Press Release: April 18, 2020
Global flexible plastic packaging market was estimated to be USD 107.4 billion in 2016 and is projected to reach USD 137.9 billion by the end of 2021, exhibiting a CAGR of 5.1% during 2016–2021 on account of factors such as cost effectiveness and performance advantages of lightweight bags and pouches, increased shelf life of the product and growing industrial demand for downgauging as well as high demand from the end-use industries, especially food & beverages. The above stated reasons are likely to positively impact the market in the coming years.
In addition, growing inclination towards user friendly packaging as well as augmenting demand from food & beverage and healthcare industries worldwide are the other major factors fuelling growth of the flexible plastic packaging market, globally. On the basis of material, plastic films segment held the largest share in 2016 due to increased preference of the product in multiple end use industries. On the basis of type, stand-up pouches segment commanded the market in 2016 and is forecast to witness the highest CAGR during 2016–2021.
Asia-Pacific grabbed the largest share in the market in 2016 owing to escalated demand for fast moving consumer goods by the people, especially in the emerging economies such as China and India. On the other hand, North America flexible plastic packaging market is matured and developed, wherein ‘the United States’ was estimated to hold the largest share in North America flexible plastic packaging market in the indicated year.
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The research report “global flexible plastic packaging market” provides in-depth analysis of global flexible plastic packaging market based on type, material, application and major geographies from the period 2016 to 2021. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for flexible plastic packaging market. Further, the report also analyses the competitive landscape and the major players and their market share in 2016. The competitive landscape section of the report also captures and states the recent development in the market.
Additionally, the report has also covered profiles of the major companies active in the field, including Amcor Limited, Sealed Air Corporation, Constantia Flexibles Group GmBH, Mondi Group, Bemis Company Inc., Huhtamaki Oyj, Berry Plastics Group Inc., Reynolds Group Holdings, Wipak, Coveris Holdings S.A. and ProAmpac.
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