Recently a market research company ‘Market Research Future’ has stated in its latest report that the flexible plastic packaging market is expected to keep rising with market size of ~USD 129 billion by the end of the estimated years of expansion (2017-2023) with CAGR of ~5.2%. The market will eventually wear out optimistically in the future. It also states that the market forecasts that the flexible plastic packaging market in India will be growing at a CAGR of 24.21% over the same period of expansion. These research figures, coupled with the growing demand for flexible plastic packaging, ascertain that the industry is firmly on the upward trajectory, and the modern consumer is totally obsessed with it.
As we know that the 21st century is a time of fast-paced lifestyle, where everybody has become busy and stays in a hurry to reach their destinations, work, and what not. With changing time, the taste and the needs of consumers have also went through a sea change. The consumer today is not only demanding, but also is fully aware of things going around, and all of them are always looking for value of money. So, to meet the necessities of the new age consumer, many manufacturers have turned to flexible packaging solutions. In today’s time, it is the only source that has come up with a high standard of functionality and sustainability, making it perfect for on-the-go consumers for various purposes.
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With the news out of the World Economic Forum that the use of plastics is anticipated to dual in the next 20 years and is also probable that major economic and environmental organizations would call for ways to use these valuable materials wisely.
The use of lightweight, flexible plastic packaging enables cascading benefits, such as extending food life without refrigeration, reducing transportation emissions, and delivering snack-size meals that help prevent food waste. Using plastic, as opposed to alternative materials in consumer goods and packaging, is estimated to keep the environmental costs to nearly four times less than they would be otherwise. Further, there are many more aspects of flexible plastic packaging that has given a fillip to its market through rising demand. Durability, convenience, cost-effectiveness, design-ability, and eco-friendliness, and more are some most extravagant aspects that have made plastics a darling for the manufacturers, all over the world. In plastics, flexible packaging is the segment that has in reality caught the attention of the end-users and made the global flexible plastic packaging market.
For consumers, flexible plastic packaging has some of the best following advantages to offer those are as follows—
- It is lightweight and convenient; therefore, it could be carried around without any hassle.
- It is cost-effective than any other packaging solutions.
- The materials used also allows plastic packing products of any shape, design & color, size as well as volume.
- Slider & Zipper pouches are one of the most effective flexible plastic packaging solutions that let reclosing of the product without compromising the quality of product. This results in adding to the functional advantage of using flexible plastics for efficient packaging.
- Intelligent and smart, flexible plastic packaging is further known for ensuring protection from contamination and spoilage of food.
- Flexible plastic packaging is sustainable and can be recycled relatively easily for the maximum period.
In a country like India, among the rest of the world, a majority of FMCG and household products are welcomed with wrapped and packed in plastics. The plastic packaging presentation of consumer goods has been increasing at a swift rate.
Many of India’s largest flexible plastic packaging companies strongly believe that the most significant advancement in the field of packaging is flexible packaging. The companies have always been working towards creating sustainable options of flexible plastic packaging that bring immense value to the customers. Being on the edge of innovation, the companies offer packaging solutions to top-notch brands of the world that sell the products safe and fresh. With continuing R&D for bringing safer, environment-friendly, and innovative packaging, the companies remain committed to smart and sustainable packaging solutions at the most competitive price.
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Efficient key Players listing in the worldwide flexible packaging market are
- Constantia Flexibles Group GmbH
- Amcor Limited
- Sealed Air Corporation
- Mondi Group
- Bemis Company Inc. Coveris Holdings S.A.
- Huhtamaki Group
- Sonoco Products Company
- Ampac Holdings LLC.
Table Of Contents
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
Continued…
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