Global Flexible Packaging Market 2017-2021
About Flexible Packaging
Flexible packaging is a package or container that is made of materials that are flexible or can be yielded easily. These containers, when filled or closed, can easily change their shape based on the nature of the product that is being packaged. These can be made from paper, plastic films, aluminum foil, and cellulose. The container can be made from the amalgamation of these materials. It is one the fastest growing segments of the global packaging industry as it combines the qualities of plastic films, paper, and aluminum foil, and provides a perfect protective solution and uses a less number of materials.
Technavio’s analysts forecast the global flexible packaging market to grow at a CAGR of 5.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global flexible packaging market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flexible Packaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global flexible packaging market: Amcor, Bemis Company, Berry Global, Mondi, and Sealed Air.
Other Prominent Vendors in the market are: Aluflexpack novi, Bak Ambalaj Sanayi, CONSTANTIA, CLONDALKIN GROUP, Danaflex, DS Smith, Glenroy, HUHTAMAKI, PRINTPACK, and ProAmpac.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is modified atmosphere packaging (MAP). The increase in the consumption of ready-made packaged foods urges the requirement for a packaging that can preserve the contents inside for a longer period, leading to an increase in the demand for MAP. It helps in increasing the shelf life of foods that are minimally processed.”
According to the report, one driver in the market is demand for convenience by customers. One of the major factors driving the market is the growing need for convenience of customers. The packaging industry has understood the changing demand of the customers and is reciprocating to their changing preferences. The busy life of working professionals urges them to seek convenience in daily-use products, such as food, beverage, and toiletries. They look for products that require the least effort and time to open, store, and carry around.
Further, the report states that one challenge in the market is increasing popularity of online shopping. The increasing popularity of online shopping is one of the major challenges that would affect the growth of the flexible packaging market. The main objectives of packaging are to protect the product and give it an aesthetic look, which will attract consumers and urge them to buy the product. The penetration of mobile and internet is leading to an increase in the adoption of online shopping by people for monthly-use products. The visits to supermarkets have reduced and purchase decisions are not aided by emotions toward the packaging on a shelf.
Amcor, Bemis Company, Berry Global, Mondi, and Sealed Air, Aluflexpack novi, Bak Ambalaj Sanayi, CONSTANTIA, CLONDALKIN GROUP, Danaflex, DS Smith, Glenroy, HUHTAMAKI, PRINTPACK, and ProAmpac.