Flexible packaging market still expanding

TRANSPARENCY Market Research has announced the publication of its report, "Flexible Packaging Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019." This study projects that by value, the global demand for flexible packaging in 2012 was pegged at $73.56 billion. By 2019, market will be valued at US$99.10 billion, registering a 4.4% CAGR from 2013 through 2019.

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.

It also states that the Asia Pacific region will present the highest scope for growth through 2020.

The report analyzes the flexible packaging market from the standpoint of processors, manufacturers, raw material vendors and end-users such as pharmaceutical companies, food and beverage manufacturers and personal care product brands.

Flexible packaging materials that the report studies are polyethylene, polypropylene, paper, aluminum, polyamide, PVC and others.

The convenience offered by plastics in packaging is unparalleled, making it the dominant segment in the market (70% market share as of 2012). But 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.