Global Flex Pack Industry to Reach $231B by 2018
SHAWBURY, ENGLAND—October 17, 2013—The global flexible packaging market will grow at a rate of 3.5 percent PA until the year 2018, according to a major new study by Smithers Pira. This impressive rate of expansion is higher than the gross domestic product (GDP), suggesting the flexible packaging market is growing more quickly than well-developed and traditional rigid packaging markets.
The brand new study from Smithers Pira, The Future of Global Flexible Packaging to 2018, contains exclusive data categorized by both type and region. The report also explores the key drivers behind these exciting changes occurring in the marketplace.
The world consumer flexible packaging market has picked up significantly since the global economic downturn of 2008-9. The market tonnage in this segment is estimated at 24.3 million tons in 2013 and is forecast to grow at a CAGR of 4.1 percent during the period 2013-18, to reach a total of 29.8 million tons.
According to Smithers Pira, the Asia-Pacific region in particular has registered both volume and value growth for flexible packaging during the 2012-13 period. Asia-Pacific is the largest regional market with 38 percent of global market volume, and is also predicted to be the fastest growing market for consumer flexible packaging over the forecast period. Meanwhile, the United States is the largest national market for this type of packaging, with a volume share of nearly 14 percent in 2013.
The study explores several reasons for this high forecasted growth rate. These include technical developments, cost per package, sustainability initiatives and the continued increase of the consumer class in Asia-pacific, America and Eastern Europe. The replacement of traditional pack types with flexible packaging has also acted as a major driver for this expansion.
In addition, the industry has benefited from a range of new products being developed by brand owners in an increasingly competitive consumer marketplace. According to Smithers Pira, barrier flexible packaging will continue to grow in importance as consumer packaged goods companies (CPGs) and major retail chains demand greater product protection and longer shelf life.
The flexible packaging sector has traditionally had an extremely diverse and fragmented structure, consisting of a few large global operations and many small to medium-sized national and regional companies. Technical advances have allowed flexible packaging to become the format choice for a wide variety of consumer products. Flexible packaging has, as a result, become substantially more sophisticated with high-end graphics, high oxygen and moisture barriers, and new functionality.
The Future of Global Flexible Packaging to 2018 is available to purchase online and receive immediately for £3950.
About Smithers Pira
Smithers Pira is a worldwide authority on packaging, paper and print industry supply chains. Established in 1930, the company provides strategic and technical consulting, testing, intelligence and events to help clients gain market insights, identify opportunities, evaluate product performance and manage compliance.
Source: Smithers Pira.
