The demand in EU region for products varies from country to country. In countries like Portugal, Greece and Italy which are still battling the economic downturn have lesser demand for products. The unemployment rate was more than 15% in 2014 and more than 25% in Spain which reduces the spending capacity of the people in the region. But in countries like Russia, Poland and Turkey the demand is increasing. Turkey is one of the countries in EU which is rapidly growing. In turkey, the number of shopping centers, supermarkets and hypermarkets opening up is increasing. For this huge retail market, the flexible packaging market is equally growing with it.
The Europe flexible packaging market is expected to grow from USD 28.22 billion in 2016 to USD 41 billion by the end of 2021 at a CAGR of 7.76%. Germany is set to have the highest market share followed by the UK and Spain. This robust growth is attributed to the overall growth of packaging need in the Latin American region caused by the increase in the market penetration of retail companies. Retail companies have opened many more product lines. Due to larger vertical integration, the retailers have enjoyed more efficient distribution and logistics. This enables the flexible packaging market to grow at a steady pace to help the retail industry in the region.
Increased demand for consumer-friendly products which are lightweight and easily transportable can be considered as a major factor behind Europe’s high market share. Growing focus on sustainability, the increased need for extended shelf life, rising standards of hygiene and consumer focus on the ease of use are the core drivers of this market. Flexible packaging has superior barrier capabilities and can effectively protect the product from moisture and oxygen. This is particularly important in the pharmaceutical industry where the integrity of the product is of prime importance. The major challenges in this region are the consequences of the financial crisis on the consumer’s purchasing power, rising prices of the commodities and the aging problem of the European population. Although the financial crisis hit the European Union pretty badly but with the help of the ECB and other financial institutions the economy is looking to come out of the economic slump.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the key vendors mentioned in the report are Amcor, Mondi Group, SIT Group, Wipak Group and Automated Packaging Systems. Some other companies which are serving the market in their own innovative way, mentioned in the report are Rollprint Packaging Products, Paharpur 3P and PERUPLAST S.A.
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