LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global flexible packaging market and the market is poised to experience spend growth of more than USD 40 billion between 2017-2022 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
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Buyers from the food and beverage industry are leveraging flexible packaging solutions as a cost-effective way to advertise their products. These packaging solutions support the exhibition of impressive graphics and are also not expensive to be produced. Consumable products such as ready-to-eat foods and snacks, ready-to-drink cocktails, juices, and other beverages require packaging solutions that are mobile, cost-effective, and durable. Flexible packaging solutions are the best-fit solution for such products, which is driving the global flexible packaging market.
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The Top Flexible Packaging Service Providers Enlisted in this Report:
Prices of raw materials are expected to skyrocket owing to the frequent fluctuations in crude oil prices and the rising demand and supply gap. This will add to service providers’ manufacturing costs which will have an inflationary impact on procurement spend in the flexible packaging market. Considering this possibility, this report has listed the top flexible packaging service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this market.
Amcor- It is among the service providers who are known to acquire smaller packaging firms to increase their product portfolio, regional presence, and production capacity. In 2016, Amcor acquired Alusa, a leading flexible packaging company in South America. This helped Amcor improve its customer value proposition in the South American flexible packaging market.
Sealed Air- Buyers are advised to assess the EPR initiatives taken by this service provider for the entire lifecycle of the packaging. It is crucial for buyers to should determine this service provider’s ability to facilitate return packaging and reverse logistics for recycling and reducing waste generation.
Sonoco- Capability to customize is one of the key supplier selection criteria in the flexible packaging market. Buyers should select service providers based on their ability to incorporate customized designs on the packaging either through direct printing or appropriate labels. It is also recommended that buyers ascertain the ability of this service provider to offer various printing techniques such as digital, flexographic, and offset. The printing requirements may vary based on the type of packaging material as well as the required TAT for procuring the packaging.
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Some of the key topics covered in this report are:
- Flexible packaging market spend segmentation by region
- Flexible packaging supply market analysis
- Regional spend opportunity for flexible packaging service providers
- Flexible packaging service providers cost structure
- Total cost of ownership analysis in the flexible packaging market
- Flexible packaging pricing models analysis
- Category management objectives
- Cost saving opportunities in the flexible packaging market
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