The global flexible packaging market is driven by trends such as the focus on sustainability and consumer demand such as more shelf life and easy to handle design.
The market is estimated to increase from USD 85.5 billion in 2016 to USD 140.65 billion by 2021 with a CAGR of 8.65%. Europe is the leading market for flexible packaging with the United Kingdom and Germany being the major markets in the region. Asia-Pacific and Latin America regions are the fastest growing regions for flexible packaging market due to the increase in expendable income in these countries.
This escalation is developing the need to analyze, review, and to forecast the growth of the flexible packaging market. The key determining factors of packaging are varying consumer trends, the weight of the products, different sizes, shelf life and ease of recycling. Flexible packaging helps in addressing these concerns and that is why it is being widely adopted for several products across different industries.
The research published on flexible packaging covers different packaging materials such as plastics, flexible foams, paper, metallic packaging and cloth packaging. It also covers the market by end-user industry such as food, beverage, pharmaceutical, medical, personal care, household care, retail, manufacturing and agriculture.
Longer product shelf life, changing lifestyle of people, increasing disposable income across different regions and new innovative products are the major drivers for the high growth of the flexible packaging market.
Concern about the effects of flexible packages has increased government regulations regarding the recycling of these materials. This will be a major challenge for the growth of the market as companies struggle to cope with these regulations.
The study elucidates the situation of flexible packaging market and shows its application in the end-user products such as snacks, processed fish, meat and eggs, bakery, meals, pet food, fruits, vegetable and others along with accurate market metrics. The study clarifies that currently the flexible packaging applications market size is the highest for processed fish, meat and eggs followed by meals, which is expected to grow at a CAGR of 13.43 % from 2016 to 2021.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), Latin America and the Middle East & Africa; wherein the market share of each region is analyzed and estimates are provided for the next five years. The various applications of flexible packaging have been discussed in detail in addition to a comprehensive overview of the market.
Key Deliverables in the Study