Published on : Apr 29, 2016
The flexible packaging market, characterized by convenience, has been driving the overall packaging industry for the past few years. The growing usage of improvements in manufacturing practices, flexible films, and continuous technological innovations have led to a huge demand for flexible packaging in the recent years. The advantages of flexible packaging such as easy handling, convenience and storage, and cost savings are also likely to propel this market in the coming years.
Segmentation of Overall Flexible Packaging Market
The global flexible packaging market is segmented basis of end user, packaging type, material, printing processes, and geography. The end uses of flexible packaging market are consumer products, retail food, industrial, medical and pharmaceuticals, retail non-food, institutional food, institutional non-food, and others. The types of flexible packaging are stand-up pouches, flat pouches, converted roll-stock, gusseted bags, wicket bags, and others. The types of materials used in this market are Poly Vinyl Chloride (PVC), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyethylene (PE), Polyamide (PA), Ethylene Vinyl Alcohol (EVOH), and others (paper, aluminum, and cellulosic).
Asia Pacific to Lead Overall Market
Geographically, this market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Currently, North America is the biggest shareholder of the global flexible packaging market with the highest contribution of revenue. According to research analysts, the flexible packaging market Asia Pacific is expected to grow at a steady pace in the coming years due to rising disposable income, growing demand for improved packaging, and new packaging trends in the end-user sectors.
India and China to Drive Growth in Asia Pacific
Furthermore, the increasing population rising population, growing demand for beverages, packaged foods, personal care products, and pharmaceuticals are also expected to drive the growth of the flexible packaging market in Asia Pacific. Countries such as India and China will be at the epicenter of this demand. On the other hand, the demand for flexible packaging is expected to stagnate in North America due to saturated end use market.