Asia Pacific Flexible Plastic Packaging Market 2015-2019 - Surge in Demand from Pharmaceutical and Healthcare Sector with Amcor, Bemis, Berry Plastics & Sealed Air Dominating

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May 07, 2015, 11:52 ET

DUBLIN, May 07, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/tp2n6b/flexible_plastic) has announced the addition of the "Flexible Plastic Packaging Market in the APAC Region 2015-2019" report to their offering.

The analysts forecast the Flexible Plastic Packaging market in the APAC 2015-2019 to grow at a CAGR of 6.24 percent over the period 2014-2019.

Flexible plastics are a category of plastics that are thin, light, and easily stretchable, yet retain barrier characteristics along with being resistant to tearing or puncturing. These properties make flexible plastics suitable for manufacturing packaging products. They are chemically inert, cheap, and visually appealing, which enhances the appeal of the product they are used to pack. Generally, they are used to pack non-durable and fast-moving unit loads and have limited bulk industrial use, with the exception of FIBCs. The key customers of flexible plastic packaging products are the F&B, Personal Care, and Pharmaceutical and Healthcare sectors.

There is a gradual shift in customer preference to adopting flexible plastic packaging over its rigid counterparts because of convenience and sustainability issues. Flexible plastic packaging materials are 80 percent lighter in weight than equivalent rigid plastic materials, and are cheaper. They have high tensile strength and barrier properties.

According to the report, one of the main factors positively affecting the market is growing demand from the pharmaceutical and healthcare sector. Packaging of medical products needs to meet international regulatory compliance standards for safety. The inert properties of plastic along with its durability, cleanliness, transparency, and light weight make it the perfect choice for packing complex medical products. Various grades of plastics are used to store various forms of medical solutions, such as high-density polyethylene, low-density polyethylene, polypropylene, and polyethylene terephthalate.

Further, the report states that stringent environmental regulations imposed by governments of developed countries have restricted the growth of the market. Food packaging is the largest component of municipal solid waste in marine channels, which causes major damage to wildlife and marine life.

Based on flexible plastic packaging products, the market is segmented into: