Flexible packaging market worth $99,621.9 million by 2018
Asia-Pacific led the global market followed by Europe and North America in revenue in 2012
The market research report “Flexible Packaging Market by End-Use (Food, Beverage, Personal Care & Pharmaceutical), Material (Polypropylene, BOPP, CPP, Polyethylene, EVOH, PA, BOPET, PVC, Aluminum, Paper, Cellulosic) – Global Trends & Forecast to 2018”, is published by MarketsandMarkets (marketsandmarkets.com). According to this report, the flexible packaging market is estimated to grow from $73,825.3 million in 2012 to $99,621.9 million by 2018 with a CAGR of 5.1% from 2013 to 2018. Asia-Pacific led the global market followed by Europe and North America in terms of revenue in the year 2012.
Flexible packaging market is a mature sector that has various stake holders such as raw material suppliers, processors, packaging manufacturers, and end-user industries such as manufacturers of food, beverage, personal care products, and pharmaceuticals. As opportunities to grow in these end-use markets are saturating in developed markets, players are struggling to diversify their product portfolio. The end-use products and their packaging are two interdependent markets. Any shift in one will directly influence the other market. Rise in the consumption of packaged products offers a strong customer base for the global flexible packaging market. Packaging is essential to preserve the quality of the product and it also prevents it from chemical reactions endangering the consumer’s health. Hence, an efficient and suitable packaging is imperative for every product.