Increase in demand from healthcare, cosmetics & toiletries, food & beverages, household products, sporting goods and other agricultural products industries will drive global flexible packaging market growth. Shift in trends towards convenient packaging due to lightweight characteristic and ease of use may propel market growth.
Manufacturers are moving towards flexible packaging as it creates less waste due to lower utilization of crude materials, requires less storage room along with easy transport. Global packaging spending was over USD 400 billion in 2015, flexible packaging accounted for over 20% of the industry revenue share in the same year. Barrier against moisture, appropriate sealing and heat insulation are key properties fueling industry growth.
Technological advancement, improving barrier properties, developing thin elastic material along with innovations in high-speed filling equipment will drive flexible packaging market growth. Easy transportation and storage along with sustainable properties fueled the product demand. Export trading industry expansion are key factors enhancing the overall industry growth.
E-commerce industry expansion particularly in China, India and Vietnam will trigger the industry growth as e-commerce emphasizes on packaging to improve the customer experience. In India above 40% of the total plastic produced are involved in packing industry. Alibaba an e-commerce company has shipped around 12 million parcels per day in 2015.
Stringent government regulations regarding polymer and recyclability of packaging material may hinder the flexible packaging market growth. Increasing aluminium and polymer prices due to political unrest may impact the flexible packaging market price trend.