Flexible Packaging Market Share | Size And Segment Forecasts To 2022

Worldwide flexible packaging industry was valued at 19,800 kilo tons in 2014. Furthermore, rising population in countries like china and India is augmenting the food requirement in the region. This is anticipated to impact the overall market over the forecast period.

Several advantages of flexible packaging are less raw material required, container variety, its light weight and easy disposable. These advantages are further anticipated to fuel the market growth. Although, price unpredictability of raw materials involving plastic is the major factor expected pose a threat to the market growth.

Augmenting demand for compact packaging has provided impetus to pouch segment and flexible segment encouraging access of new market players over the forecast period. Furthermore, low shipping costs, fewer storage requirements and increasing consumer preference.

                U.S. flexible packaging market volume by application, 2012-2022 (Kilo Tons)

In 2014, food & beverage application segment contributed for over 80% of the total share. Besides, rising demand for packaged food such as cake mixes, ready-to eats meals, and snack foods is likely to encourage manufactures to boost the production capacity hence increasing the flexible packaging demand over the coming years.

Second biggest application for flexible packaging market was pharmaceutical and contributed over USD 16,000 million in 2014. Expanding occurrences of lifestyle associated diseases such as diabetes, high blood pressure and obesity among the working population mainly in developing economies of BRICS is likely to increase pharmaceutical products demand. This will impact the demand for flexible packaging over the forecast period.

In 2014, Asia pacific market for flexible packaging contributed over 35% of the total volume share in 2014. Rapid industrialization resulting in establishment of several food& beverage and cosmetics manufacturing units mainly in China and India is projected to impact the market growth positively over the forecast period.

In 2014, Europe was the second major segment for flexible packing. This region contributed for over USD 54,700 million in 2014.  On addition, rising healthcare sector in Europe is likely to boost pharmaceutical demand.

Major firms operating in the flexible packaging market are Sufpack, Amcor, Coveris, Bischof & klein, toppan printing, Bemis sealed air and Fujimori kogyo. The worldwide industry is highly segmented on account of existence of several players. Key firms are expected to shift manufacturing base to emerging regions like India and China owing to the low labor cost and production in the region.

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Flexible Packaging Market Analysis By Raw Material And Segment Forecasts To 2022

Global flexible packaging market size is expected to reach USD 293.03 billion by 2022, according to a new study by Grand View Research, Inc. Rising need for durable, light weight and compact products among consumers is expected to be a key driver for market growth over the forecast period. 

Retail industry growth along with increasing acceptance of supermarket culture in emerging markets of Asia Pacific and strong export scenario is expected to have a positive impact on the flexible packaging industry growth over the forecast period. 

High use in various applications including food & beverages and pharmaceuticals on account of less raw material requirement, undemanding storage space and easy disposal will be favorable for industry growth. 

North America flexible packaging market is expected to witness considerable growth in light of rising R&D expenditure for introduction of biobased plastics. However, raw material price volatility is expected to challenge growth over the next seven years. 

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Further key findings from the study suggest:

• Bioplastics are expected to be the fastest growing segment in terms of volume. It is expected to grow at a CAGR of 15.4% from 2015 to 2022. Prevalence of stringent government regulations particularly in Europe has led to increasing demand for environment friendly material. This is expected to augment bioplastics demand in the industry over the next seven years.
• Plastics dominated the flexible packaging industry with demand estimated over 15,800.0 kilo tons in 2014. Plastics can be modified by co-polymerization through use of various additives to match exact packaging requirements of various products, thus resulting in high demand.
• Food & beverages was the largest application segment estimated at 15,935.4 kilo tons in 2014. Flexible packaging provides easy transportation, convenient storage and disposal characteristics making it favorable for use in food & beverage application. Growing consumption of snacks such as chips, sausages and breads in emerging markets of China, India and Middle East in light of expanding food retail industry and new product launches is expected to increase consumption.
• Asia Pacific was the largest market, estimated over 7,800 kilo tons in 2014. Population growth, rising disposable income along with rapid urbanization is expected to augment food & beverage industry in China and India. This in turn is expected to fuel flexible packaging demand over the next seven years.
• Global market is fragmented on account of presence of numerous companies. These companies invest highly in R&D to introduce innovative products. Maxwell Chase Technologies and Mitsubishi developed antimicrobial flexible packaging films using additives such as silver and naringanase.

Grand View Research has segmented the global flexible packaging market on the basis of raw material, application and region: 

Flexible Packaging Raw Material Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)

• Paper
• Aluminum foil
• Bioplastics
• Plastics

Flexible Packaging Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)

• Food & beverage
• Pharmaceutical
• Cosmetics
• Others

Flexible Packaging Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)

• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Latin America
• Brazil
• MEA