Flexible Packaging Market Research Report and Forecast up to 2024 Flexible Packaging Market - Global Industry Analys

Flexible Packaging Market - Global Industry
Analysis, Size, Share, Growth, Trends and
Forecast 2016 - 2024
Global Flexible Packaging Market: Snapshot
Flexible packaging is gaining grounds in the field of primary packaging.
Advancements in material science have allowed manufacturers to create flexible
packaging the food and beverage industry better than before. This packaging can
maintain the primary function of protecting its contents while providing the
advantages of lower weight, better performance, and a much lower scope of
contamination. Flexible packaging is also easier to handle and store, making
transportation of goods a lot smoother.
Apart from food and beverages, flexible packaging is also used by other consumer
markets for the purpose of creating more appealing packaging. The intense
competition in the consumer goods industry has created a big scope for the
introduction of flexible packaging, which is what has happened over the past few
years. New pre-cooked, processed, and packed foods are now being introduced in
flexible packaging and giving way to trends such as modified atmosphere packaging
and vacuum packaging.
View Report @ http://www.transparencymarketresearch.com/global-
flexible-packaging-market.html
The problem with flexible packaging, however, is the fact that a large number of
flexible packaging are not easy to recycle. A lot of flexible packaging are multi-
layered with each layer composed of different materials. This makes recycling a
much tougher task than compared to rigid packaging.
The global market for flexible packaging is expected to expand at a CAGR of 5.2% in
terms of revenue, from 2016 to 2024. This revenue is expected to reach US$238.5
bn by the end of 2016 and US$358.7 bn by the end of 2024.
Europe to Remain Dominant in Flexible Packaging Demand
Europe is expected to stay a highly attractive market for the manufacturers of
flexible packaging over the coming years. By the end of 2024, Europe is expected to
generate a revenue of US$117.7 bn in flexible packaging. Although this increment in
demand is expected to stagnate soon, the overall requirement is already large
enough to be a very lucrative market for existing players. Similar scope is expected
to be seen in North America