Growing Demand for Efficiency, and Responsive Packaging to Drive Growth
The rise of e-commerce has been a major boon the for packaging industry. It is estimated that e-commerce channels like Amazon witnessed as much as 58% growth in sales, thanks to consumer shift towards e-commerce during the covid-19 pandemic. The growth has necessitated high-demand for efficient, and safe packaging solutions. Hence, the demand for flexible packaging solutions with multi-layered, sachet, and stick packs remains robust.
The packaging provides an interrupted filling line production, with improved efficiency, reduced downtimes, and reliable packaging. Moreover, the packaging also reduces waste, thanks to multi-layered technology, which is ideal for reuse. This is likely to remain an important growth factor, as demand for natural, recyclable materials to highlight growth of natural, and healthy food products soars. The growth of e-commerce, change in demographics such as rising nuclear household among urban landscape, and improved efficiency due to technological advancements like 3D printing will drive growth for the flexible packaging market.
Cost-effective Products, and Increased Preservation to Drive Demand
The recycling also remains a key factor in cost-savings, as organizations like Resources Defense Council estimates that over 40% food products are wasted in countries like the US. Flexible packaging solutions increase shelf life of products, resulting in more value for consumers, and retailers. Moreover, the innovative solutions like banana-based flexible packaging also promises new advancements in increased shelf life. The rise in shelf-life will lead to major reductions in logistic cost for both retailers, and suppliers in the long run.
The growing changes in demographics have resulted in increased demand for both convenience, and diet food products. This has led to tremendous growth for e-commerce, as convenient access to smartphones, and rising availability of ready-to-eat foods, and expanding access to technology continues to drive demand for flexible food packaging. Flexible packaging promises immense cost-savings in manufacturing as manufacturing remains in a dynamic, and vibrant mode, thanks to major shifts in consumer demands. Moreover, the process leads to significant cost-savings in terms of raw-material usage, which are under strain, as demand for packaging grows globally. The availability of small-packaged goods also leads to less room occupied on shelves at super retail chains, which further provides impetus for growth as supply chain reduce future uncertainties in demand with advanced technological estimation.
The regulatory authorities in the US, and Europe are increasingly emphasizing on the lowered usage of plastics in manufacturing, and packaging. However, it is estimated that the demand for plastic-based flexible packaging solutions will remain high, as growth in e-commerce, convenience, and ease of using plastic products will continue to drive growth. Moreover, the introduction of branded products on e-commerce, and ease of 3D printing on plastics remains a major draw for growth for the flexible packaging market during the forecast period. The regulatory authorities will pose a challenge to growth as use of single-use plastics still remains banned. However, growing emphasis on recycling will likely offset the regulatory challenges to promise robust growth.
Some key players in the flexible packaging market are Mondi; Bemis Company, Inc; Amcor Limited; Huhtamaki Group; and BASF SE.
The Flexible Packaging Market will be segmented as follows:
Others (include Labels, stick packs and sachets)
Others (include coating, ink, coating, and adhesive)
Others (include screen, offset, and letterpress printing)
InsightSLICE adopts a research methodology which is highly meticulous and comprehensive, yielding accurate research results. Our research methodology utilizes data triangulation model which helps in the precise collection and validation of information. Our set processes for problem solving and paid primary tools guarantee that any client requirement is met with utmost diligence and accuracy. Some of the primary components that are consequential to our research approach are:
Secondary Research or Desk Research
Distinctive Data Model
Secondary Sources include but are not limited to:
Past Published Research
Historical Data and Information
Primary Sources include but are not limited to:
InsightSLICE also leverages three types of data triangulation approaches as follows:
Data Source Triangulation
Extracting data and validation from multiple type of secondary and primary sources
Combining various methodologies to validate data inputs
Applying different theories to check credibility of data sets
The growth of e-commerce, change in demographics such as rising nuclear household among urban landscape, and improved efficiency due to technological advancements like 3D printing will drive growth for the flexible packaging market.