NEWS

The global flexible packaging market will grow at a compound annual growth rate of 4.7%

January 15, 2019

The surge in demand can be attributed to technological improvements, changing lifestyles and modern retail.

Grand View Research said in its new report "2012-2022 raw materials (paper, aluminum foil, plastics, bio-plastics), applications (food, pharmaceutical, cosmetics) and flexible packaging market size, share and trend analysis forecast report", 2016 global flexible packaging The market size reached US$22.82 billion, and its compound annual growth rate is expected to be close to 4.7% during the forecast period. As the population of the Asia-Pacific region increases, especially in India and China, increasing food demand is one of the key trends driving market growth.

The packaged food market in the US and Europe has grown rapidly in recent years. The development of production technology and improved packaging practices are expected to benefit the market.

The packaged food industry is driven by innovations in processing technology that are used to improve the shelf life of food. Snack foods and beverages have a particularly high demand for flexible packaging. The surge in demand can be attributed to technological improvements, lifestyle changes, modern retail and fast-service restaurants.

In the past few years, the development of science and nanotechnology has changed the food and processing industries. Nanotechnology is in the mainstream of functional food, preservation, packaging, processing and food production. Food packaging is the earliest commercial application of nanotechnology in the food sector.

The rising standards of living in emerging economies such as Brazil, South Africa and Russia have increased consumer purchasing power, stimulating demand for quality products. As consumer lifestyles change and demand for environmentally friendly packaging materials increases, the demand for flexible packaging will increase in the coming years.

Consumers, especially those in North America and Europe, prefer lightweight and aesthetic packaging. This will increase the use of plastic-based flexible packaging during the forecast period.

On the basis of raw materials, the market can be subdivided into paper, aluminum, bio-plastics and plastics. Plastics are the most important raw material segment, accounting for 80% of global sales in 2014.

Plastic flexible packaging is widely used in the food and beverage industry because they can take a variety of forms and shapes. Most of the plastic packaging used in various industries in the past few years has come from fossil fuels. By 2022, demand for plastics will continue to remain strong.

However, due to increasingly stringent regulations, the demand for bio-plastics is expected to gain momentum in the coming years. It is expected that the increase in demand for landfill waste will increase the growth of this segment.

Food, bread, confectionery and snack packaging applications are increasingly demanding bio-based PLA films due to their ease of recycling and biodegradable properties, which provides good conditions for the market.

During the forecast period, aluminum materials will also have great demand. The increasing use of household aluminum foil and food and beverage is expected to promote the development of this field.

From the application point of view, the flexible packaging market has been subdivided into food, beverage, pharmaceutical, cosmetics and so on. Food and beverage is the largest application area, accounting for more than three-quarters of global sales in 2014.

The growing demand for packaged foods (including ready-to-eat foods, frozen foods, snack foods and cake mixes) has prompted manufacturers to increase production capacity and thereby increase demand for flexible packaging during the forecast period.

A key trend driving the demand for flexible packaging is the rapid development of the global pharmaceutical industry. Due to advances in science and technology, the pharmaceutical industry has experienced significant growth over the past few years, and this trend is expected to continue during the forecast period, especially in developing countries such as China, India and Brazil. In the same year, cosmetics accounted for the third largest market share.

The Asia Pacific region is the largest regional market, accounting for 39.7% of the global total in 2014. Due to the booming food and beverage industry, the region is expected to dominate the entire forecast period, especially in China and India.

In North America, the Mexican government lifted regulations restricting new manufacturing units, which led to the development of new production facilities for large companies including Takeda, Daiichi Ranbaxy and Astellas. Europe accounts for the second largest market share in the world, accounting for 33.6% of the global market in 2014.