The market for flexible packaging paper is anticipated to expand at a CAGR of 4% from 2022 to 2032.Flexible packaging paper is primarily used to package a variety of foods, including sweets, snacks, coffee, sugar, and others. The market for flexible packaging paper has also benefited from increased concerns over the disposal of plastic trash.
“Paper film packaging has emerged as an environmentally beneficial substitute for plastic packaging and is here to stay” for goods produced by manufacturing businesses as well as home items.
In the recent years, flexible food packaging have seen significant rise in innovation due to technological advancement. One such type of flexible packaging is flexible packaging paper which has witness upsurge in the demand. Flexible packaging paper is mainly used for packaging of several food items such as confectioneries, snacks, coffee, sugar, etc. In addition, growing concern related to disposal of plastic waste has created growth opportunities for flexible packaging paper market. Furthermore, flexible packaging paper for other than food items can be used for several end uses, for example, personal care & cosmetics, pharmaceutical, consumer goods, etc.
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Examples of some of the key players operating in the global flexible packaging paper market are Sappi Limited, Smurfit Kappa Group plc, Mondi Group Plc, International Paper Company, DS Smith Packaging Limited, WestRock Company, Nippon Paper Industries Co., Ltd., Oji Holdings Corporation, Stora Enso Oyj, Georgia-Pacific LLC, Billerud Korsnäs AB, Packaging Corporation of America, Pratt Industries, Inc., Kap Stone Paper and Packaging Corp, etc.
The flexible packaging paper market is expected to grow considerably due to increasing adoption of ecofriendly packaging products by consumers. Flexible packaging paper is widely preferred due to its properties such as lightweight, cost-effectiveness and durability. Flexible packaging paper products requires smaller space on shelves as compared to rigid packaging products. In addition, flexible packaging paper also provides a wide range of presentation possibilities that help product manufacturers increase aesthetic appeal of the product and also enhance product branding. On the other hand, the plastic flexible packaging have better tensile strength as compared to flexible packaging paper, which is a factor expected to hamper the growth of the market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, companies operating in the Flexible Packaging Paper market have put their production on a halt. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace. Several market players are further planning to relocate their supply chain from China – the first epicenter of the COVID-19.
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The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Flexible Packaging Paper market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
The global flexible packaging paper market is segmented by material type, packaging type, distribution channel, and end-use industry. The pricing for flexible packaging paper has being done based on material type segment in US$ million, and the volume is considered in tonnes.
On the basis of material type, the global flexible packaging paper market is segmented into –
Coated Unbleached Kraft Paperboard (CUK)
Solid Bleached Sulfate (SBS)
Coated Recycled Paper (CRP)
Waxed Paper
On the basis of packaging type, the global flexible packaging paper market is segmented into –
Wraps
Cartons
Bags & Sacks
Envelops
Lids
Pouch
Sachet
Others
On the basis of distribution channel, the global flexible packaging papermarket is segmented into –
Retail
E-commerce
On the basis of end-use industry, the global flexible packaging papermarket is segmented into –
Food & Beverages Personal Care & Cosmetics Pharmaceutical Agriculture Electrical & Electronics Consumer Goods
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Important Questions Answered in the Flexible Packaging Paper Market Report
Which end user remains the top revenue contributor in different regional markets?
At what rate has the global Flexible Packaging Paper market been expanding during the forecast period?
How will the global Flexible Packaging Paper market look like by the end of the forecast period?
What innovative strategies are adopted by Flexible Packaging Paper market players to stay ahead of the pack?
Related Links –
https://www.thetechlog.com/?p=21039&preview=true
https://issuu.com/nk99/docs/lidding_foil_market_size
https://www.slideshare.net/niranjankarde/lidding-foil-market-sizepdf
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