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Flexible plastic packaging involves various types of plastic materials used for the packaging of different products. The type of material to be used in packaging depends upon the application and the type of product to be packaged. Generally, plastic materials such as Polyethylene, Polypropylene, polystyrene and polyvinyl chloride are used in flexible plastic packaging. It is thin, light, easily stretchable, and is used for packaging of food & beverage products as it protects them from oxidation as well as it extends their shelf life.
The market for global flexible plastic packaging is segmented mainly based on types, printing technologies, and applications. Market categorization on the basis of product type includes Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others. On the basis of printing technology, it has been segmented as flexography, digital printing, and others. Furthermore, on the basis of applications the market of flexible plastic packaging is segmented as food & beverages, pharmaceuticals, personal care, other industries. Flexible Plastic Packaging Market is expected to reach the market size of ~USD 129 billion by the end of forecast period with CAGR of ~5.2% between 2017 and 2023. In the geographical segment, Asia Pacific is the largest market for flexible plastic packaging, due to the increasing demand for flexible packaging in China and India, coupled with the growing food & beverage industry in these countries. Owing to the increasing disposable incomes, the urbanized population is shifting towards healthy and safe packaged foods, the market has been projected to reach the size of ~USD 120 billion by the end of forecast period at ~5.2% CAGR.
Flexible plastic packaging has an extensive application in food & beverage industry. Many companies offer a wide selection of bag and pouches, which is suitable for packing a variety of food products. These packaged products are available in a range of shapes, sizes and materials. The demand for ready-to-eat and on-the-go foods and drinks continues to grow. The increase in consumption of food, increases the consumption of flexible packaging products. Flexible plastic packaging is also used to package dairy products, sauce, honey, and others.
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We recognize the key players in the global flexible plastic packaging market as Amcor Limited (Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).
The latest trend in the market is the momentum. The fragments of the market, and high competitive pressure from large vendors are forcing the small players to combine with the large ones through mergers or acquisitions. This is encouraged by the large players as they can expand their market presence and enter new markets. Mergers and acquisitions help small players adopt new technologies from the large players to survive in the competitive market.
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