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Flexible Packaging Market - Market Leader
The global flexible packaging market is emerging with a positive growth due to the rising consumption of flexible packages in the end-use applications such as food, beverage, personal care products, and pharmaceuticals. There is a continuous need of innovations in the flexible packaging industry to gain a competitive edge over the other players. There is no other substitute to packaging, so more innovation and versatility is required in the existing products. Therefore, all the key companies have their own research and development department to provide new and innovative packaging to their customers.
The rising health concerns and environmental risks have promoted various regulations, which have further resulted in increased consumption of flexible packages in different end-use segment as well as in different regions. In order to achieve this hike, innovations are being undertaken to meet the synchronization of consumer needs as per their requirements. The demand for renewable and sustainable resins is also gaining hold in this industry.
Asia-Pacific market has tremendous opportunities for flexible packaging and its end-use applications. This region has emerged to be the driving factor for this market, contributing to around 34.0% of the global demand. China is the market leader in the Asia-Pacific region due to the changing lifestyle, urbanization, and changing consumer taste and preferences. The other emerging economies such as Brazil, Russia, India, etc. are further lined up for future growth in this market. The company such as Sealed Air Corporation invested in new technology and manufacturing capabilities at its Kuantan plant in Malaysia to improve production of its ethafoam specialty packaging. This expansion includes setting up two production facilities for shrink films and foam packaging solutions to meet the markets demand.
Through their organic growth strategies of expansion and new product developments, the companies are expanding worldwide. The key companies operating in this market such as Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), Bemis Company Inc. (U.S.), Mondi (South Africa), Huhtamäki Oyj (Finland), and Sonoco Products (U.S.) are engaged in innovating their products as well as enhancing their penetration in the global flexible packaging market.
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
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