LONDON--(BUSINESS WIRE)--Technavio, in its latest market research report, has predicted the global flexible lid stock packaging market to grow at a CAGR of more than 5% during the forecast period, 2018-2022.
The growing demand for MAP in flexible packaging is one of the key factors driving the market’s growth. Modified atmosphere packaging (MAP) is also known as atmospheric protective packaging and reduced oxygen packaging. MAP is basically a fine blend of atmospheric gases such as oxygen, nitrogen, and carbon-dioxide in a high barrier package. It helps to maintain the nutritional and visual appeal of the less processed and fresh food to extend their shelf life.
This new research report on the global flexible lid stock packaging market provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts a trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing demand for thermoformed packaging as one of the key emerging trends in the global flexible lid stock packaging market:
Growing demand for thermoformed packaging
Thermoforming is a process where a sheet of packaging raw material such as plastic, paper, and aluminum is heated to a pliable form to create the desired packaging. The thermoforming process is used to produce disposable cups, lids, containers, trays, blisters, and clamshells. There are many other processes that are used to manufacture packaging materials such as injection molding, blow molding, and rotational molding. But, thermoforming is gaining popularity due to its various advantages.
“The growing demand for thermoforming packaging is increasing the demand for thermoformed flexible lid stock packaging. Thermoformed lidding material is also used for blister packaging. Blister packaging usually has a lidding seal made of aluminum foil. Packaging vendors are using thermoformed aluminum lidding sheets for blister packaging,” says a senior analyst at Technavio for research on packaging.
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Flexible lid stock packaging market - segmentation and forecast
This market research report segments the global flexible lid stock packaging market into the following end-users (food industry, pharmaceutical industry, personal industry, and beverage industry) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC dominated the global flexible lid stock packaging market in 2017, contributing to a market share of approximately 41%. This region is expected to dominate the global market throughout the forecast period.
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