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(IT-NEWSWIRE.COM, May 01, 2024 ) The report "Flexible Plastic Packaging Market by Packaging Type (Pouches, bags, roll stock, films & wraps), Printing Technology (Flexography, Rotogravure, Digital Printing), End-user Industry, Material (Plastics, aluminum Foils,) and Region - Global Forecast to 2030" The market for flexible plastic packaging is approximated to be USD 182.4 billion in 2022, and it is projected to reach USD 264.9 billion by 2030, at a CAGR of 4.8%.
Browse in-depth TOC on "Flexible Plastic Packaging Market”
263 - Market Data Tables
55 - Figures
300 - Pages
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The flexible plastic packaging market is segmented on the basis of material into plastic, aluminum foil, and others. The flexible plastic film segment has been further classified into polypropylene, polyethylene, polyvinyl chloride (PVC), ethylene vinyl alcohol (EVOH), biaxially-oriented polyethylene terephthalate (BoPET), polyamide, polystyrene, and Bioplastics. Plastic material offers a wide variety of protective benefits while ensuring a minimum amount of material possible. They are used for marketing, protecting, and distributing a wide range of items for both industrial and consumer uses. Flexible paper packaging has widely been used by manufacturers as it provides users with convenient storage and functional packaging that is appealing and easy to carry. Additionally, they are manufactured in all shapes and sizes using recycled materials, which makes them environmentally friendly. Aluminum foils are commonly used in flexible plastic packaging due to their exceptional barrier properties, which offer protection against oxygen, light, moisture, and other environmental factors that can impact the quality and shelf life of the packaged product. Aluminum foils are commonly used in the food and beverage industry for products such as coffee, tea, and dairy products.
The flexible plastic packaging market can be segmented based on different printing technologies, including Flexography, Rotogravure, Digital Printing, and Others. Flexographic printing is a high-pressure relief printing process that can be used on various packaging materials such as paper, plastic, and foil. This process utilizes different types of ink, and it is a direct printing method on a rotary web. On the other hand, Rotogravure printing is a process used to print directly on plastic films, papers, and aluminum foils. This printing method offers several benefits such as consistent ink transfer, high speed, quality image, low costs per unit, and long-lasting printing cylinders. Digital printing, on the other hand, starts with a digital file, which is transferred through an electric discharge in a digital printing press. The files used in digital printing can be modified using software, and this printing technology makes use of laser and ink-jet printing. Digital files such as PDFs and graphics software such as Illustrator are used to send images directly to the printer. It is essential for businesses operating in the flexible plastic packaging market to be familiar with these different printing technologies to make informed decisions. Choosing the right printing technology can have significant implications for the quality, speed, and cost-effectiveness of packaging production. Thus, it is essential to assess the benefits and limitations of each printing technology and determine which one will best meet the needs of the business and its customers.
The flexible plastic packaging market is divided into different end-use applications, which include pharmaceutical and healthcare, food, beverages, personal care and cosmetics, and others. Flexible plastic packaging is used in various industries to package a wide range of products. In the food industry, flexible plastic packaging is commonly used to pack items like snacks, biscuits, namkeens, chocolates, and other food products. The beverage industry also makes use of flexible plastic packaging to pack a variety of products such as juices, tea, coffee, ketchup, milk, soft drinks, fruit drinks, and more. The pharmaceutical and healthcare industry uses flexible plastic packaging products in the form of pouches, lids, and other flexible plastic packaging materials. These packaging products are commonly used to package medical products, drugs, and other healthcare-related items. The personal care and cosmetic industry also make use of flexible plastic packaging to pack items like soaps, detergents, toothpaste, perfumes, facial tissues, wipes, napkins, and other personal care and cosmetic products.
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The flexible plastic packaging market is studied in six regions, namely, Asia Pacific, Europe, North America, the Middle East &Africa, and South America. Asia Pacific is the fastest-growing market and the largest consumer of flexible plastic packaging globally. The growth in this region is led by growing developmental activities, economic expansion, and a growing population. This region presents a large customer base for fast-moving consumer goods (FMCG) products, and food & beverages, which is expected to further boost the flexible plastic packaging market. In Europe, the food industry is the primary consumer of flexible plastic packaging, followed by personal care & cosmetics, and healthcare. Meanwhile, the North American region is experiencing growth due to technological advancements in the packaging industry. Increasing sales of consumer durables, high disposable incomes, and rising demand for packaged foods are expected to drive the demand for flexible plastic packaging in this region.
Flexible Plastic Packaging Market Key Players
The demand for flexible plastic packaging is mainly furnished by global players manufacturing for various end-use industries. Some of the leading companies involved in the manufacturing of flexible plastic packaging are Huhtamaki Oyj (Finland), Berry Global Group Inc. (US), and Amcor Limited. (Australia), Mondi Group. (UK), and Sonoco Products Company (US). These companies, along with other regional companies, cater to the demand for flexible plastic packaging products globally.
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