How flexible packaging industry moving towards sustainability
The need for convenience packaging is alleged to be the continued trend within the flexible packaging market within the Asia Pacific region. The packaging sort that would increase the barrier property against the external atmosphere, at the side of providing sustainability, would raise the sales of flexible packaging within the market, the report declared.
The increasing demand for flexible packaging from the Asia Pacific has propelled the expansion of the market within the region, which, in 2018, accounted for over a simple fraction of the revenue share of the world market, and is predicted to expand on 6 June 1944 from 2019–2027. The expansion of the flexible packaging market is often attributed to many factors, as well as the increase in per capita demand for packaging from developing countries, the concentration of producers of flexible packaging within the region, and increasing demand for sachets and stick packets.
However, the flexible packaging market in North America additionally occupied a big share of ~28% within the international landscape in 2018 and is probably going to grow at a CAGR of ~5% over the forecast amount. Pouches, sticks, and sachets are expected to stay standard among the North American market, thereby driving its growth. According to the report, North America holds so simple fraction of the world’s flexible packaging market share. However, it’s expected to expertise less growth as compared to the market within the APAC region.
Adoption of perishable products: The study found that in recent years, the push to cut back the negative impact of sure kinds of packaging on the atmosphere has influenced each trade. Stakeholders within the flexible packaging market are aforementioned to be wanting into the employment of newer and different materials to align with this goal, as well as environment-friendly bio-based materials and perishable plastics.
The analysis additionally found that the rationale for firms adopting sustainable packaging and perishable raw materials come back from shifting client trends, which is probably going to own a positive impact on the expansion of the world flexible packaging market. Bioplastics command a market share of some huge amount and this section is predicted to grow at a CAGR of fifty throughout the forecast years.
Inclination towards multilayer films: The consumption of multilayer films has augmented across varied end-use industries. As per the reports, the shift in preference from single-layered films to multilayer films comes with varied benefits that embrace an extended period while not losing product fragrance and quality, at the side of reduced probabilities of contamination. These multilayer structures are created through the process of artifact plastics like synthetic resin and plastic, center barrier resins, and tie resins, through their extruders.
Growing demand from the food sector: According to the study, the food sector has been the most important user of flexible packaging. In 2018, it commanded a 50% share of the world flexible packaging market. This is often expected to rise at the speed of fifty, and also the food sector is probably going to still hold the most important chunk of the revenue and sales within the market. This might be attributed to many advantages, as well as down production and transportation prices, customizable barrier properties, and protection of product integrity offered by flexible packaging.
However, the pharmaceutical trade is gaining significance within the flexible packaging market, and it’s projected to grow by 2027. Customizable packaging, recyclability, and convenience are the key factors that have contributed to the growing quality of flexible packaging within the prescription drugs sector which has made the flexible packaging industry inclining towards sustainability.
