Flexible packaging market to reach $99.10 billion in 2019
A New Report Published by Transparency Market Research, "Flexible Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," states that the global demand for flexible packaging was valued at USD 73.56 billion in 2012 and is expected to reach USD 99.10 billion in 2019, growing at a CAGR of 4.4% from 2013 to 2019. Calculating, in terms of volume, the demand was 18,666.0 kilo tons in 2012, and is expected to be 24,728.7 kilo tons in 2019, growing at a CAGR of 4.1% from 2013 to 2019.
The flexible packaging market is a vast and a mature sector in terms of various stake holders such as processors, packaging manufacturers, raw material suppliers, and end-user industries which includes personal care products, manufacturers of food & beverages, and pharmaceuticals. Some of the key materials used in flexible packaging market include polypropylene, polyethylene, paper, polyamide, aluminum, PVC, and so on. It is due to such durable, light weight, and highly aesthetic flexible packaging materials, the market for consumer preferences is rising and is expected to significantly boost the growth of the market over the next coming years.
Due to the high barrier properties, durability, and cost effectiveness, the use of plastics materials has been extensive in the flexible packaging market. Plastics accounted for over 70% of the market share in 2012. Nevertheless, due to the growing awareness towards ecology conservation, the consumer demand for biodegradable packaging materials will boost the demand for cellulose over the next six years. Owing to properties such as high durability and protection from external environmental factors like aesthetic value and sunlight, cellulose is an extremely popular packaging material in comparison to the other packaging materials available on the market. All these factors significantly contribute to the growing demand for cellulose on a global level.
Furthermore, certain research and development activities on flexible packaging technologies have poised great opportunities for nanotechnology in the process of films and printing.
The most demanding industry that is expected to fuel the growth of the market is the healthcare industry. This industry is one of the key contributors to the ascending growth witnessed in the market for flexible packaging. In addition, the food & beverages market -- the largest application of flexible packaging, is predicted to fuel the growth of the market too. Demand for flexible packaging was highest from this sector.
However, in the pharmaceuticals packaging sector, some additional regulations are being implemented due to reduction of fraudulent drugs in the retail market, maintenance of hygiene, and retention of the medicinal properties of the drug. Thus, the global flexible packaging segment is expected to witness the fastest growth in pharmaceutical within the forecast period and is expected to be valued at USD 11.09 billion in 2019.
The study report based on ‘Flexible Packaging market’ gives a comprehensive view of this market in terms of revenue and volume.
The report also includes the forecast for each product, demand analysis and application analysis based on the geographic regions including North America, Europe, Asia Pacific and rest of the world. On account of rapid economic development in Asia Pacific, this region accounted for the highest demand in 2012, and is expected to be fastest growing region, rising at a CAGR of 4.4% from 2013 to 2019. This trend is however planned to continue over the forecast period due to the growth seen in various industries such as food & beverages, personal care products and pharmaceuticals, among others. Meanwhile, regions present in the rest of the world (RoW), including countries such as Brazil are expected to rise significantly in consumption of packaging due to the economic developments.
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