The surge in consumerism is a key factor fuelling the growth of the packaging industry. Reports that investigate the packaging and transport industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects.
The regional evaluation of the Flexible Plastic Packaging Market Size is carried out on the basis of Asia Pacific, Europe, North America and the rest of the world. As per the analysis, the Asia Pacific governs the flexible packaging market with the principal market segment. It covers nations such as India, China, and Japan, which spearhead the export of goods to many areas of the world. Besides, the upsurge in consumer income has directed to development in demand for good-quality packaged food. Similarly, the increase in population in several countries has steered to an upsurge in food & beverage intake, which eventually enhances the demand for flexible packaging products. The growing exports from these nations are directing to the development of the flexible packaging market. The thriving e-commerce market in the region is also adding to the development of the flexible packaging market. The e-commerce market is inspired by the growing internet penetration evident in the region.
The monetary inflows in the market are being directed towards increasing the innovations in the core product offering offered in the market so that the growth doesn’t stagnate in the forthcoming period. The reduction in the barrier to trade is expected to offer new areas for growth in the upcoming years. Also, the competition being observed in the market is not detrimental to the individual player’s development in the market. The market has developed an incremental pace in the past few years, which is highlighted by the achievements in terms of valuation.
Aug 2019 BOBST is combining forces with Dow, Brückner Maschinenbau, Hosokawa Alpine and Elba who are pioneering companies in the industry to offer advanced solutions in high barrier flexible packaging by utilizing a new group of polymers to attain mono-material packaging intended for recyclability.