MOSCOW (MRC) -- The flexible packaging market is estimated to grow from USD73,825.3 mln in 2012 to USD99,621.9 mln by 2018 with a CAGR of 5.1% from 2013 to 2018, as per Plastemart with reference to MarketsandMarkets.
Asia-Pacific led the global market followed by Europe and North America in terms of revenue in the year 2012. Flexible packaging market is a mature sector that has various stake holders such as raw material suppliers, processors, packaging manufacturers, and end-user industries such as manufacturers of food, beverage, personal care products, and pharmaceuticals.
Packaging is essential to preserve the quality of the product and it also prevents it from chemical reactions endangering the consumer’s health. Rise in the consumption of packaged products offers a strong customer base for the global flexible packaging market. Hence, an efficient and suitable packaging is imperative for every product.
The important materials used in flexible packaging market are polyethylene, polypropylene, BOPET, EVOH, polyamide, paper, aluminum, cellulosic, and PVC. This raw material is converted into films that are further converted into pouch, sachet, and bags in which the products are packaged.
Food dominated the flexible packaging market and pharmaceutical segment promises a healthy and fast growth in the market. Asia-Pacific has the highest market share and is estimated to grow with a CAGR of 7.1% during the period under review.
Europe is growing with a CAGR of 3.9%, and is driven mainly by the East European markets. ROW is also expected to experience growth in flexible packaging market in the future. The CAGR for ROW is 6.0% from 2013 to 2018. The four most potential nations for flexible packaging market are India, China, Russia, and Brazil which are poised to exhibit the fastest growing trend
In the flexible packaging market, pharmaceutical packaging is the fastest growing market with a CAGR of 7.1% during the forecast period. Following it, the food packaging is estimated to be the second fastest growing market in 2013, due to the rise in consumption of packaged food.
As MRC reported earlier, in October, 2013, BASF started up a tailor-madepolyamide coextrusion line for packaging and technical films at its Ludwigshafen site. With the collaboration of customers from the film industry, the line will be used to develop new applications for Ultramid polyamides. The line can produce cast and blown films with up to seven layers.
MRC