Global Flexible Plastic Packaging Market Size, By Type (Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others), By Printing Technology (Flexography, Digital Printing and Others), By Application (Food Beverages, Pharmaceuticals, Personal Care and Others) and Region - Forecast 2017-2023
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Flexible packaging is one of the fastest growing segments of the packaging industry, and it integrates the best qualities of plastic, film, paper and aluminum foil to offer an extensive range of protective properties. It essentially takes the shape of a bag, pouch, liner, or overwrap, or any part of a package whose shape can readily be changed. Such packaging is used for consumer products and in industrial applications, to protect, market, and distribute a variety of products.
The major player operating in the market of global flexible plastic packaging are Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).
The global Flexible Plastic Packaging Market has been segmented on the basis of type, printing technology and application. Based on type, the Flexible Plastic Packaging Market Size, has been segmented into stand-up pouches, flat pouches, gusseted, bags and others. The stand-up pouches segment is anticipated to account for the largest market share during the forecast period due to growing consumption of dairy products, cosmetics, food beverages and personal care products that are usually packed using flexible plastic packaging.
Plastic packaging market expansion will continue to profit from the drive to replace traditional materials such as glass and metal, with lighter-weight, more cost-effective and higher performance plastic materials in various markets. Flexible plastic packaging is cheap, visually appealing and chemically inert. These features increase their demand in products that are used in packaging, and are made in a wide variety of innovative shapes, sizes and appearances. They include components, such as handles; and opening and reclosing features, such as zips and spouts. Such packaging helps in reducing the wastage of food due to the increased shelf life of the food product, according to Industry Council for Research and Packaging on the Environment (INCPEN). Advanced packaging for milk pouches, makes transportation easy and without any refrigeration.
In September 2018, Amcor has announced that it will invest more than $25 Mn to expand and upgrade an existing facility in Madison, Wisconsin.
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