The growth of the flexible packaging market because of the increased adoption of aluminum foils, plastic films, and pouches in the pharmaceutical industry is enhancing market growth. In recent years, the U.S. pharmaceutical packaging market has been found to be the most important revenue contributor. Also, North America is expected to have about 40-45% of the market and contribute to approximately 45% of the global market growth. Furthermore, it has been further noticed that the food and beverages segment dominated the market and accounted for the largest revenue share in 2021.
Data Bridge Market Research shows that the Global Flexible Packaging Paper Market was valued at USD 190.63 billion in 2021 and is expected to reach USD 272.55 billion by 2029, registering a CAGR of 4.57% during the forecast period of 2022 to 2029.
" Increasing Sedentary Lifestyle Surge the Market Growth"
The high market penetration of ready-to-eat meals in the country due to a busy lifestyle and increased number of working-class professionals is further anticipated to lead to the growth of flexible packaging during the forecast period. Flexible packaging is commonly used for food products, such as snacks, dairy, smoothies, and others. Further, the packaged food market has been witnessing huge growth worldwide because of innovations in food processing techniques and changes in consumer lifestyles, which are anticipated to boost product demand during the forecast period. Thus, this factor boosts market growth.
What restraints the growth of the Global Flexible Packaging Paper Market?
" Recycling and Biodegradable Nature of Paper"
The paper frequently winds up in landfills, where its rate of deterioration slows down, and it takes up more space than the equivalent weight of plastic. Furthermore, paper-based flexible packaging is frequently laminated with materials such as it is coated with plastic or aluminum resin, making paper-based flexible packaging non-recyclable. Furthermore, multi-layer packaging with several combinations of layers hinders the market's growth rate. All these major factors impede the growth of the market.
Segmentation: Global Flexible Packaging Paper Market
The global flexible packaging paper market is segmented on paper, products, printing technology, embellishing, and end-user.
- On the basis of paper type, the flexible packaging paper market is segmented into kraft paper, parchment paper, greaseproof paper, sulfite paper, glassine paper.
- On the basis of product type, the flexible packaging paper market is segmented into bags and sacks, pouches, envelopes, wraps, sachets.
- On the basis of printing technology, the flexible packaging paper market is segmented into rotogravure, flexography, digital printing.
- On the basis of embellishing type, the flexible packaging paper market is segmented into hot coil, cold coil
- On the basis of end user, the flexible packaging paper market is segmented into food, pharmaceuticals, consumer goods, agriculture, personal care and cosmetics, and others
Regional Insights: Asia-Pacific is expected to dominate the Global Flexible Packaging Paper Market
Asia-Pacific dominates the market due to increasingly organized retail and e-commerce sectors and the easy availability of raw materials. Furthermore, increasing spending power in India, China, and Indonesia is anticipated to enhance the demand for packaged food products, boosting the market growth.
North America is expected to grow in 2022-2029 due to the increasing consumption of packaged beverages and the preference for small-sized packs because of their affordability and convenience. As per Flexible Packaging Association, more than 46% of Americans are willing to pay more for flexible packaging that stores food and beverages due to its sustainability profile.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-flexible-packaging-paper-market
The Prominent Key Players Operating in the Global Flexible Packaging Paper Market Include:
- Amcor plc (Switzerland)
- Sonoco Products Company (U.S.)
- Sealed Air (U.S.)
- Huhtamaki OYJ (Finland)
- Sappi (South Africa)
- DS Smith (U.K.)
- Coveris (U.K.)
- Sabert (U.S.)
- KRPA Holding (U.S.)
- Nordic Paper (Sweden)
- McNairn Packaging (U.S.)
- PG Paper Company (U.K.)
- Pudumjee Paper (India)
- NIPPON PAPER INDUSTRIES CO., LTD.(Japan)
- BillerudKorsnäs (Sweden)
- Emami Paper Mills Ltd (India)
- Rengo Co., Ltd (Japan)
- WestRock Company (U.S.)
- JK Paper (India)
Above are the key players covered in the report, to know about more and exhaustive list of global flexible packaging paper market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Flexible Packaging Paper Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
