It is further expected to reach 32,676.84 kilotons by 2028 at a CAGR of 4.01%.
Flexible plastics are an ideal substitute for traditional packaging, including metallic glass, rigid packaging materials and others. These are more resilient and durable, making them a preferable choice in all industries. The demand for processed and packaged foods is increasing due to the increase in population and increase in disposable income. Urbanization in countries like India and China is expected to grow, leading to increased consumption of packaged foods. Additionally, the advent of technology and globalization has prompted governments to invest in research and development, infrastructure and upskilling of human resources to support the food industry. Thus, these factors are driving the growth of the flexible packaging market.
On the other hand, the recycling of flexible packaging products is cumbersome and expensive. This is because multi-layer films include a combination of paper, aluminum and plastic, which are separated during the recycling process. Also, per FDA regulations, recycled flexible packaging cannot be used for pharmaceuticals and food packaging. Thus, these challenges are hampering the overall growth of the flexible packaging market.
The flexible packaging market is segmented into printing technology, type, application, and raw material. Based on printing technology, it is divided into digital printing, rotogravure, flexography and others. Further, the type segment includes rolls, wraps, flat pouches, stand-up pouches, gusseted bags and window bags. The application is categorized into Pharmaceuticals, Foods & Beverages, Cosmetics, and Others. Finally, raw materials include bioplastic, plastic, paper and aluminum.
Currently, Asia-Pacific holds the largest market for flexible packaging and is expected to grow over the next few years. Factors such as growing labor force, improving global economy, and increasing domestic demand for food and pharmaceuticals are driving the demand for flexible packaging. Additionally, the advantages of flexible plastic packaging such as lightweight features and ease of use are fueling the market growth in the region.
Leading companies profiled in flexible packaging market are Amcor Ltd, Takigawa Corporation, American Packaging Corporation, Solvay SA, Mondi Group, Sealed Air Corporation, Amerplast, Bryce Corporation, Korpack Corporation, Asahi Kasei, Handoo Package Co Ltd, Flair Flexible Packaging Corporation. , Rengo Co Ltd, Michelman Japan LLC, Kohjin Film & Chemicals Co Ltd, Dai Nippon Printing Co Ltd, Bischof + Klein SE & Co KG, EPAC, KM Packaging Services Ltd, Okura Industrial, Hosokawa Yoko Co Ltd, Mitsui Bussan Packaging Co Ltd , TCL Packaging and Coveris Management GmbH.
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Question & Answer: Flexible Packaging Market
Question 1: What are the factors driving the growth of the flexible packaging market?
Answer: Flexible plastics are an ideal substitute for traditional packaging, including metallic glass, rigid packaging materials and others. These are more resilient and durable, making them a preferable choice in all industries. The demand for processed and packaged foods is increasing due to the increase in population and increase in disposable income. Urbanization in countries like India and China is expected to grow, leading to increased consumption of packaged foods. Additionally, the advent of technology and globalization has prompted governments to invest in research and development, infrastructure and upskilling of human resources to support the food industry. Thus, these factors are driving the growth of the flexible packaging market.
Question 2: What are the challenges holding back the growth of flexible packaging?
Answer: The process of recycling flexible packaging products is cumbersome and expensive. This is because multi-layer films include a combination of paper, aluminum and plastic, which are separated during the recycling process. Also, per FDA regulations, recycled flexible packaging cannot be used for pharmaceuticals and food packaging. Thus, these challenges are hampering the overall growth of the flexible packaging market.
Question 3: Which region has the largest market for flexible packaging?
Answer: Currently, Asia-Pacific holds the largest market for flexible packaging and is expected to grow over the next few years. Factors such as growing labor force, improving global economy, and increasing domestic demand for food and pharmaceuticals are driving the demand for flexible packaging. Additionally, the advantages of flexible plastic packaging such as lightweight features and ease of use are fueling the market growth in the region.
Question 4: Who are the key companies profiled in the flexible packaging market?
Answer: Key companies featured in the flexible packaging market are Amcor Ltd, Takigawa Corporation, American Packaging Corporation, Solvay SA, Mondi Group, Sealed Air Corporation, Amerplast, Bryce Corporation, Korpack Corporation, Asahi Kasei, Handoo Package Co Ltd , Flair Flexible Packaging Corporation, Rengo Co Ltd, Michelman Japan LLC, Kohjin Film & Chemicals Co Ltd, Dai Nippon Printing Co Ltd, Bischof + Klein SE & Co KG, EPAC, KM Packaging Services Ltd, Okura Industrial, Hosokawa Yoko Co Ltd, Mitsui Bussan Packaging Co Ltd, TCL Packaging and Coveris Management GmbH.
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Pet food packaging forms a crucial part of the pet food industry. The purchasing behavior of consumers of pet products is strongly influenced by packaging design, color, shape, structure, imagery and regulatory information, among others. Factors such as increasing number of pet owners along with humanization and premiumization have created a large demand for pet food packaging.
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