Global packaging market provides products suitable for the storage, distribution, sale and use of various products. Amongst the three basic types of packaging, which include heavy packaging, medium packaging and light or flexible packaging, the latter one is considered to have the most dynamic market in terms of business and expansion opportunities and increasing global demand. Global flexible packaging market is slowly and steadily recovering from the economic slowdown of 2008, which reflects in the latest market trends and forecasting reports prepared for various geographic segments of this industry by different expert researchers. According to these reports, the market is expected to maintain steady growth in near future, which is expected to create better business opportunities for the existing as well as new players.
Segmentation in Flexible Packaging Industry
Researchers use four parameters to segment the global flexible packaging market. These four parameters include the types of flexible materials, their applications, geographic regions and applications of these packaging materials across country level markets. Based on the types of materials, the industry is segmented into polypropylene, CPP, BOPP, EVOH, polyethylene, PA, PVC, BOPET, aluminum, cellulosic and paper. Applications of flexible materials for wrapping are spread across food, beverages, pharmaceutical and industries for personal care products. On the basis of geographic regions, the market is loosely segmented into four basic regions, which include Asia Pacific, North America, Europe and rest of the world. These four regions are further segmented into various country-level markets.
What to Expect from Market After 2013
When it comes to estimating market trends, business opportunities and forecasting trends for the industry, experts are hoping for positive prospects. Detailed analysis of the segmentation in the industry researchers claim the flexible packaging market to grow at a steady CAGR of over 5%. This trend is expected to stay put from 2013 to 2018. During the forecasting phase, the industry is expected to become worth $99,621.9 million by 2018. In 2012, the same market was worth $73,825.3 million. The global industry is anticipated to be dominated by materials like Polyethylene, which is estimated to account for more than 32% of the global market size. Polypropylene is the second largest material to dominate the industry in terms of demand, production and strength of revenue channels.
As of 2013, North America is expected to dominate the flexible packaging market in terms of geographic demand patterns. European market is in close competition with North America, thanks to increasing prospects in East European countries. Rising environmental awareness is the biggest restraint for the global industry.