ALBANY, N.Y., July 23, 2020
- Manufacturers Offering Products in Flexible Packaging Market Gear Toward Environmental and Economical Sustainability; Food Brands Keen to Adopt Flexible Packaging to Spur their Sustainability Profile
- Opportunities in Bioplastics to Garner CAGR of ~5% During 2019 – 2027; Players Eyeing Sizable Revenue Stream in Asia Pacific; Food Sector to Contribute Major Share of Sales in Market
ALBANY, N.Y., July 23, 2020 /PRNewswire/ -- Various businesses, including in pharmaceutical and food industries, are leveraging an array of characteristics of flexible packaging to improve the marketability of their products. Key advantages these industries reap include high environmental sustainability, better product safety, lower shipping cost, and shelf appeal. In addition, customizable barrier properties of flexible packaging have helped the demand in food sector to grow at the rate of ~5% during 2019 – 2027.
The global flexible packaging market is projected to clock a CAGR of ~5%, vis-à-vis value, from 2019 to 2027 and reach worth of ~US$ 535 Bn by 2027-end. TMR analysts for this market opine that stakeholders will gain revenues by leveraging the quotient of sustainability. They further affirm that those offering multi-layered packaging will unlock competitive value in flexible packaging market.
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Key Findings of Flexible Packaging Market Report
Explore 243 pages of top-notch research, incisive insights, and detailed country-level projections on Flexible Packaging Market (Material: (Plastic, Paper, Metal, Inorganic Oxides, Adhesives & Coatings, and Others; Product: Pouches, Bags & Sacks, Tubes, Liners, Films & Wraps, Labels, Tapes, and Sachets & Stick Packs; End-use Industry: Food, Beverages, Personal Care & Cosmetics, Pharmaceuticals, Electrical & Electronics, Home Care, Building & Construction, Automotive, Chemicals & Lubricants, and Other Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/global-flexible-packaging-market.html
Flexible Packaging Market: Key Driving Factors and Promising Avenues
The conscious shift of industries and end consumers toward packaging that are environmentally sustainable, offer better product protection, and use relatively less materials has been key to steady evolution of the flexible packaging market. Some of the notable drivers and trends supporting this are:
A wide range of protection properties has also nudged pharmaceutical companies to prefer flexible packaging over others. Adoption of flexible packaging helps them maintain product integrity over long duration.
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Flexible Packaging Market: Competitive Dynamics
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Flexible Packaging Market: Regional Landscape
Geographically, Asia Pacific is expected to be a remarkably emerging market. The opportunities in the regional market are expected to grow at ~6% during the forecast years. A strong macroeconomic framework and presence of numerous aspiring packaging producers have kept the region increasingly lucrative. The market's expansion has also been spurred the rise in demand for flexible packaging for food products. A healthy growth stimulus has also come from widespread demand for sachets and stick packets in the region.
The region is expected to hold ~45% share in the global flexible packaging market by 2027.
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The Flexible Packaging Market can be segmented as follows:
Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:
Flexible Packaging Paper Market – Flexible packaging paper is anticipated to gauge high demand in China, owing to increased concerns about health and food safety after the now subsided COVID-19 (Coronavirus) in the region. As such, East Asia is predicted to dictate the highest revenue among all regions in the flexible packaging paper market, where the global market is anticipated to reach a value of ~US$ 65 Bn by 2029. The adoption of flexible packaging is estimated to increase in China to prevent future COVID-19 outbreaks.
Rigid Packaging Market – The packaging sector has witnessed a considerable evolution over the past decade. Due to growing demand for sustainable packaging solutions to innovative and user-friendly packaging alternatives, the packaging sector is undergoing significant developments. Within the packaging industry, competition is expected to be intense between flexible packaging solutions and rigid packaging solutions. Flexible and rigid packaging are both deployed across an array of industrial domains, including food & beverages, consumer goods, healthcare & pharmaceuticals, and chemicals
Contract Packaging Market – Contract packaging offers manufacturers and brands with improved results as far as the overall channel fulfillment and packaging of the brand is concerned. These contract packagers are slowly becoming the mainstay in the overall distribution channel. The companies operating in the global contract packaging market are placed quite uniquely in the overall value chain. These companies are trying to expand their business offerings in order to cater to the several demands and changing needs of the end-use customers. The leading players in the global contract packaging market are providing a wide range of services such as last minute optimization to creative packaging.
Effervescent Packaging Market – The global effervescent packaging market is a multi-billion dollar market and is projected to have a rapid growth through 2027. Effervescent packaging is mainly used for the packaging of effervescent products which need to be protected from getting in contact with moisture. The primary packaging types for effervescent products include blisters, bottles, tubes, sachets, and stick packs. Effervescent Packaging has application in diverse market segments including pharmaceuticals, dietary supplements & nutraceuticals, household, cosmetics & personal care.
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