By value, the global demand for flexible packaging in 2012 was pegged at US$73.56 billion. By 2019, market will be valued at US $99.10 billion, registering a 4.4% CAGR from 2013 through 2019, as per Transparency Market Research. The report also estimates the market in terms of value, stating that the demand will go from 18,666.0 kilo tons in 2012 to 24,728.7 kilo tons in 2019, charting a CAGR of 4.1% through 2019.
The convenience offered by plastics in packaging is unparalleled, making it the dominant segment in the market (70% market share as of 2012). However, the market is beginning to turn in favor of cellulose-based flexible packaging over the next five years, as environmental consciousness heightens. Nanotechnology could potentially create path-breaking developments in the global flexible packaging market as intensive R&D activities are being reported in this domain. Flexible packaging for the pharmaceuticals market will be an area to watch out for as new tamper-proof packaging mandates have opened up opportunities here. The report also states that the Asia Pacific region will present the highest scope for growth through 2020.
Source: Plastic News