SAN FRANCISCO, December 10, 2018
SAN FRANCISCO, December 10, 2018 /PRNewswire/ --
The global flexible plastic packaging market size is projected to reach USD 179.69 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% during the forecast period. Significant demand for the product in the food & beverage and healthcare industries is a key growth stimulant for the market.
Polyethylene is the most widely used material for the production of flexible plastic packaging. The segment is expected to account for the largest share in the market during the forecast period owing to its abundant availability and considerable decline in manufacturing costs. In terms of type, the demand for flat pouches is estimated to register significant rise over the same period owing to its applicability in various industries. These pouches are preferred for their convenience regarding storage and transportation.
The demand for the product in the food & beverage industry is backed by growing popularity of stand-up pouches and flat pouches on retail shelves. The pharmaceutical industry offers a lucrative opportunity for the global flexible plastic packaging market owing to increasing health awareness among consumers, burgeoning popularity of convenient packaging, and a substantial increase in processing units (product) from a manufacturer's standpoint.
In this regard, Europe has also contributed significantly to the growth of the pharmaceutical industry, thereby strengthening the flexible plastic packaging market in the region. Some of the key countries that have witnessed upswing in the demand for pharmaceutical products are Belgium, Denmark, France, Germany, Ireland, Italy, and Switzerland.
Asia Pacific is likely to be a promising destination for flexible plastic packaging manufacturers, notably emerging countries such as China, Japan, and India. Manufacturers are focusing on setting up their manufacturing plants close to sources of raw materials in the region, on account of their cheap availability. Low labor cost is another factor that is attracting manufacturers to strengthen businesses in this region. Asia Pacific is also the largest market for beverages. This has offered lucrative opportunities to manufacturers to cater to packaging requirements of the beverage industry in the region.
Browse full research report with TOC on "Flexible Plastic Packaging Market Size, Share & Trends Analysis Report By Material (Polyethylene, Polyamine, PVC), By Type (Flat Pouches, Stand-Up Pouches), By Application, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/flexible-plastic-packaging-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global flexible plastic packaging market on the basis of material, type, application, and region.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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