LONDON--(BUSINESS WIRE)--The global flexible packaging market size is expected to grow by USD 59.22 bn during 2020-2024, progressing at a CAGR of almost 6% during the forecast period.
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The growth of the processed-food sector is one of the major factors propelling market growth. However, factors such as high cost involved in manufacturing flexible plastic packaging will hamper market growth.
The growth of the processed-food industry is one of the major factors that will drive flexible packaging market growth. The increasing demand for convenience foods and fast food is leading to a rise in the need for lightweight packaging. Also, changing consumer behavior and the growing processed-food industry is triggering the demand for easy and flexible packaging material. Flexible packaging provides convenience to the consumer while ensuring product safety. Innovative paperboard packaging solutions are developed by manufacturers to cater to the consumer’s demand for convenient, easy-to-use, and lightweight packaging.
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Global Flexible Packaging Market: Product Landscape
Pouches are widely used for the packaging of dry foods, candies, confectioneries, agriculture products, and liquids, as they have a strong visual impact on consumers. Some vendors in the market are focusing on offering innovative pouches owing to the rise in consumer demand. The extension of the shelf life of the food products is made possible by using modified atmosphere packaging (MAP). Such new developments are likely to increase the options available to end-users. This, in turn, will fuel the use of pouches in the global flexible packaging market during the forecast period. Market growth in this segment will be faster than the growth of the market in the bags, films and wraps, and other segments.
Global Flexible Packaging Market: Geographic Landscape
The rapid expansion of end-user industries, such as e-commerce, fast-moving consumer goods (FMCG), and personal care, will significantly drive flexible packaging market growth in this region over the forecast period. 47% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for flexible packaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- Amcor Plc
- Berry Global Group Inc.
- CCL Industries Inc.
- DS Smith Plc
- Huhtamäki Oyj
- Mondi Group
- ProAmpac Intermediate Inc.
- Reynolds Group Holdings Ltd.
- Sonoco Products Co.
- UFlex Ltd.
What our reports offer:
- Market share assessments for the regional and country-level segments
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- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Flexible Packaging Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in flexible packaging market growth during the next five years
- Estimation of the flexible packaging market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the flexible packaging market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of flexible packaging market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Pouches - Market size and forecast 2019-2024
- Bags - Market size and forecast 2019-2024
- Films and wraps - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Food and beverage - Market size and forecast 2019-2024
- Healthcare - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Amcor Plc
- Berry Global Group Inc.
- CCL Industries Inc.
- DS Smith Plc
- Huhtamäki Oyj
- Mondi Group
- ProAmpac Intermediate Inc.
- Reynolds Group Holdings Ltd.
- Sonoco Products Co.
- UFlex Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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