Converted Flexible Packaging Market
Research Report By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Converted Flexible Packaging Market Research Report - Forecast to 2023
Global Converted Flexible Packaging Market Information: By Material (Plastic, Paper, and Aluminum Foil),
Product (Pouches, Bags, and Others), Application (Food & Beverages, Pharmaceuticals, Consumer Goods
and Others), and Region - Forecast till 2023
Converted flexible is a packaging type, which includes combining raw materials such as polyesters, adhesives, plastics, paper
& paperboard, to produce new packaging products, such as pouches and bags. It is broadly used across end users such as
pharmaceuticals, food & beverages, consumer goods, and personal care.
According to the MRFR analysis, the converted flexible packaging is increasing at a rapid pace and is expected to gain
significantly over the forecast period. The global converted flexible packaging market is estimated to grow at a CAGR of
5.31% during the estimated period (2017-2023).
The converted flexible packaging market is driven by various factors such as increased consumption of processed and
packaged foods & beverages. Environmental advantages of converted flexible packaging are also fuelling the growth of the
market. This packaging includes low raw material consumption, low carbon emission, and relatively low waste produced as
compared to other conventional packaging formats. It also reduces energy usage. For e.g., for producing a pouch for food
service requires 75% less energy and generates just 1 /10 of CO2 emissions during production than a metal can for the
equivalent amount of product.
The global converted flexible packaging market is expected to reach a market size of USD 104,999.8 million by the end of
the forecast period at a CAGR of 5.31%.
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Converted Flexible Packaging Market Research Report - Forecast to 2023
Market Segmentation
For the purpose of the study, the market has been segmented based on material, product and application. On the basis of
the material, the market is segmented into plastic, paper, and aluminum foil. Plastic accounted for the largest market share
of 45.76% in 2016, with a market value of USD 33,670.3 million. Plastic in the form of PVC, PE, PP, and others are used
broadly in plastic converted flexible packaging segment. These material provide high barriers, cost-efficiency, temperature
resistance and durable packaging options. These factors are pouring the demand for the plastic material.
On the basis of the product, the market is segmented into pouches, bags, and others. Pouches accounted for the largest
market share of 39.62% in 2016, with a market value of USD 29,152.4 million. Pouches are available in different types,
which include stand up pouches, retort pouches, and pillow pouches. Stand up pouches are widely used for packaging of
snacks, baked goods, and pourable materials such as beverages, soaps, and baby food.
Based on the application, the market is segmented into food & beverages, pharmaceuticals, consumer goods and others.
Food & Beverages accounted for the largest market share of 39.10% in 2016, with a market value of USD 28,769.8 million.
High demand for ready-to-eat and on-the-go foods and drinks continues to grow. Increase in disposable income and rise in
population in countries such as China, India, and Brazil, has led to a growth in demand for good quality packaged food.
Moreover, this type of packaging is also used for packaging of dairy products, sauce, and others. Therefore, the food &
beverages application segment is projected to grow at a CAGR of 5.80% during the forecast period.
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Converted Flexible Packaging Market Research Report - Forecast to 2023
Segmentation
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Converted Flexible Packaging Market Research Report - Forecast to 2023
Regional Analysis
On the basis of the regions, the global converted flexible packaging market has been segmented into North America,
Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region accounted for the largest market share of 32.45% in
2016, with a market value of USD 23,876.7 million and is projected to grow at the highest CAGR of 5.62% during the
forecast period. The extraordinary growth in the packaging sector in Asia Pacific region is the main factor fueling the growth
of the market. Growing number of supermarkets in the region and the high demand for multipacks of various grocery
products are expected to boost the demand for converted flexible packaging products. China, Japan, India, and Thailand are
the key contributor to Asia Pacific market. China accounts for the largest market share in the region mainly due to fast
growth in the urbanization and industrial development.
North America is another major global converted flexible packaging market. Rapid growth in the retail industry of the North
American region is also the factor pouring the growth of the market. The major converted flexible packaging manufacturers
such as Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), and Bemis Company Inc. among others are present
in the North America region. This has the positive influence on the growth of the market. The U.S. accounted for the major
market share of the North American region.
The Middle East & Africa is main market in terms of demand for converted flexible packaging and is projected to grow at a
CAGR of 4.23% over the review period 2017-2023.
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Converted Flexible Packaging Market Research Report - Forecast to 2023
Key Players
The prominent players in the converted flexible packaging include Bemis Company Inc. (U.S.), Amcor Limited (Australia),
Sealed Air Corporation (U.S.), Sonoco Products Company (U.S.), Constantia Flexibles Group GmbH (Austria), Graphics
Packaging Holding Company (U.S.), Bischof + Klein SE & Co. KG (Germany), Honeywell International Incorporated (U.S.),
Ampac Packaging LLC (U.S.), and Oracle Packaging Inc. (U.S.).
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