Global flexible packaging to hit $99.10 billion

Demand from the food & beverage and healthcare industries is fuelling growth in the flexible packaging market, which in 2012 was valued at $73.56 billion. On that year, demand in terms of volume amounted to 18,666.0 kilo tonnes. A recent report released by Transparency Market Research forecasts the market to hit $99.10 billion in 2019, and grow at a CAGR of 4.4% from 2013 to 2019. Demand is likely to reach 24,728.7 kilo tonnes in 2019, with a CAGR of 4.1% from 2013 to 2019.

Key factors encouraging growth in flexible packaging are consumer requirements for lightweight and durable materials. At the same time, heightened awareness on nature conservation will drive demand for biodegradable packaging. Whilst plastics accounted for 70% of flexible packaging in 2012, this may be impacted by the shift in preference to bio-based packaging materials such as those made from cellulose, also a durable and eco-friendlier option.

In 2012, the highest demand came from the Asia Pacific, also the fastest growing market for flexible packaging.

For more data, access Flexible Packaging (Plastic, Paper, Aluminum Foil and Others) Market for Food & Beverages, Retail Non-Food, Pharmaceutical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.