Key Insights on the Global Flexible Plastic Packaging Market | Technavio

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LONDON–The latest market research report by Technavio on the global flexible plastic packaging market predicts a CAGR of more than 6% during the period 2017-2021.

The report segments the global flexible plastic packaging market into two segments based on end-user (food and beverage, healthcare, and others) and geography (EMEA, APAC, and the Americas). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global flexible plastic packaging market, according to Technavio transportation and logistics researchers:

  • Growing global plastic film market is a major market driver
  • The food and beverage industry was the dominating end-user segment of global flexible plastic packaging market in 2016, and accounted for approximately USD 54 billion of the total revenue.
  • EMEA dominated the global flexible plastic packaging market in 2016
  • Amcor, Bemis Company, Berry Global, and Huhtamaki are the major players in the market

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Market growth analysis

One of the key factors driving the global flexible plastic packaging market is the growing global plastic film market. The demand for flexible plastic films in food packaging is predicted to increase as they can be used as stretch films and shrink films in wrapping processed food items, meat, and vegetables. There are certain properties of plastic films, which improve the shelf life of food items. The plastic film also helps in reducing overall transportation and warehouse costs when compared to other types of packaging. One of the advantages of flexible plastic films that is driving the growth of the global flexible plastic packaging market is that the use of plastic film packaging helps end-users to reduce their purchasing costs.

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Geographical analysis

In 2016 the global flexible plastic packaging market was dominated by EMEA. The UK, Germany, and France are the top three countries contributing to the growth of the flexible plastic packaging market in the region. The major demand for flexible plastic packaging is from the medical disposable equipment industry and clinical laboratory industries. Medical disposable equipment includes catheters, gloves, bandages, syringes, first aid kits, plasters, and feeding bags that are usually packed using easily openable flexible plastic packaging. This is done to reduce the space in warehouses and transport trucks.

According to Sharan Raj, a lead analyst at Technavio for research on packaging, “There has been an increase in the manufacturing of disposable medical equipment in the European region and the market consists of many disposable medical equipment manufacturers. These aspects drive the disposable medical equipment market and are expected to provide opportunities for flexible plastic packaging manufacturers in Europe.”

Competitive vendor landscape

There are several regional and global players who are present in the global flexible plastic packaging market. The market is highly competitive, and the players compete in terms of product customization, product differentiation, and price differentiation. The established players are investing in high technology packaging machinery to improve their operational efficiency. Several regional vendors are opting for consolidations with established players to maintain profitability by adopting new technologies and business strategies of the established players. In developing countries, most consumer goods retail manufacturers prefer low-cost plastic packaging solutions when compared to sophisticated packaging that have higher costs.

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Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
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