The global Flexible Packaging Market is expected to witness a significant CAGR of around 4% during the forecast period owing to the increase in demand for longer shelf life of products and increasing demand for customer-friendly packaging. Moreover, an increase in consumers’ propensity to eat out and a growing number of innovative fast-food chains are the driving factors for chain QSRs segment. Thus, growing demand for packaged food coupled with the convenience of use and cost effectiveness of flexible packaging is expected to drive the market demand. Flexible packaging is the most efficient and cost-effective approach for preserving, distributing, and packaging food products, beverages, pharmaceuticals, and a variety of consumables.
Furthermore, due to its numerous energy and environmental benefits, the packaging industry is shifting toward flexible packaging. Additionally, manufacturers have been compelled to provide environmentally friendly packaging choices that are safe and secure due to growing worries about the usage of biodegradable polymers for flexible packaging and its effects on the environment.
Some of the major players operating in the market include Amcor Plc, Berry Global Inc., Mondi Group, Sealed Air Corporation, Coveris Holdings SA, UFlex Limited, Huhtamaki Group, Proampac LLC, WIPF Doypak (Wipf AG), and FlexPak Services LLC.
Insights Presented in the Report
“Amongst raw material, plastic category accounted for the major share in the global market in 2020”
On the basis of raw material, the market is segmented into paper, plastic, and metal. In 2020, the plastic segment accounted for the largest revenue share. Flexible plastic packaging is widely used in e-commerce industry because it is easy to recycle, waterproof, and sturdy. Plastic is an excellent packing material for perishable goods like fruits, meat, and dairy products because it offers better shock absorption, greater structural and thermal stability, and can act as an insulator. Thus, steady growth of the category is anticipated as a result of rising demand for FMCG goods, household supplies and necessities, and medical essentials. However, the use of plastics is prohibited by strict laws, which is anticipated to impede market expansion.
“Amongst application, pharmaceutical application is expected to witness higher growth rate during the forecast period”
Based on application, the flexible packaging market is divided into food & beverages, pharmaceutical, cosmetics, and others. Food and beverage industry accounted for a major share in the market. However, pharmaceutical application is expected to witness higher growth rate during the forecast period. In addition, major companies are investing heavily for the development of innovative products. For instance, in April 2022, Amcor announced the expansion of the pharmaceutical packaging line with new, environmentally friendly High Shield laminates. These new High Shield technologies provide solutions for more environmentally friendly pharmaceutical sachet, stick pack, and strip pack packaging made of paper- and polyolefin-based materials.
“APAC to hold a significant share in the market”
APAC accounted for a majority share in the market and is expected grow at a significant CAGR during the forecast period. This is mainly ascribed to the explosive growth of end-use industries such as food and beverage, healthcare, and personal care sectors. Furthermore, food industry in the Asia Pacific region is gigantic in size and is therefore a key element in the economic development prospects for the region. Besides, several restaurant and food chain operators are improving their presence on digital platforms to extend their reach and improve revenue. In addition, online portals like UBER Eats, Zomato, and among others are helping players in the restaurant industry increase the number of delivery orders and takeaways. Thus, creating demand for flexible packaging.
In addition, due to stringent government regulations manufacturers are keen on the production of eco-friendly and biodegradable food packaging materials from biodegradable waste.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Flexible Packaging Market Revenue, 2020-2028f
6. Market Insights By Raw Material
7. Market Insights By Application
8. Market Insights By Region
9. Flexible Packaging Market Dynamics
10. Flexible Packaging Market Opportunities
11. Flexible Packaging Market Trends
12. Demand And Supply-side Analysis
13. Value Chain Analysis
14. Competitive Scenario
15. Company Profiled
16. Disclaimer
Research Methodology for the Flexible Packaging Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Flexible Packaging market were the three major steps undertaken to create and analyze the adoption of a flexible packaging in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global flexible packaging market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Flexible Packaging market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the flexible packaging market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as raw material and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the flexible packaging market. Further, we conducted factor analysis using dependent and independent variables such as various raw material and application of flexible packaging. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Flexible Packaging market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global flexible packaging market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Flexible Packaging market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of raw material and application in the global Flexible Packaging market.
The main objective of the Global Flexible Packaging Market Study
The current & future market trends of the global flexible packaging market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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