Flexible Packaging Market in APAC 2015-2019
About Flexible Packaging
In broad terms, packaging refers to the technology of enclosing a product for the purpose of storage, distribution, sale, and use. Flexible packaging is a non-rigid method of packaging, and flexible packaging products are made from flexible materials such as plastic, aluminum, and paper. These materials undergo a detailed conversion process such as printing, lamination, coating, and extrusion to develop different types of flexible packaging products, such as plastic bags and pouches, lidding films, foil bags, and sachets. Packaging these days is not only used to protect a product from spoilage, but it has also become important in improving the overall aesthetic appeal of the product, providing essential information about the product, maintaining the freshness of food and beverages, and providing convenience for consumers in terms of handling/carrying the product.
Technavio's analysts forecast the flexible packaging market in APAC to grow at a CAGR of 5.38% in terms of revenue over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the flexible packaging market in APAC for the period 2015-2019. The report provides the segmentation of the market based on the following: product type, raw material, application, and geography.
Technavio's report, Flexible Packaging Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Central and East Asia, and South East Asia and Oceania; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Flexible Packaging Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Flexible Packaging Market in APAC: Amcor, Automated Packaging Systems, Cosmo Films, Innovia Films, Mondi, Printpack, SIT Group and Wipak
Other Prominent Vendors in the market are: Bellmark, CL&D Graphics, Clear Lam Packaging, Fres-co System USA, Glenroy, JL Packaging, Oracle Packaging, Paharpur 3P, PERUPLAST, Phoenix Closures, Prolamina and Rollprint Packaging Products
Commenting on the report, an analyst from Technavio’s team said: “Vendors are currently opting for the acquisitive route to increase their presence in developed and developing markets for flexible packaging, expand their product portfolio, and achieve economies of scale in production. Through acquisitions, vendors are able to focus more on product innovation and increase their profit margins by collaborating with each other. To maintain and expand their market share in the highly fragmented flexible packaging market in APAC, companies are trying to acquire other small packaging companies, and this is expected to positively influence market growth during the forecast period.”
According to the report, nowadays people have busy schedules, so they are looking for convenience in everyday products, especially food, beverages, and toiletries, which require minimum time and effort to open, carry, and store. Most flexible packaging designs incorporate features such as zippers, pouring spouts, and peel-off lids, and many are microwavable, which provides consumers with convenience in consuming and disposing of products. Such designs are increasingly being produced to meet the consumer demand for food and beverage products that offer higher convenience and portability. Therefore flexible packaging is increasingly being adopted by manufacturers of consumer products to suit the needs of their customers.
Further, the report states that the intense price competition affects the profitability of vendors as they tend to reduce the prices of their products to survive in this competitive environment, which is a challenge for the overall market.
Amcor, Automated Packaging Systems, Cosmo Films, Innovia Films, Mondi, Printpack, SIT Group, Wipak, Bellmark, CL&D Graphics, Clear Lam Packaging, Fres-co System USA, Glenroy, JL Packaging, Oracle Packaging, Paharpur 3P, PERUPLAST, Phoenix Closures, Prolamina, Rollprint Packaging Products