Flexible Packaging Paper Market to Surge in China for Preventing Future COVID-19 Outbreaks
Flexible packaging paper is anticipated to gauge high demand in China, owing to increased concerns about health and food safety after the now subsided COVID-19 (Coronavirus) in the region. As such, East Asia is predicted to dictate the highest revenue among all regions in the flexible packaging paper market, where the global market is anticipated to reach a value of ~US$ 65 Bn by 2029. The adoption of flexible packaging is estimated to increase in China to prevent future COVID-19 outbreaks.
In an analysis conducted by Wood Meckenzie— a Scottish research company, tighter regulations might come into practice in China’s packaging industry. Thus, the market for flexible packaging paper is projected to witness growth in China, since the Government is reportedly considering the adoption of improved meat handling and distribution practices. Though China has a very low consumption of flexible packaging for meat and fresh produce, even a slight increase in the novel packaging segment could lead to flexible packaging paper market growth.
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Companies Bolster Credibility Credentials with Recyclable Packaging Paper
A significant shift from plastic to the adoption of recyclable paper is anticipated to generate incremental opportunities for manufacturers in the flexible packaging paper market. Since consumers are becoming increasingly aware about the adverse effects of plastic on the environment, manufacturers are capitalizing on this opportunity to innovate in paper pouches. For instance, Swiss multinational food and drinks corporation Nestlé announced the launch of their product Nesquik All Natural powder in five European markets whilst emphasizing on their sustainability credentials of adopting packaging paper from sustainable sources.
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The flexible packaging paper market is witnessing a transition from recyclable plastic to recyclable paper packaging. The consumer demand for more natural and sustainable food has triggered the demand for sustainable flexible packaging paper. As such, flexible packaging paper is acquiring prominence in food packaging and tea bag overpacks, among others. Thus, increase in applicability of the novel paper is boosting market growth.
FPA Seeks Clarity on Essential Packaging Manufacturing Amid COVID-19 Crisis
The flexible packaging paper market is fragmented with emerging players accounting for a market share of ~86%-91%. However, the recent outbreak of COVID-19 has paralyzed the packaging industry and is increasing efforts to seek clarity on what essential business means. For instance, the Flexible Packaging Association (FPA) has issued a letter to the White House in the U.S. to address the growing need for essential packaging manufacturing. Increase in the number of online sales, owing to the COVID-19 crisis has created an unprecedented demand for flexible packaging paper.
Flexible packaging paper is increasingly being used in F&B products such as cereals and frozen meals. It is also used in sterile health and beauty products, which is evident since the revenue of food and personal care & cosmetics end users are projected for exponential growth in the flexible packaging paper market. Hence, manufacturers are seeking clarity on ‘essential’ packaging manufacturing that helps keep products fresh and sterile for the convenience of consumers.
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Collaborative Platforms Create Awareness about Robust Paper Recycling Infrastructure
Circular flexible packaging is one of the important trends revolutionizing the market landscape. Companies in the flexible packaging paper market are increasing focus in sustainable packaging solutions that meet the demands of consumers. For instance, Huhtamäki Oyj— a Finland-based food packaging specialist, has developed the Huhtamäki blueloop, a novel platform where partners can collaborate to brainstorm over sustainable flexible packaging paper. The introduction of such innovative platforms is contributing toward market expansion.
Collaborative platforms are accelerating the process of innovations in flexible packaging paper on the global level. As such, paper is being highly publicized in the area of circular economy leveraged by a robust recycling infrastructure. Since consumers are already aware about the advantages of paper, it is easier for manufacturer in the flexible packaging paper market to innovate in new materials such as glassine, which gives a sophisticated look to products.
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