MOSCOW (MRC) -- By 2019, global demand for flexible packaging will be valued at USD99.10 billion, registering a 4.4% CAGR from 2013 through 2019, said Plastemart, citing Transparency Market Research.
By value, the global demand for flexible packaging in 2012 was pegged at USD73.56 billion. The report also estimates the market in terms of value, stating that the demand will go from 18,666.0 kilo tons in 2012 to 24,728.7 kilo tons in 2019, charting a CAGR of 4.1% through 2019.
The convenience offered by plastics in packaging is unparalleled, making it the dominant segment in the market (70% market share as of 2012). However, the market is beginning to turn in favor of cellulose-based flexible packaging over the next five years, as environmental consciousness heightens. Nanotechnology could potentially create path-breaking developments in the global flexible packaging market as intensive R&D activities are being reported in this domain.
Flexible packaging for the pharmaceuticals market will be an area to watch out for as new tamper-proof packaging mandates have opened up opportunities here. The report also states that the Asia Pacific region will present the highest scope for growth through 2020.
Packaging is essential to preserve the quality of the product and it also prevents it from chemical reactions endangering the consumer’s health. Rise in the consumption of packaged products offers a strong customer base for the global flexible packaging market. Hence, an efficient and suitable packaging is imperative for every product.
The important materials used in flexible packaging market are polyethylene, polypropylene, BOPET, EVOH, polyamide, paper, aluminum, cellulosic, and PVC. This raw material is converted into films that are further converted into pouch, sachet, and bags in which the products are packaged.
Food dominated the flexible packaging market and pharmaceutical segment promises a healthy and fast growth in the market. Asia-Pacific has the highest market share and is estimated to grow with a CAGR of 7.1% during the period under review.
Europe is growing with a CAGR of 3.9%, and is driven mainly by the East European markets. The CAGR for ROW is 6.0% from 2013 to 2018. The four most potential nations for flexible packaging market are India, China, Russia, and Brazil which are poised to exhibit the fastest growing trend.
MRC