Flexible packaging market is a mature industry which has numerous stake holders , which include raw material suppliers , processors , packaging manufacturers , and end-user industries like food , beverage , personal care products , and pharmaceuticals . The end-use industry and their wrapping and packaging are two interrelated industries . Any change in one of these industries will unswervingly affect the other market . Increase in the consumption of packaged products provides a strong potential for the manufacturers of flexible packaging market . Packaging is indispensable to preserve the quality of the product along with preventing it from chemical reactions jeopardizing the customer ’ s health . Hence , an impeccable and suitable packaging technique is imperative for every end use product , which is why there is a budding demand for flexible packaging market .
The global market for flexible packaging is estimated to be $ XX billion in 2015 . The global market for flexible packaging is estimated to grow at a CAGR of XX % and is forecast to reach $ XX billion by 2021 . The packaging market can be divided into by type , industry , packaging type and geography . Plastics are the majorly used materials for flexible packaging , while other materials being utilized include aluminum foil , paper , bio plastics and others . The key end users to which flexible packaging market cater its applications are food & beverage , personal care , pharmaceuticals , oil and lubricants . In the flexible packaging market , pharmaceutical packaging is the fastest growing market with a CAGR of XX % during the forecast period .