Flexible Packaging Market Worth US$ 400 Bn by end of 2027, Says Coherent Market Insights

News provided by

Nov 29, 2021, 13:30 ET

SEATTLE, Nov. 29, 2021 /PRNewswire/ -- According to Latest Report, The global flexible packaging market is estimated to account for US$ 400 Bn in terms of value by the end of 2027 witnessing a CAGR of 5.40%.

A wide variety of flexible packaging options are now available on the market. Examples of commonly flexible packaging includes tubes, sealants, pouches, bags, and seals. The term "flexible" describes the ability of the product to be tailor made to meet specific needs. Various forms of these new packaging options have emerged over the last two decades and gained increasing popularity. These flexible products are highly useful for several applications including packaging, pharmaceuticals, medical devices, cosmetic products, food and cosmetic products, and garments.

In recent times, manufacturers of packaging materials have started using a number of these flexible packaging solutions for maximum benefit. Examples of such flexible packaging solutions are clear pouches, snap seals, liquid seals, double-sided tapes, adhesive labels, garment rolls, and reusable bags. Rigid packaging is more durable than its flexible counterpart. It is also capable of withstanding heavy weight. The rigid option is preferred for high volume, heavy duty packaging applications. One major advantage of rigid packaging is that it can resist leakage.

Ask for Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/3773

Flexible packaging is able to create a sustainable circular economy. The benefits of this circular economy approach include reduced energy consumption, savings in the resources of the earth, reduction in toxic substances, improved competitiveness, and income generation through employment generation. Another major advantage offered by the use of such materials is that it does not require any inputs from its users. These materials are completely replenished once used, making the use of such packaging the most eco-friendly and economical.

Market Drivers:

The global flexible packaging market growth is driven by investment in compostable flexible food packaging. For instance, in December 2020, TIPA, an Israeli-based startup developing sustainable packaging solutions, raised US$4 million from the Millennium Food-Tech, a Tel Aviv-listed investment vehicle, for its compostable flexible food packaging

Moreover, development and launch of new products is also expected to propel growth of the global flexible packaging market over the forecast period. For instance, in September 2020, Amcor Ltd. announced the world's first recyclable flexible retort pouch, which uses Amcor's AmLite HeatFlex Recyclable solution.

Market Opportunities:

Increasing funding for sustainable plastic packaging is expected to offer lucrative growth opportunities for players in the global flexible packaging market. For instance, in December 2020, UK Research and Innovation (UKRI) announced US$ 35.25 million worth of funding for projects that improve plastic packaging across the retail supply chain.

Moreover, acquisition of other companies is also expected to offer lucrative growth opportunities for players in the global flexible packaging market. For instance, in October 2021, C-P Flexible Packaging acquired Preferred Packaging, a privately-held packaging manufacturer.

Buy This Premium Report Now @ https://www.coherentmarketinsights.com/insight/buy-now/3773

Market Trends:

There has been an increase in concerns regarding plastic pollution, which is expected limit demand for flexible packaging. For instance, the study, 'Plastic pollution is killing marine megafauna, but how do we prioritize policies to reduce mortality?', published in December 2020, in Conservation Letters, reported that flexible plastic is responsible for the largest proportion of debris deaths, primarily due to gastric obstructions, in oceans.

Major players operating in the global flexible packaging market are focused on adopting expansion strategies to enhance their market share. For instance, in December 2020, Plastic Packaging Technologies LLC started a 130,000-square-foot "Center of Excellence for Flexible Pouching" in a portion of Turner Logistics Center's third building in Kansas City, U.S.

Competitive Landscape:

Major players operating in the global flexible packaging market include, AR Packaging, Amcor Limited, Ampac Holdings, Llc, Bischof + KleinInternational, Bemis Company, BBC Cellpack Packaging, Berry Plastics Group, Inc., Constantia Flexibles Gmbh, Clondalkin Group, Flair Flexible Packaging Corporation, Goglio Group, Huhtamäki Oyj, Mondi Group, Schur Flexibles, Sealed Air Corporation, Südpack Verpackungen, Sonoco Products Co., and Wipak Group.

Market Segmentation:

By Product Type

Stand-up Pouches
Vacuum Pouches
Retort Pouches
Converted Roll Stock
Gusseted Bags
Wicketed Bags
Laminated Tubes
Squeezable Bottles
Others

By Material Type

Polymer

Polyethylene

LDPE
HDPE
LLDPE

Polypropylene
BOPP
Cast polypropylene
BOPET
Polyamide
Poly Vinyl Chloride
Ethylene Vinyl Alcohol
Poly Styrene

Paper
Aluminum
Cellulosic

By Application

Consumer Goods

Food & Beverages

Dairy Products
Bakery & Confectionery
Ready-to-Eat Food Products
Frozen & Chilled Food
Tea
Others

Personal Care
Pharmaceuticals
Tobacco
Others

Industrial and Institutional

Global Flexible Packaging Market, By Region:

North America

By Country:

U.S.
Canada

Europe

By Country:

U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe

Asia Pacific

By Country:

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

By Country:

GCC Countries
Israel
South Africa
Rest of Middle East & Africa

Need Customize Report? Please Visit @ https://www.coherentmarketinsights.com/insight/request-customization/3773

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

Contact Us:

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: [email protected]
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter