Flexible Packaging Market to Witness Massive Revamp as Key Industry Player Sonoco Products Company Comes up with a flexible packaging solution EnviroFlex PE recyclable polyethylene

 


 

Flexible packaging is any packaging whose shape can be readily changed. Some of the most common examples of flexible packaging are pouches, shrink films, tubes, bags, sleeves, and carded packaging. Bioplastics is one of the key materials used by manufacturers for flexible packaging. Flexible packaging has the advantage of offering more options in terms of design and layout. In fact, it can actually create a wider selection of solutions, such as a roll-off carton, a bin bag, a padded container, and much more. Flexible packaging allows for customization of all sizes and shapes, including containers with various sizes, colors, and shapes.

Increasing demand from end-use industries and increasing e-commerce sales are expected to drive growth of the global flexible packaging market during the forecast period. The demand for flexible packaging from end-use industries such as pharmaceutical, healthcare, personal care, and food & beverage has increased massively. Flexible packaging is often used in the food & beverage industry for low-cost products such as bread, chips, biscuits, milk, and frozen food. On the contrary, the pharmaceutical sector also uses flexible packaging for drugs and medicines. Furthermore, e-commerce sales have increased significantly over the years, in both developed and emerging economies. According to the India Brand Equity Foundation (IBEF), the Indian e-commerce sector is expected to reach US$ 99 billion by 2024, increasing from US$ 30 billion in 2019. Hence, such factors are expected to drive growth of the global flexible packaging market during the forecast period. Furthermore, the cost-effectiveness of flexible packaging is expected to boost the global flexible packaging market growth over the forecast period.

However, stringent regulations on material use and inadequate infrastructure facilities for recycling are expected to hinder the global flexible packaging market growth over the forecast period. Besides, the emergence of sustainable and new flexible plastics packaging solutions can present lucrative growth opportunities in the global flexible packaging market. Moreover, Asia Pacific holds the dominant position in the global flexible packaging market, typically owing to rapid growth of the food & beverage sector in emerging economies such as India and China. Furthermore, Europe is expected to register robust growth in the market over the forecast period, owing to increasing R&D expenditure on the pharmaceutical industry in the region.

Key players involved in the global flexible packaging market are Ampac Holdings, Sonoco Products Company, Amcor Limited, ExxonMobil, Constantia Flexibles Group GmbH, Conoco Products Company, Coveris Holdings S.A., Cellpack Packaging, and Flair Flexible Packaging Solution.

For instance, in September 2019, Sonoco Products Company introduced EnviroFlex PE recyclable polyethylene flexible packaging.

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