The flexible packaging market had more than 19,893.0 kilo tons in 2014 and is expected to grow significantly over the forecast period due to the rising need because of growing population in Asia Pacific, especially in China and India. There are number of advantages like light weight, easily disposable, less need of raw material, various types of containers which are anticipated to boost the market demand in the future.
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Nevertheless, instability of price of raw material including plastic is anticipated to be threatening for the market growth. Strict rules and regulations regarding pharmaceutical & food products contact is anticipated to confront the manufacturers form producing in the future. It is anticipated to be replaced by rigid material for packing due to the qualities like insulation of heat and sealing, retention of aroma, and protection from moisture in the future.
The market is divided into applications, raw material, and regions. Application wise food & beverage had the most shares of around 80% volume globally in 2014. It is expected to augment the market demand due to increasing requirement for food packaging which is meant for ready-to-eat meals, snack foods, cake mixes, and frozen meals in the future.
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The second biggest application is pharmaceutical sector having value more than $ 16,000 million in 2014. Increasing lifestyle diseases like high blood pressure, obesity, and diabetes amongst working class is anticipated to boost the market by boosting the demand of pharmaceutical products over the forecast period. Even the cosmetic sector is anticipated to boost the market.
Plastic as a raw material had huge market value with more than $ 160,000.0 million in 2014, basically used in food and beverage sector. One of the major raw material was paper and is anticipated a raise CAGR more than 3% volume wise from 2015 to 2022.
Asia Pacific had a more than 35% volume share in 2014 globally and is expected to rise in future due to fast industrialization including food & beverage and cosmetic units especially in China and India. Europe followed the market value with over $ 54,7000 million in 2014. Increasing health care awareness is anticipated to raise the flexible packaging market in coming time.
The key players are Amcor, Coveris, Bemis, Mondi, Sealed Air, Constantia Flexibles, Bischof & Klein, and Fujimori Kogyo. The global market is highly split due to presence of many players.
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