Asia-Pacific Flexible Packaging Market Outlook, 2027

Rapid industrialization and technological advancement have led to the establishment of food, beverage, pharmaceuticals, and personal care production in the Asia-Pacific region, which has rapidly boosted the flexible packaging market. The growing population and growing disposable income of the various consumers in the region have led to the growth of the flexible packaging market in the region. Flexible packaging has gained the highest market share from rigid packaging as flexible packaging is the most cost-effective and gives the various benefits to the customer. Flexible packaging is made from paper, plastic, film, aluminum foil, or any combination of those materials, and includes various types such as bags, pouches, liners, wraps, rollstock, and other flexible products. Flexible packaging is used for the packaging of electronics goods, cosmetic products, food products, and other consumer products. Flexible packaging combines the best qualities of plastics and other materials. The Asia-Pacific region shows the most prominent growth in the global flexible packaging market, and it is expected to continue to dominate the market share in the forecast period. There is also an increase in demand for domestic packaging in the Asia-Pacific region, which is the reason for the growth of the flexible packaging market in the region. Food packaging companies are also expanding their businesses to provide better packaging solutions to customers. The Asia-Pacific flexible packaging solutions market is segregated into five prominent countries, namely: China, Japan, India, Australia, and South Korea. China and India are the growing countries in the flexible packaging market in the Asia Pacific region.

According to the report title, “Asia-Pacific Flexible Packaging Market Outlook, 2027”, publish by Bonafide research, the market was value at around USD 115.38 Billion in 2021 and it is anticipated to grow with the CAGR of more than 5% from 2022 to 2027. The main factors for the growth of the flexible packaging market in the Asia-Pacific region are the increasing per capita income, growing health consciousness, and changing lifestyle patterns of the customers in the region. With the expansion of businesses in countries such as China and India, Asia-Pacific is the fastest growing region in the flexible packaging market.

According to the report, based on material type, the market is segmented into plastic, paper, aluminum foil, and other materials. The plastic packaging segment covers the highest share of the market in flexible packaging. Plastic packaging is estimated to cover more than 60% of the market share in the forecasted period in the Asia-Pacific region. Expansion in the food and beverage markets will increase the need for plastic packaging. Flexible packaging is so lightweight, durable, and comfortable for carrying the products. Because of these characteristics, the market demand for flexible packaging is witnessing high growth in the region. Based on the application, the market is segmented into food, beverage, pharmaceuticals, personal care, and others. The food industry has been witnessing immense growth in the flexible packaging market. Growth in demand for snacks and convenience, ready-to-eat foods, coffee, juices, etc. will lead to high demand for the flexible packaging market in the forecast period. Based on the packaging type, the market is segmented into bags, wraps, pouches, and others. Innovation in the packaging of food products will lead to a rise in demand for the pouch packaging segment in the region as it is also witnessing high growth in the forecast period.

COVID-19 Impact:
The spread of COVID-19 is an unprecedented health crisis across the globe that has impacted nearly every business. However, an increase in the demand for food packaging, medicines, and other essential things has led to the growth of the flexible packaging market. Governments are also trying to avoid the shortage of food products. The demand for flexible plastic packaging in the pharmaceutical industry is expected to remain robust due to the high demand for drugs, medicines, and vaccines.

Major Companies present in the market:
Amcor Plc, Berry Global Group Inc., Mondi Group, Sealed Air Corporation, Constantia Flexibles, Coveris Holding SA, Transcontinental Inc., HuhtamäkiOyj, Sonoco Products Company, Ahlstrom-MunksjöOyj, Greif, Inc., Westrock Company, AptarGroup, Inc., FlexPak Services LLC, Al Invest Bridlicnaa.s., Aran Group., Alubergs.p.a., Danaflex Group, Bischof + Klein SE & Co. KG, Glenroy, Inc., Clondalkin Group Holdings BV, ProAmpac Intermediate, Inc.

Considered in this report
• Geography: Asia Pacific
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Asia Pacific Flexible Packaging market with its value and forecast along with its segments
• Country-wise flexible packaging market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• China
• Japan
• India
• Australia
• South Korea

Types of Material in the report:
• Plastic
• Paper
• Aluminum Foil
• Others

By End-Use in the report:
• Food
• Beverages
• Pharmaceuticals
• Personal care
• Others

Types of Packaging in the report:
• Bags
• Wraps
• Pouches
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to flexible packaging industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Manmayi Raval

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