Flexible Lid Stock Packaging Market is projected to grow USD 1,931 million at a CAGR of 5.9% during the forecast period.
Almost all of the flexible lid stock packaging materials are recyclable and reusable, which is the reason for the increased adoption of these packaging by different industries. The market enables to easily customize and give any design to the packages. This property allows customization, due to which several sectors are largely utilizing it and boosting the expansion of the flexible lid stock packaging market size. The flexible lid stock packaging also increases the product life by protecting it from dust, UV rays, and environmental contamination, which makes it the ideal option for packaging products.
The report provides a detailed idea about the flexible lid stock packaging market structure and portrays the overall market growth aspects. It includes the effect of the COVID19 pandemic over the flexible lid stock packaging industry and also mentions certain factors that impact the market. The report also highlights different segments of the market along with the key players and mentions certain regions that can influence the market growth in the forecast years. The market revenue is surging at a rapid pace over the years due to the higher demand for such packages, and the growth of the market is also expected to have a substantial rise.
The widespread COVID19 pandemic has critically affected the daily lives of people across the globe and declined the growth rate of the economy. Almost all sectors encountered difficulty in conducting their day-to-day work-related functions and have to bear financial losses. Due to the lockdown imposition, industrial operations and manufacturing plants were restricted, which also put pressure on the supply chain. The market also got somehow impacted by the harsh consequences of the pandemic. The demand to supply gap became wider. However, the increased utilization of flexible lid stock packaging by the food and beverages industries during the lockdown has fuelled the market value and helped to maintain normal growth.
In the lockdown, restaurants and hotels mostly remained closed, due to which the food packaging industry depended on the flexible lid stock packaging market. Moreover, the prominent market players are working on better products and developing new market trends to fulfill consumer requirements of the modern world. In the post-pandemic phase, the market will regain its maximum potential and will rise at a faster rate.
Over the years, developing countries are witnessing a rapid surge in disposable income which in turn drives the growth of the flexible lid stock packaging market. Besides the disposable income, the increased demand for ready-to-consume food is also progressing the expansion of the market. Several beneficial features of the flexible lid stock packages like production efficiency, cost-effectiveness, and enhancement of the product life are responsible for elevating the market demand and exhilarating the market value.
The flexible lid stock packaging market outlook represents that the sterile properties of the packages make it suitable to be utilized in pharmaceutical companies, further progressing the market growth. The long-term and easy storage capacities that the market offers also raises its demand by different industries.
As the cost of the raw materials for the production of flexible lid stock packaging is comparatively low than other materials, market players are increasing day by day. The new entrants and presence of established market vendors are creating developments in market trends that are pushing the market growth to greater heights. Handling of these packets is extremely easy due to their barrier properties, and this results in boosting the potential of the flexible lid stock packaging market.
The coronavirus pandemic sudden surge impacted the market and acted as a bigger restraint for the market growth. During the lockdown, operations in industries and production units mostly remained closed. The lockdown restrictions also created a disturbance in the supply chain. However, the increased utilization of flexible lid stock packaging by food and beverages companies in the pandemic has helped to restore the market growth. The market will regain its potential in the post-pandemic phase.
Even though the flexible lid stock packaging market is progressing at a breakneck pace, a few challenges can limit its growth potential. Low resistance to high temperatures can be a major reason for hampering the escalation of market share. The greater time required for degradation of the flexible lid stock packaging also hinders market growth.
As per the market analysis, the greater usage of the flexible lid stock packaging will propel the market value to a much greater extent. In the upcoming years, the market revenue will surpass all previous market values and attain its maximum momentum. The efforts of key market players in offering solutions that overcome the challenges will also lead to an elevation in the demand for the flexible lid stock packaging market during the forecast period from 2020 to 2027.
The flexible lid stock packaging market is categorized into various segments based on application, type, and region.
The market is studied on certain geographies like Asia-Pacific (APAC), Europe, North America, and other parts of the world. The Asia-Pacific region accounts for the largest market share around the world due to the elevated disposable income in developing countries like China and India. The convenience in handling and growing trend of utilizing flexible lid stock packaging to store products in smaller households has also resulted in the growth of the flexible lid stock packaging market.
Flexible lid stock packaging refers to products of packaging through the usage of non-rigid materials into a form of the lid that provides more customizable and economical options. These materials are largely used as they can be sealed and heated over the packages’ open ends. The flexible lid stock packaging market is growing its popularity to a greater extent, mostly due to its high efficiency and cost-effective nature. The lid stock packaging includes a wide variety of materials, from foil and paper to pouches and bags. Such packages are extremely versatile and used in various sectors like personal care, food and beverages, pharmaceuticals, and many more, which is soaring up the potential of the flexible lid stock packaging industry in the present times.
Due to the escalation of disposable income over the years, the flexible lid stock packaging market growth is also increasing. Moreover, the food and beverages industries are also using flexible lid stock packaging so that consumers can easily access ready-to-consume food and beverages. The rising usage demand for this food and beverages is also pushing the growth of the market upwards. Flexible lid stock packaging uses very little material compared to traditional rigid packaging, and its easy formability improves production time while reducing energy consumption. This enhanced production efficiency is helping the market to grow faster.
| Report Attribute/Metric | Details |
| Market Size | USD 1,931 million |
| CAGR | 5.9% |
| Base Year | 2021 |
| 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 | Type, and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Amcor Ltd. (Australia), Bemis Company, Inc. (U.S.), Berry Plastics Corporation (U.S.), Mondi plc. (Austria), Sonoco Products Company (U.S.), EP Industries Ltd. (Alfreton, England), Wipak Germany GmbH (Germany), Anchor Packaging Inc. (U.S.), Coveris Holdings S.A. (U.S.) Sealed Air Corporation (U.S.) |
| Key Market Opportunities | Reduction in the cost of raw materials required for the manufacturing of flexible lid stock packaging Ease of handling the packets with barrier properties |
| Key Market Drivers | Rise in the disposable income in developing countries Increase in demand for the ready-to-consume food |
Flexible Lid Stock Packaging Market Highlights:
Frequently Asked Questions (FAQ) :
The need to provide safe packaging that is sterile is expected to encourage market growth in the forecast period.
EP Industries Ltd. (Alfreton, England), Sonoco Products Company (U.S.), Anchor Packaging Inc. (U.S.) and Wipak Germany GmbH (Germany) are some of the contenders to name a few.
The region of APAC is estimated to have a considerable effect on the global market.
The market is expected to be compelled by a promising 5.9% CAGR.
The segments that are utilized to understand the market are type, application, and region.
Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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