LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global flexible industrial packaging market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the CAGR for the global flexible industrial packaging is expected to be over 6% during the period 2018-2022, however, the market's growth momentum will decelerate owing to a decrease in the year over year growth.
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In this report, Technavio highlights the growing demand for biodegradable packaging alternative as one of the key emerging trends in the global flexible industrial packaging market:
Growing demand for biodegradable packaging alternative
The rise in environmental concerns posed a challenge to vendors of the global flexible industrial packaging market during the base year. However, the trend of the increasing demand for sustainable, flexible packaging solutions will drive the growth of the market during the forecast period. FIBCs and sacks are vital, flexible industrial packaging solutions used for the storage and shipment of raw materials and goods. These products are made of PP and polyethylene that are important raw materials for flexible industrial packaging solutions. However, various stringent government regulations and policies in the US and the European countries regarding the disposal of plastic materials using landfills are driving the demand for bio-degradable packaging solutions.
According to a senior analyst at Technavio for packaging research, “Increase in the use of sustainable and green packaging solutions in flexible industrial packaging will strengthen the growth of the market during the forecast period. Various bioplastic raw materials developed include starch plant oil, polyhydroxyalkanoates, polylactic acid, and other cellulose material packaging products. These materials also have 100% biodegradation after their useful lifetime.”
Technological advances and increase in R&D activities have led to the development of various bio-degradable packaging solutions derived from natural sources. Polylactic acid films offer many advantages when compared with conventional plastics, such as insolubility in water; higher, better barrier properties against the UV light; and easy degradability.
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Global flexible industrial packaging market segmentation
This market research report segments the global flexible industrial packaging market by end-user (chemical industry, construction industry, and other industries), and key regions (the Americas, APAC, and EMEA).
In 2017, EMEA dominated the global market with a share of over 40% because of the higher penetration of flexible industrial packaging solutions in the region compared with that in other geographies. EMEA was followed by the Americas and APAC, with Americas expected to witness the maximum growth over the forecast period.
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