shift from rigid packaging to converted flexible packaging is driving the Converted Flexible Packaging Market
Technavio analyzes that the Converted Flexible Packaging Market is expected to grow at a CAGR of 2.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 14 million.There are various factors that contribute to the growth of the market. The converted flexible packaging market is experiencing a significant shift from traditional rigid packaging solutions. This transition is driven by the numerous benefits offered by flexible packaging, including cost efficiency, lighter weight, and improved product protection. Converted flexible packaging provides brands with the ability to create customized, innovative solutions that cater to evolving consumer preferences. The versatility of this packaging format has led to its increasing adoption across various industries, including food, beverages, and pharmaceuticals. As a result, the market for converted flexible packaging is poised for robust growth in the coming years.
In the realm of packaged goods, flexible packaging, specifically pouches, have gained significant traction due to their numerous advantages. These pouches, predominantly made from polyethylene film, are widely utilized for various applications, including food, pharmaceuticals, and agriculture products. Their user-friendly design and sustainable attributes make them a preferred choice for consumers. Stand-up pouches, a type of flexible packaging, have garnered immense popularity due to their allure on retail shelves and convenience. These pouches offer an airtight closure, ensuring product freshness and prolonging shelf life. Their versatility extends to various product categories, including dry food, candies, confectioneries, and liquids. Stand-up pouches are available in a range of sizes and boast multiple barrier layers, offering robust protection against moisture, dirt, and bacteria. Their ease of use and resealability make them a preferred choice for consumers seeking convenience and product preservation. The pharmaceutical sector also benefits from these pouches due to their ability to maintain the integrity and efficacy of sensitive products. In summary, flexible packaging, particularly pouches, have become an indispensable component of various industries, offering advantages such as extended shelf life, user-friendly design, and sustainable attributes. Stand-up pouches, in particular, have gained significant traction due to their airtight closure, convenience, and versatility.
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Converted Flexible Packaging Market Segmentation
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The converted flexible packaging market is experiencing significant growth, driven by the demand for innovative solutions in various sectors such as food and beverage, health and beauty, and consumer goods. High-barrier packaging materials like polyesters, plastics, and adhesives are popular choices for single-use packaging in these industries. Sustainable packaging, including eco-friendly pouches and bags made of paperboard and aluminum foil, is also gaining traction. Auto-venting films and user-friendly designs cater to the needs of e-commerce and pharmaceutical sectors. Meat product consumption and shelf life are key considerations in the selection of packaging solutions, with high-barrier materials ensuring product freshness and longevity.
In the dynamic flexible packaging market, key industries such as food and beverage, health and beauty, and e-commerce sectors are driving demand for innovative solutions. Suppliers play a pivotal role in this value chain, providing raw materials for various packaging types. These include high-barrier packaging materials like aluminum foil, as well as single-use packaging solutions. The aluminum foil market, for instance, is served by aluminum producers, while glass, metal, and plastic container markets are supplied by raw material providers, including borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) manufacturers. The complex supply chain encompasses raw material procurement, research and development, large-scale manufacturing, and distribution through various channels to meet the diverse needs of end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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