Avery Dennison highlights consumer insights from the rapidly growing functional packaging market in a recent white paper. “Consumer Perceptions of Functional Packaging” reveals the features and benefits consumers seek when considering functional packaging. The paper is based on research the company conducted earlier this year.
Functional packaging is changing the way consumers shop for and interact with products and brands. According to Euromonitor International, 190 billion retail units in the food industry will transition to flexible packaging in the next three to five years. Euromonitor also predicts pressure-sensitive reclosures to be the fastest growing closure type globally, with a compound annual growth rate (CAGR) of 6 percent through 2020. Meanwhile, Micromarket Monitor predicts the U.S. flexible pouch market will grow to $29.64 billion by 2021. That’s an estimated CAGR of 5 percent.