Global flexible plastic packaging market is estimated to grow at a CAGR of 6.1% during forecast period (2021-2029). Global flexible plastic packaging market is primarily driven by cost-effectiveness & increased shelf-life and rising demand from end-users. Packaging protects and preserves the product from damage, and at the same time act as a crucial marketing and communication tool for the business. According to the Flexible Packaging Association (FPA) (US), as compared to other types of packaging, flexible packaging can save cost up to 10 times thus, enables increased product yields by reducing content waste by 50-90%. Covid 19 led lock downs had significant adverse impact on the market due to interruption in production and logistics. The report covers the impact of the pandemic in-depth.
Browse the full report Global Flexible Packaging Market – Growth, Future Prospects and Competitive Analysis, 2021 – 2029 at https://www.acutemarketreports.com/report/flexible-packaging-market
Global flexible plastic packaging market has been segmented on the basis of type, printing technology and application. The application segment is further sub-segmented into food & beverages, cosmetics & toiletries, healthcare and others. Food & Beverages leads the application segment in terms of revenue in the global flexible plastic packaging market with around 58% market share in terms of revenue 2020. Adoption of flexible plastic packaging is rising in food and beverage industry owing to cost-effectiveness and other benefits offered by flexible plastics.
Geographically, the global flexible plastic packaging market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). Asia Pacific leads the global flexible plastic packaging market by capturing largest market share in terms of revenue of around 40% in 2020. Countries of Asia accounted for approximately 50% of the world plastic production in 2019.
Merger and acquisition is the primary strategy adopted by companies in global flexible plastic packaging market. The companies increase their dominance and market share by acquiring other companies to increase their product portfolio. The top companies include Amcor limited, Printpack Inc., Mondi Group, Bemis company Inc, Sealed Air Corporation and others.
The Global Flexible Packaging Market is Segmented into:
|By Type (2019-2029; US$ Mn)|
|By Printing technology (2019-2029; US$ Mn)|
|Segmentation||By Applications (2019-2029; US$ Mn)|
|By Region (2019-2029; US$ Mn)|
|Global Impact of Covid-19 Segment (2020-2021; US$ Mn )|
*Complete segmentation list is on report page
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