Flexible Plastic Packaging Market Global Analysis, Challenges, Opportunities, Trends, Market Segments By 2023
Key Players
The Main players in the market of global flexible plastic packaging are
- Amcor Limited(Victoria)
- Constantia Flexibles Group GmbH (Austria)
- Mondi Group (Johannesburg)
- Sealed Air Corporation (North Carolina)
- Sonoco Products Company (U.S.)
- Coveris Holdings S.A. (U.S.)
- Huhtamaki Group (Finland)
- Bemis Company Inc. (U.S.)
- Ampac Holdings LLC (U.S.).
Industry Updates
In September 2018, Amcor has announced that it will invest more than $25 Mn to expand and upgrade an existing facility in Madison, Wisconsin.
In September 2018, Mondi and Werner & Mertz have announced that they will be introducing new, patented fully recyclable pouches with detachable decorative panels in the year 2019.
Flexible Plastic Packaging Market Segmentation
The global Flexible Plastic Packaging has been segmented on the basis of type, printing technology and application. Based on type, the flexible plastic packaging market has been segmented into stand-up pouches, flat pouches, gusseted, bags and others. The stand-up pouches segment is anticipated to account for the largest market share during the forecast period due to growing consumption of dairy products, cosmetics, food & beverages and personal care products that are usually packed using flexible plastic packaging.
Based on printing technology, the flexible plastic packaging market has been segmented into flexography, digital printing and others. Based on application, the flexible plastic packaging market has been segmented into food and beverages, pharmaceutical, personal care and others.
Market Drivers and Restraints
The flexible plastic packaging is currently the fastest growing packaging type in the global market. Extensive utilization of this packaging in various industrial sectors is fuelling the growth of the global flexible plastic packaging market. Flexible plastic packaging offers improved packaging designs, use of recyclable materials and increases the shelf life of products.
Regional Analysis
Plastic packaging market expansion will continue to profit from the drive to replace traditional materials such as glass and metal, with lighter-weight, more cost-effective and higher performance plastic materials in various markets. Flexible plastic packaging is cheap, visually appealing and chemically inert. These features increase their demand in products that are used in packaging, and are made in a wide variety of innovative shapes, sizes and appearances. They include components, such as handles; and opening and reclosing features, such as zips and spouts. Such packaging helps in reducing the wastage of food due to the increased shelf life of the food product, according to Industry Council for Research and Packaging on the Environment (INCPEN). Advanced packaging for milk pouches, makes transportation easy and without any refrigeration.
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