ID: MRFR/PNT/1751-CR | 110 Pages | Published By Tejas Chaudhary on August 2017
Converted flexible packaging is anticipated to reach USD 94,895 million by the year 2027 and register a CAGR of 5.5%
Converted flexible is one of the packaging kinds, which incorporate combining unprocessed materials like polyesters, plastics, adhesives paper, and paperboard, to manufacture new packaging materials, like bags and pouches. It is widely used over users like food and beverages, pharmaceuticals, personal care, and consumer goods. The market size of Converted flexible packaging is anticipated to reach USD 94,895 million by the year 2027 and register a CAGR of 5.5%.
Innovative packaging techniques with modernized in various crucial fields of material performance, besides with growing usage in consumer region, including food and beverage, and, health and beauty, pharmaceuticals are anticipated to support market forecasts. The continuing conversion from tight to flexible formats and customer interest in one-use packaging will be leading to continue and drive the flexible packaging material trend.
The pandemic outbreaks and offer guidance for stabilizing the financial status. The market for converted flexible packaging is growing due to its requirement and demand. Even though, covid impacts almost all the business sectors globally, the market share of the converted flexible packaging market is rising vigorously. With the help of more effective techniques specified in this Flexible Plastic Packaging market analysis, large corporations could easily extend their production and business or material collection.
The Covid-19 pandemic shutters the world with lockdowns and effective curfews, during that time a huge number of customers preferred online grocery and provision shopping, a new trend that will undeniably continue. In addition, Online grocery will distend to 21.6% of total United States grocery sales by the year 2025, it values more than increasing its current market share of the entire grocery market, a recent survey by grocery e-commerce expertise Mercatus. Such statistics depict that the outbreak of the pandemic has raised the market share in the online medium.
The conversion from firm packaging to converted flexible packaging and rising consumer choice for packaged food or material are major key factors of the market drivers of converted flexible packaging.
Seafood will be the leading food market that drives the growth of the converted flexible packaging industries. Seafood may lead the trend of the market as contrary to poultry and meat across the upcoming years and might be encouraged by continuous customer demand for personally wrapped portions and also pre-seasoned and case-ready proteins.
Bags and pouches used in the poultry, meat, and seafood production market are generally high-restricted products that aid to expand the shelf life and increase the expiry date of these products. These kinds of products are highly perishable. In addition, a vast range of value appended features is utilized in this market to increase marketability or convenience.
The main market divisions for flexible packaging are art & education, food & beverages, household products, consumer products, medical and pharmaceutical, healthcare, toiletries and cosmetics, market supply food, industrial apps, supplements and nutritional, horticulture, agricultural, and veterinary & pet foods. These industrial sectors demand the market of converted flexible packaging. It leads to the rise of the market trend and market growth.
Enhancing the value for converted flexible packaging market trend in the perishable (easily degraded) proteins market involves peel films, room fresheners cook bags and films, enhanced leak and damage resistance, odor control, freshness expanding components, films that permit for high-quality screening and printing, and pouches. These are all the other key factors that require better packaging technology like the flexible packaging market trend.
Though the market of converted flexible packaging has many benefits and growth there is a loophole that restraints the growth of the flexible packaging market. Those are the factors like strict regulations on the production of converted flexible packaging that might challenge the growth and development of the market.
Converted Flexible Packaging market gaining the attention among the consumers. Due to the conversion in customer preference and awareness about the benefits of using converted flexible packaging solutions. The main restricting factors in the converted flexible packaging could be the goods mostly used is only dry food products, this type of packaging is not suited for liquid-based products.
The converted flexible packaging factories are being challenged by growing product costs and huge demand for materials like low-fat munches, which need innovative ideas and enzymes combinations to reach the expectations of packager demand for freshness. Technological improvements encompass controlled-environment and changed-atmosphere packaging, which output to many extends the shelf life of products such as meats, and fresh products.
Novel resins, for example, metallocene that is powerful and much better than traditional products. The packaging technique varies for the materials used to pack the product depending upon the quality packaging the growth of the market increases. Sometimes, the same factor challenges the market rise. Handling the products with care retains the packaging quality. Some consumers prefer the features like zippered bags and customized closures.
The growth of the international converted flexible packaging market depends on the requirement for innovative and unique packaging techniques, changing consumer preferences, enhanced standards are anticipated to improve the demand for the market of converted flexible packaging. The market size of the converted flexible packaging was at USD 80.7 billion in the year 2019 and is anticipated to reach USD 94,895 million by the year 2027 and register a CAGR of 5.5% during the forecast period.
Unique packaging techniques with modernized in various crucial fields of material performance, besides with growing usage in consumer region, including food and beverage, and, health and beauty, pharmaceuticals are anticipated to support market forecasts. The continuing conversion from tight to flexible formats and customers' interest in one-use packaging will lead to continue and drive the converted flexible packaging market trend.
The most attractive attribute of this converted flexible packaging market survey is that it represents measurable data in a graphical method. It depicts the reality of economic origin. The conversion from firm packaging to converted flexible packaging and rising consumer choice for packaged food or material are major key factors of the market drivers of converted flexible packaging. Plastic in the type of PE, PVC PP is used widely in plastic-based converted flexible packaging sectors. These materials offer high restrictions, cost-efficiency, heat resistance, and long-lasting, durable packaging choices. These major factors are fueling the demand for plastic products.
It advises high-level enterprises on how to grow their market stand over methods like mergers partnerships and collaborations. It also aids in generating successful business methods and support firms make better choices and decisions. Deciding pricing methods and also product features to avoid the risk of the converted flexible packaging market trend.
The unstoppable growth in the packaging industries in the region of Asia Pacific is the major factor increasing the market growth. The rising number of online stores and supermarkets in the same region resultant as the high requirement for multipacks of several grocery materials are anticipated to enhance the need for products of converted flexible packaging. Japan, China, Thailand, and India are the main investors in the APAC market. China was responsible for the leading market share, owing to the fast rise in industrial development and urbanization.
The region of North America was another major international market of flexible packaging converter. Fast growth in the stock industry of the region of North America is another factor fueling the market growth. The main converted flexible packaging producers like Sealed Air Corporation, Bemis Company, and Sonoco Products firms among other manufacturers are occur in the region of North America. These factors create a positive impact on the rise of the market share. The United States is responsible for the major reason for increasing market share from the North American region.
In the year 2019, Amcor Ltd launched an extension of its flexible packaging company divisions in the methodologically important region of Northern China, with the addition of HebeiQite Packing Company Limited value at USD 28 MN. This accession may aid to enhance the growth of modern and existing consumers in the considerate northern part of the APAC region.
ProAmpac declared that it has obtained UK-oriented Ultimate Packaging, a specialist in flexographic and flexible packaging in the field of digital printing films. We were esoteric in the development of unique, environment-friendly packaging methods for a broad range of product menus. To make this possible, ProAmpac boosted its position in the market of flexible food packaging, widen its range of eco-friendly products, and extends its presence over the United Kingdom.
This report has covered:
|Market Size||USD 93,795 million 2030|
|CAGR||5.7% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bemis Company Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), Constantia Flexibles Group GmbH (Austria), Graphics Packaging Holding Company (U.S.), Bischof + Klein SE & Co. KG (Germany), Honeywell International Incorporated (U.S.), Ampac Packaging LLC (U.S.), and Oracle Packaging Inc. (U.S.)|
|Key Market Opportunities||Rapid growth in the retail industry of the North American|
|Key Market Drivers||
The converted flexible packaging market value can touch USD 94,895 million by 2030.
The converted flexible packaging market is expected to display 5.5% CAGR from 2022 to 2030.
Environmental advantages of converted flexible packaging is the major driver of the market.
Pouches can capture a large market share over the forecast period.
Asia-Pacific can lead in the converted flexible packaging market.
Bemis Company Inc., Sealed Air Corporation, Honeywell International Incorporated, Constantia Flexibles Group GmbH, Oracle Packaging Inc., Sonoco Products Company, Bischof + Klein SE & Co. KG, Ampac Packaging LLC, Graphics Packaging Holding Company, and Amcor Limited are key players of the global converted flexible packaging market.