Flexible packaging is referred to as a container or package made from flexible or materials that, when closed or filled, can bend while still holding the shape. Materials such as plastic film, paper,foil or any combination can be used for flexible packaging. They are generally used for consumers and in industrial applications, in order to protect, market, and distribute a vast range of products. They generally come in products such as bags, rollstock, labels/wraps, pouches, shrink sleeves, lidding, and stretch film.
The global Flexible Packaging Market Share is predicted to expand at 5.92% CAGR during the forecast period (2017-2023) .
Segmental Analysis
The global Flexible Packaging Market Share has been segmented on the basis of material, products, technology, application, and region.
By mode of type, the global Flexible Packaging Market Share has been segmented into bags, pouches, wraps, and others. Among these, the pouches segment occupies the largest market share with a value ofUSD 85.45 billion. The market is estimated to expand at 6.95% CAGR and is widely used in the flexible packaging products. Pouches are available in different types such as retort pouches, stand up pouches,and pillow pouches.
By mode of application, the global Flexible Packaging Market Share has been segmented intopharmaceuticals, food & beverages, personal care, and others. Among these, the food & beverages segment is considered to dominate the global Flexible Packaging Market Share.
Regional Insights
Geographically, the COVID-19 Impact span across regions namely, Europe, North America, Asia-Pacific, and Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is considered to occupy 29.41% share of the market in 2016 and expand at 6.18% CAGR during the appraisal period. with exponential growth in the packaging industry, the region is considered to flourish. Factors such as accelerating number of supermarkets in this region is also considered to trigger the demand for flexible packaging products. Moreover, due to the presence of regions such as India, China, Thailand, Japan, the market is considered to flourish.
The North American region is another major Flexible Packaging Market Share. With the expansion in dairy, confectionery,and medical industry, the market in this region is likely to foster.
Competitive Dashboard
The prominent players operating the global Flexible Packaging Market Share are Constantia Flexibles Group GmbH (Austria), Huhtamaki Group (Finland), Mondi Group (Johannesburg), Ampac Holdings LLC (U.S.),Amcor Limited (Victoria), Coveris Holdings S.A. (U.S.), Sonoco Products Company (U.S.), Bemis Company Inc. (U.S.), and Sealed Air Corporation (North Carolina).
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