This report provides exclusive insights into the COVID-19 impact on the Flexible Packaging Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Flexible Packaging Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Flexible Packaging Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on flexible packaging market provides in depth analysis of segments and sub-segments in global as well as regional flexible packaging market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional flexible packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global flexible packaging market. According to the report the global flexible packaging market is projected to grow at a CAGR of 3.7% over the forecast period of 2018-2024.
According to the Flexible Packaging Association, flexible packaging is any package or any part of a package whose shape can be readily changed. Common examples of flexible packaging are bags and pouches. Flexible packages are used for consumer and institutional products and in industrial applications to protect the market and distribute a vast collection of products. The main advantage of using a flexible market is that flexible packaging is reusable. Features such as zip locks, spouts, and resalable seals make usage more convenient. Flexible packaging is made from high-grade materials. These bags use (FDA) Food and Drug Administration approved food grade materials that are contaminant free and perfectly safe.
Increased product shelf life and increasing demand for consumer friendly packages and enhanced product protection drive the growth of the flexible packaging market. Moreover, the increase in demand from healthcare, cosmetics, food, and beverages and other agricultural products is fuelling the growth of the flexible packaging market. Innovation and technology have enabled flexible packaging manufacturers to use fewer natural resources in the creation of their packaging. Moreover, improvements in production processes have reduced water and energy consumption, greenhouse gas emissions and volatile organic compounds. However, stringent government regulations regarding polymer and recyclability of packaging material are likely to hamper the growth of the market. Furthermore, easy transportation and storage along with sustainable properties as well as the expansion of industry for export trading are the factors providing several growth opportunities for the key players in the flexible packaging market.
Among the geographies, Asia Pacific accounted for the largest share in the flexible packaging market followed by North America. The growth in the Asia Pacific region is attributed due to the large custom base for production and increase in population. Moreover, expansion of the E-commerce industry particularly in china, India, and Vietnam are anticipated to trigger the industry growth. Moreover, the establishment of new manufacturing units by the government of Mexico has resulted in the development of new manufacturing facilities in the North American regions. On the other hand, robust growth in the healthcare sector due to the huge demand from the pharmaceuticals is influencing huge demand for flexible packaging over the years to come.
The report on global flexible packaging market covers segments such as product, material and end-user industry. On the basis of product, the global flexible packaging market is categorized into pouches, bags, wraps, and others. On the basis of material, the global flexible packaging market is categorized into plastic, flexible foam, paper, aluminium foils, and others. On the basis of end-user industry, the global flexible packaging market is categorized into food, beverages, pharmaceutical and medical, personal care and household care, tobacco, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global flexible packaging market such as Reynolds Group Holdings Limited, Mondi Group, Berry Plastics Group, Inc., Sonoco Products Company, Coveris Holdings S.A., Huhtamäki OYJ, Bemis Company, Inc., Sealed Air Corporation, Constantia Flexibles Group GmbH, and Amcor Limited.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global flexible packaging market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of flexible packaging market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the flexible packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the flexible packaging market to understand the present and future trends in this market and formulate their strategies accordingly.