Chemicals and Materials Flexible Plastic Packaging Market New | Page 2

"Plastic films segment of material is projected to grow at the highest rate during the
forecast period"
Raw materials such as plastic films, aluminum foil, paper, and bioplastic are used for
flexible packaging. Plastic films are further categorized into polyethylene, polypropylene,
PVC, BOPET, EVOH, polyamide, and polystyrene. They offer excellent visibility to the
product and provide secure and attractive packaging options. It is primarily used in the
packaging of food & beverage products as it protects them from oxidation and also
provides extended shelf life to the product.
"Asia-Pacific projected to be the largest share in the Flexible Plastic Packaging
Market in 2022"
On the basis of key regions, the Flexible Plastic Packaging Market is segmented into North
America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia-Pacific
region accounted for the largest share among all the regions in 2016 and is projected to
grow at the highest rate from 2017 to 2022, in terms of value. This is mainly due to the
increasing demand for flexible packaging in China and India, coupled with the growing food
& beverage industry in these countries. Owing to the increasing disposable incomes, the
urbanized population is shifting towards healthy and safe packaged foods. Therefore, rising
income and consumption level would also lead to the growth of the flexible packaging
market in this region.
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The major players include Amcor Limited (Australia), Bemis Company, Inc. (U.S.),
Constantia Flexibles Group GmbH (Austria), Sealed Air Corporation (U.S.), Huhtamäki Oyj
(Finland), Coveris Holdings S.A. (U.S.), Sonoco Products Company (U.S.), Berry Plastics
Group, Inc. (U.S.), Mondi Group (Austria), Reynolds Group Holdings (New Zealand), and
Reynolds Group Holdings (Netherlands). Companies have adopted strategies such as
acquisitions, expansions, and new product launches to cope with the increase in demand in
the emerging markets.
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