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.