LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global flexible packaging market for food and beverages provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. In addition, Technavio analysts have highlighted the most important drivers and challenges that will impact market growth.
The global flexible packaging market for food and beverages will grow at a CAGR of approximately 6% during the forecast period, 2018-2022, according to Technavio market research analysts. One of the major factors driving the growth of the market is the increasing global demand for packaged food and beverage products. The global flexible packaging market for food and beverages is expected to grow because of an increased demand for packaged food and beverage. For instance, in 2014, the global packaged sale was valued at about USD 2.34 trillion and is further expected to reach USD 2.63 trillion during 2014-2019. The flexible packaging market is also driven by the factors such as an increase in global population that has led to a rise in the demand for packaged food and beverage products and growing urbanization that has changed the food habits in metropolitan areas.
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In this report, Technavio has highlighted the growing market consolidation in global flexible packaging market as one of the key trends in the global flexible packaging market for food and beverages:
Growing market consolidation in the global flexible packaging market
Intense competition among vendors, fragmented nature of the market, and rapidly evolving technologies are posing a significant risk or threat to various flexible packaging vendors operating in the global flexible packaging market for food and beverages. Intense competition among vendors has led to an increase in the number of mergers and acquisitions (M&A), where small firms are either being acquired or merged with major players. Recent M&A deals in the global packaging industry are expected to have a significant impact on the global flexible packaging industry.
“Market consolidations in the global flexible packaging market have proved beneficial for the global food and beverage industry. As the global flexible packaging market is witnessing innovations and technological advances because of consolidation, the increase in market consolidation will drive the global flexible packaging market for food and beverages during the forecast period,” says a senior analyst at Technavio for research on packaging.
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Flexible packaging market for food and beverages - market segmentation and forecast
This research report segments the global flexible packaging market for food and beverages by material type (flexible plastic, flexible paper, and flexible foil) and key regions (the Americas, APAC, and EMEA).
In 2017, EMEA dominated the global market with a share of approximately 39%, followed by APAC and the Americas respectively. EMEA will continue to dominate the market during the forecast period due to the increased demand for convenient and flexible packaging solutions. In addition, high demand for recyclable and reusable packaging solutions will strengthen the flexible packaging market for food and beverages in EMEA.
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