MOSCOW (MRC) -- Flexible packaging market (by material - polypropylene, BOPP, CPP, polyethylene, EVOH, PA, BOPET, PVC, aluminum, paper, cellulosic) is estimated to grow from USD73,825.3 million in 2012 to USD99,621.9 million by 2018 with a CAGR of 5.1% from 2013 to 2018, reported Digital Journal with reference to a new market research report "Global Trends & Forecast to 2018" by MarketsandMarkets.
Asia-Pacific led the global market followed by Europe and North America in terms of revenue in the year 2012.
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. Due to the increased awareness for public health, increasing product processing units, convenience packaging, and rising consumption of generic drugs, the pharmaceutical packaging industry is exhibiting strong gains. 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. Growing health concerns and knowledge about the nutrition value is driving the market for packed products to preserve the end-products.
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