Technavio Announces the Publication of its Research Report Global Flexible Packaging Market for Food and Beverages (F&B) 2016-2020
Technavio recognizes the following companies as the key players in the global flexible packaging market for food and beverages (F&B): Amcor, Ampac, Clondalkin, Constantia Flexibles, Innovia Films, Mondi, and Printpack.
Other Prominent Vendors in the market are: Bemis, Glenroy, Huhtamaki, Sealed Air, Sonoco, Westrock, and Wipack.
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Commenting on the report, an analyst from Technavios team said: Rising demand for packaged food will be a key trend for market growth. Changing lifestyles, improving economic conditions and the rise in disposable incomes are driving the demand for packaged foods in many countries. The rise in the demand for packaged food among consumers across developed and developing countries has propelled the demand for flexible packaging products. The demand for packaged food and processed food is increasing. This is attributable to the improvement of economic conditions in many developed countries and the rise in disposable incomes in developing countries, such as India, China, and Saudi Arabia.
According to the report, demand for stand-up pouches will be a key driver for market growth. Stand-up pouches are preferred by both vendors and consumers. From the vendor’s perspective, it is easy to manufacture as lesser quantities plastics are used. From the consumer’s perspective, they are easy to handle and carry and are available in various designs.
Further, the report states that high penetration of rigid packaging will be a major challenge for the market. By volume, rigid packaging accounts for a share of 52% in the global plastic packaging market; whereas, flexible packaging accounts for a share of 43%. The ability to retain its shape and high awareness among consumers provides a strong base for the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Flexible Packaging Products
Flexible packaging products are made of easy-yielding plastic and paper that can easily change shape to accommodate the product being packaged. Shelf life plays a crucial role in flexible packaging for F&B. Vendors are implementing barrier technologies to improve resistance to air and moisture.
Technavios analysts forecast the global flexible packaging market for food and beverages (F&B) to exceed USD 83 billion during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global flexible packaging market for food and beverages (F&B) for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the prominent vendors from all regions that are operating in the market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Flexible Packaging Market for Food and Beverages (F&B) 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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