Global Flexible Packaging Market to be Driven by Rising Economic Development During the Forecast Period 2021-2026 – Blackswan Real Estate
Expert Market Research’s new report titled “Global flexible packaging market Report and Forecast 2021-2026′, gives an in-depth analysis of the global flexible packaging market, assessing the market based on its segments such as product type, raw material, printing technology, application and the main regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 106.3 billion
- Forecast CAGR (2021-2026): 4.25%
- Forecast market size (2026): 136.5 billion USD
The global flexible packaging market is driven by the rising popularity of flexible packaging products in the industry and growing demand from end-user segments owing to the cost effectiveness and convenience of the product. Additionally, many advances have been made to change the product and hardware to better meet the growing demand from developing regions. Flexible packaging items, particularly pouches, are growing in popularity due to their widespread use in nearly every end-use industry. Additionally, biodegradable product technologies are propelling the industry forward as customers become more environmentally conscious. The packaging industry is moving towards flexible packaging, due to its multiple energy and environmental benefits.
Industry definition and major segments
Any packaging or part of packaging whose shape can be easily changed is considered flexible packaging. Bags, pouches, shrink wrap, tubes, sleeves, and cartons are all examples of flexible packaging.
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By Product Type, the market is split into:
- printed roll
- Preformed bags and pouches
On the basis of raw materials, the industry is segmented into:
- Aluminium foil
Based on Printing Technology, the market is split into:
The industry is divided on the basis of application into:
- Food and drinks
- Beauty products
Regional markets can be divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The flexible packaging industry is growing due to an increase in demand for snacks and ready meals in small sizes or individual portions. Flexible packaging combines the benefits of plastic, paper and foil without compromising product freshness, barrier protection, durability, printability or ease of use. The market will rise over the forecast period owing to the benefits of flexible packaging. Rising spending on bakery and cereal bars, ready meals, coffee or hot chocolate sticks and sachets, dry and fast foods and other items will drive the growth of the flexible packaging market. Rising income levels, urbanization, lifestyle changes, increased internet penetration, and rapid economic development are all likely to fuel the expansion of the market in the future.
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Main market players
Major market players include Amcor plc, Berry Global Inc., Sealed Air, Mondi plc, DS Smith, and Huhtamaki, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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** At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.