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.
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.
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.
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.
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.
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.
With the increase in demand for modified atmosphere packaging (MAP) and extended shelf life, the demand for high performance flexible substrates have risen.
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.
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.
Some of the prominent providers that are leveraging the opportunity in flexible packaging production include:
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.
2. Amcor
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.
3. Bemis
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.
5.Clondalkin
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.
6. Mondi
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.
7. Bankey Bihari Packaging Pvt Ltd
With over a decade long experience in the flexible packaging industry, Bankey Bihari has helped many companies achieve business success through packaging. Using ultra-modern technology and innovations, their packaging products range from BOPP Laminated WPP Bags, pouches, seal of quality to shopping bags the application of which is suitable for any industry (rice, seeds, cosmetics, paints, pulses etc).
“The future of Indian agriculture depends on how well we can collaborate and innovate,” States…
Alok Kumar Agarwal, the former Managing Director of Alankit, emphasizes that sustainable finance is the…
The popular sports league, which garners significant viewership from India and abroad, has initiated its…
The total number of registered voters is more than the combined population of all European…
Who paid whom, how much and WHY? These are the general questions that everyone asked…
Alok Kumar Agarwal states, “The Indian FinTech sector is not just growing; it is revolutionizing…
