Flexible Packaging Market Size, Share & Trends Analysis Report By Raw Material (Paper, Aluminum Foil, Plastics, Bioplastics), By Application (F&B, Pharmaceutical, Cosmetics), And Segment Forecasts, 2012 - 2022
Growing demand for the product in the food and beverage sector is expected to stir up the growth of the market over the forecast period.
Plastic is the most widely used raw material for flexible packaging. Rising adoption of compact packaging has given impetus to the demand for flexible bags and pouches, encouraging entry of new market participants in the near future. These materials have high potential in the market on account of rising consumer preference, low shipping costs, and less storage requirements.
Major companies focus on innovation to cater to target consumers by launching products in extremely small size packs such as pillow packs and sachets, which comprise diverse products from shampoos, conditioners, face creams, and toothpastes to chewing tobacco and other related goods. In addition to this, savory snacks, condiments, and biscuits have been launched in smaller packs to cater to the rural market.
Majority of the manufacturers are integrated across various stages of the value chain as the demand for the product is largely dependent on requirements of various applications including food & beverages, cosmetics, and pharmaceutical industries. Food and beverages is the largest application segment on account of rising demand for increased shelf life and easy disposal and variety of containers.
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Further Key Findings from the Report Suggest:
Grand View Research has segmented the global flexible packaging market report on the basis of raw material, application, and region:
Flexible Packaging Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2022)
Flexible Packaging Application Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2022)