Flexible Packaging Market in Europe 2018-2022
About Flexible Packaging
Flexible packaging is made of flexible or easily yielding materials, which when filled with a product readily changes the shape. The packaging can be made of plastic, paper, or aluminum film or foil or combination of these materials.
Technavio’s analysts forecast the flexible packaging market in Europe to grow at a CAGR of 4.61% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the flexible packaging market in Europe for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of flexible packaging.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Flexible Packaging Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the flexible packaging market in Europe: Amcor, Bemis , Berry Global , Constantia Flexibles, Sealed Air
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising market share of digital printing in flexible packaging. As of 2017, the major share of flexible packaging is used for food packaging, and the majority of these packages are printed using the conventional printing method of flexo printing, a cost-effective method of printing suitable for medium-to-long-run volumes with around 3-4 weeks of average turnaround times.”
According to the report, one of the major drivers for this market is Reduction of up to 82% of plastic weight in flexible packaging in comparison to rigid packaging. The growing focus on sustainability is increasing the need for companies to adopt strategies to lower the plastic waste generated by them. The increased focus on sustainability is fostering the demand for flexible packaging. The exhibit below shows the differences between rigid packaging and flexible packaging. In the exhibit below, a rigid high-density polyethylene (HDPE) bottle is considered to have a volume of around 1 gallon, and a flexible plastic pouch is considered to be of the same volume, for the sake of comparison.
Further, the report states that one of the major factors hindering the growth of this market is Rigid packaging holding more than 70% share of market. The global packaging market comprises rigid and flexible packaging. There are different types of rigid packaging solutions made from materials such as plastic, glass, and metal. For example, glass bottles are used for packaging food products such as ketchup. The global rigid packaging market is expected to grow at a CAGR of more than 4.5% during the forecast period. Factors such as the high recycling rate are driving the global rigid packaging market. In 2017, the average glass recycling rate in the EU was more than 70%.
Amcor, Bemis , Berry Global , Constantia Flexibles, Sealed Air