Increased awareness about health has escalated demand for flexible plastics in the pharmaceutical packaging industry are likely to generate considerable growth opportunities for the global flexible plastic packaging market. In addition, convenient packaging has gained substantial traction in recent years, which stimulates growth of the global flexible plastic packaging market.
Flexible plastic packaging is plays a vital role in the keeping packaged content fresh and safe. The global flexible plastic packaging market gathers momentum from its popularity in the packaging of frozen food, where it helps in prolonged storage of food items. Flexible plastic packaging solutions are widely used for packaging of products like baked goods & snacks, tea, beverage & juices, confectionery & chocolate, and many other edible items.
Global Flexible Plastic Packaging Market: Notable Developments
A significant development that gives a glimpse of the changing market dynamics in the global flexible plastic packaging market is mentioned below:
- In March 2018, Vienna-based Constantia Flexibles Group made an acquisition of Creative Polypack Limited. The latter is based out of India and makes film-based flexible packaging for home and personal care and food and beverage industry. Post acquisition, it is likely that products of Constantia Flexibles Group will have better access to the Indian market in times to come.
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Some of the well-known organizations operating in the global flexible plastic packaging market are as mentioned below:
- Amcor plc
- Clondalkin Group Holdings B.V.
- AR Packaging Group AB
- Sonoco Products Company
- Constantia Flexibles Group
- Bischof & Klein GmbH & Co. KG
Global Flexible Plastic Packaging Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global flexible plastic packaging market during the period of assessment, from 2019 to 2027.
Burgeoning Demand for Packaged Food and Beverage Items to Bolster Demand in the Market
Increased demand for these products like flat pouches and stand-up pouches is propelling growth of the global flexible plastic packaging market in years to come. In a bid to obtain upperhand and stand out in the competitive landscape of the global flexible plastic packaging market, food and beverage producers opt for stand-up pouches. Stand up pouches are flexible enough to be customized into different sizes, styles, and designs.
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Various environment regulatory organizations like the Environmental Protection Agency (EPA) have come up with many regulations such as introduction of integrated solutions that mandates reduce, reuse, and recycle in the US. These regulations are formulated to govern the global flexible plastic packaging market. These regulatory bodies formulate guidelines and set a standard for synthetic fibers, plastics, and organic chemicals. Discharge of plastic products form an integral and crucial consideration for such decisions. Such regulations compel market players to stick to the guidelines, which paves way for environment friendly and sustainable use of flexible plastics.
The global flexible plastic packaging market gained momentum from its expensive use in various healthcare applications. The benefits of flexible plastic packaging solutions include smaller space occupancy both in display and retail shelves. The trend of see-through packaging has gained recent popularity and significance. These see-through packaging solutions offer a view of color and other physical properties of contents packed inside. This acts as an encouragement for buying the product and boosts growth of the global flexible plastic packaging market.
Global Flexible Plastic Packaging Market: Geographical Analysis
The regional evaluation of the global flexible plastic packaging market has led to the segmentation of the market into Europe, Middle East and Africa, North America, Latin America, and Asia Pacific.
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According to regional analysis, the Asia Pacific is likely to account for a considerable chunk of the global flexible plastic packaging market in years to come. Countries like Japan, India, and China are likely to spearhead growth of the market owing to huge volume of export in different parts of the world. Increased inclination toward consumption of packaged food and beverage items is anticipated to support the growth of the global flexible plastic packaging market.