Dallas, TX -- (SBWIRE) -- 10/23/2014 -- The global flexible packaging market is projected to grow at a CAGR of 5.1% from 2013 to 2018. Polyethylene dominated this global market by material accounting nearly 32% of the total market share and is projected to grow at a CAGR of 5.1% during the forecast period. Polypropylene accounted for the second largest share in the segment growing at a CAGR of 4.9% during the period under review. Polypropylene comprises of Biaxially oriented polypropylene (BOPP) and Cast polypropylene (CPP). Of these two, the Biaxially oriented polypropylene segment holds a significant share of around 80%, growing at a CAGR of 5.2% from 2013 to 2018. Paper and Aluminum are growing at a CAGR of 5.5% and 5.4% respectively. Cellulosic is one of the materials which show potential growth in the future. It is projected to grow at a CAGR of 8.2% through to 2018.

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The flexible packaging market is considered to be one of the most dynamic packaging markets exhibiting diversified types of packaging and materials used across the regions. This report estimates the market size of this global market in terms of revenue and volume. Food, beverage, personal care products, and pharmaceutical industries are the most important constituents of consumer packaged goods. Food packaging dominates the market share in terms of value as well as volume. In terms of geography, the report is segmented into Asia-Pacific, Europe, North America, and Rest of the World (ROW). This global packaging market is broadly divided on the basis of raw materials used such as polypropylene, polyethylene, EVOH, PA, BOPET, PVC, cellulosic, aluminum, and paper. With a huge market potential and growing consumer preference, the market is likely to witness substantial growth in the coming years.

The flexible packaging market consists of various stake holders such as packaging manufacturers, traders, distributors, and raw material suppliers of food, beverage, personal care products, pharmaceuticals, and end-users. The companies enjoying substantial market share are Amcor Ltd. (Australia), Sealed Air Corporation (U.S.), Bemis Company Inc. (U.S.), Mondi (South Africa), Huhtamäki Oyj (Finland), and Sonoco Products (U.S.). Key industry players are increasing their business and consolidating their presence by pursuing mergers and acquisitions in potential markets. Top six players in this global packaging industry held a market share of around 58.0% indicating participation of a large number of players in this market. This fragmented industry structure is primarily due to the availability of number of pack types and raw materials used for flexible packaging.

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In the current packaging environment, flexible packaging is an important packaging solution for a saturated industry. It plays a vital role in protecting and extending the shelf life of end-products. A variety of resins may be used for conversion and developing the required packaging solutions. Depending on the characteristics of the end-product and value to be offered by packaging, the selection of resins and packaging type is decided. The right packaging type is essential to preserve the end-products such as food, beverage, personal care products, and pharmaceuticals and prevent untoward chemical reactions endangering the consumer’s health. Hence, an efficient and suitable packaging solution is imperative for every product.

The North American market is expected to show a modest growth trend, owing mainly to the saturated end-use markets in the region. The European market, which has also witnessed signs of maturity, is given a small boost by the East European nations. Environmental awareness among consumers has meant that there is a swing in market shares among the packaging materials.

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Changing consumer preferences and high disposable incomes in APAC economies drives the end-use market The APAC region is leading in the flexible packaging market shares. The developing economies such as China and India are driving the growth in this region. Consumer preferences in convenience foods, westernized eating habits in terms of packaged food demands, and rising disposable incomes are some of the important factors influencing the trend. In the same way, the growing food and beverage processing industry in Brazil and other Latin American countries drives the growth in ROW. The Olympic Games 2016 scheduled in Brazil will also act as a significant boost to the tourism industry, and in turn the consumption of packaged food in the region.

Most of the countries in the Asia-Pacific are emerging economies that exhibit a strong economic growth in the future. With the growth in per capita income, consumers have adopted trends and preferences from the developed western markets. The growing population and the consequential demand for packaged food, beverage, personal care products, and pharmaceuticals are driving the markets in these developing regions. China and India are heading these growth trends. The thriving food & beverage, personal care products, and pharmaceutical processing industries and the increasing consumer awareness regarding benefits of these products and their packaging types are the key fundamentals driving the markets in these regions.

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