Table of Content:
- Flexible packaging production
- Flexible packaging vs Traditional packaging
- Flexible Packaging Trends
- Flexible packaging growth
- Top Companies in Flexible Packaging Industry
Packaging, over the years, has been an imperative part of a product’s development bringing together its description, protection and even the overall quality. Flexible packaging combines quality aluminum, plastic, bioplastic and paper, unlike traditional materials such as glass and metal, to deliver convenience and portability.
Global flexible packaging production is segmented into the following product and material categories:
- Stand up pouches
- Retort pouches
- Vacuum pouches
- Laminated tubes
- Squeezable bottles
- Gusseted bags
- Wicketed bags
- Converted roll stocks
Why flexible packaging industry is better than traditional material practices
Flexible packaging technology uses lesser resources and still manages to provide fine quality. With its efficient production process, considerable lower levels of water and electricity consumption, greenhouse gas emissions are observed.
Light weight packaging reduces the overall pollution levels and the fossil fuel consumption. Other features such as diversity, storage and durability increases customer convenience.
The factor of sustainability also strengthens the scope of this market. With an increasing number of customers getting sensitive towards the environment, brand owners have started resorting to ecofriendly ways of packaging. This includes using lesser material while maintaining product quality.
Flexible films also helps avoid degeneration and increase the perishability of the products.
Future Prospects of the flexible packaging Industry
Making an entry as a highly potential segment in the industry, flexible packaging’s growth is elaborative. Change in consumer dynamics and increase in user based industries have led to its spurt.
The market is forecasted to grow during 2017-2022 at an annual rate of 4.1% to 33.5 million tonnes. Its current rate of consumption is 27.4 million. It is likely to grow at an annual rate of 4.3%, reaching $283 billion by 2022.
Flexible Packaging Trends
With the escalations in global consumption patterns, the advances in flexible substrates are exponential. Supported by technological developments and new retail opportunities, this industry provides a certain level of product differentiation.
Some of the trends framing the industry are as follows:
- Dynamic packaging
Offering an economical, durable and sustainable method of packaging, flexible substrates are time, cost and energy efficient.
Flexible packaging provides better convenience and quicker disposability to the customers.
- Down gauge
The rigid-to-flexible conversion benefits all aspects related to a product from its development to end user consumption. This method of packaging uses lesser resource utilization that reduces environmental straining.
- High Performance
With the increase in demand for modified atmosphere packaging (MAP) and extended shelf life, the demand for high performance flexible substrates have risen.
Growth analysis of the flexible packaging industry
Flexible packaging industry is expected to expand. According to analysts at Technavio, the flexible packaging market for food and beverages will grow at a CAGR of 6% by 2022.
The Asia Pacific region accounts for the largest regional market, with 39.7% of the total volume of the global share in 2014. The driving factors are increased demand for packaged goods in developing countries such as India and China.
Growth prospects in India
India is expected to see an increase in flexible packaging consumption due to its cost efficiency and rise in the demand for packaged beverages, food, pharmaceuticals, and personal care products. The industry is studying the rural and urban buying patterns and implementing strategies accordingly. Escalated global consumption patterns, rise is packaged food demand and e-commerce sales are driving the growth of the market in India.
However, higher inflation rates and inadequate supply chain are major obstacles for the industry in this region.
Top companies trading in flexible packaging industry
Some of the prominent providers that are leveraging the opportunity in flexible packaging production include:
- Uflex Ltd
Uflex Ltd is one of the trusted and most reputable flexible packaging company located in India which has created many milestones in providing innovative products in the packaging industry.
An Australian establishment, Amcor Limited provides both rigid and flexible packaging solutions catering to food, beauty, and pharmaceuticals, personal and home products. It focuses on key factors of innovativeness, sustainability and attractivess.
Bemis is recognized for introducing Form-Tite, a type of forming flexible films that are manageable on various thermoforming equipment. The film helps in improving packaging stability with better seal strength and proves to be cost effective and better output yielding.
4. Sealed Air Corporation
Overcoming challenges in the packaging industry and providing customers with a better e-commerce experience, Sealed Air has managed to position itself for growth and quality excellence.
Providing a wide range of supply and packaging which is biodegradable, environment-friendly, Clondalkin grabs one of the leading positions in metalizing, lacquering, printing, finishing and laminating.
Mondi is an international packaging and paper group diversified into more than 30 countries. It integrates packaging and paper value chain to effective packaging solutions.
Flexible substrates will experience tremendous growth in the world market. With the production and preservation benefit it provides, the scope of low-density flexible packaging is wide-reaching.