30 May 2022
Visiongain has published a new report entitled the Flexible (Converted) Plastic Packaging Market Report 2022-2032: Forecasts by End-use (Food Packaging Film, Non-food Packaging Film, Secondary Packaging Film, Non-packaging Film, Other), by Food Packaging (Meat, Poultry, & Seafood Packaging, Baked Goods Packaging, Snack Food Packaging, Produce Packaging, Dairy Product Packaging, Candy & Confection Packaging, Frozen Food Packaging, Grain Mill Product Packaging, Beverage Packaging, Other), by Resin Type (Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Polypropylene (PP), High Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global flexible (converted) plastic packaging market was valued at US$146,136 million in 2021 and is projected to grow at a CAGR of 4.7% during the forecast period 2022-2032.
Safety Considerations Posed by Materials and Chemicals Used in Food Packaging
The health concerns posed by materials and chemicals used in food packaging must be properly monitored. Considerations for food packaging should include hazard analysis and important control points, verification and validation methods, good manufacturing practises, the use of an effective quality management system, track and trace systems, and label content requirements.
Food contact materials (FCMs) are a vast and complicated category that includes a wide range of materials and products, as well as a wide range of chemical substances such as additives. The purpose of packaging is to keep foods' integrity, quality, freshness, and safety intact during transportation, shelf life, and storage after they leave the manufacturing plant.
There are several possible combinations with the vast array of plastic packaging materials available today. The most basic structures may just have one or two layers. The most sophisticated constructions, which include all of the components such as primers, inks, and tie layers, can easily reach eight layers.
How Has COVID-19 Had a Significant Negative Impact on the Flexible (Converted) Plastic Packaging Market?
The pandemic had a significant influence on the food and beverage industries. In the near term, the pandemic had a negative impact on meat packing, resulting in some consumer shortages. Fast-food restaurants, on the other hand, witnessed a surge in demand. Soda makers were impacted by aluminium shortages as a result of recycling plant closures and flavouring shortages. When arenas and athletic venues closed, demand for food packaging decreased in the food services industry. Company cafeterias were shuttered as huge offices and industrial operations closed.
During and after the lockdown, a large number of people switched to online food shopping, a trend that will undoubtedly continue. Online grocery sales are expected to account for 12.4 percent of all e-commerce sales in the United States by 2021. According to another research, the number of digital grocery purchasers in the United States would increase from 131.6 million in 2020 to 137.9 million in 2021. That's an increase of 4.8 percent over the previous year.
IMPACT seen personally the rise in demand for fast food and consumer beverages in terms of packaging. The dies used to cut nearly 80% of all fast-food containers, as well as almost all beer and soda cartons, are manufactured by the folding carton division. In only one week, one of our clients shipped out 60 truckloads of medium-sized chicken nugget boxes.
How this Report Will Benefit you?
Visiongain’s 660+ page report provides 341 tables and 323 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global flexible (converted) plastic packaging market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Flexible (Converted) Plastic Packaging. Get the financial analysis of the overall market and different segments including resin type, end-use, food packaging, and capture higher market share. We believe that high opportunity remains in this fast-growing flexible (converted) plastic packaging market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What Are the Current Market Drivers?
Consumer Demand is Increasing for Smart Packaging
The technology for retail packaging is rapidly evolving. Demand for packaging that signals and maintains product quality across the supply chain is a primary driver of this rise. Two methods for incorporating smart packaging into current formats are smart labelling and augmented reality. These labels not only serve to prevent theft, but they also aid to track down things as they move through the distribution network. Smart labels can also monitor temperature and quality, informing the brand or the customer when a product is tampered with. The desire of consumers to stockpile, as well as their panic purchases of food, beverages, and home-care supplies, has increased demand in the packaging business.
Enhanced Flexible Packaging Films that Prioritize Durability and Resistance to Tearing, Food Safety and Freshness
Convenience is a primary motivator in produce packaging. Consumers are increasingly demanding packaging with convenience features such as zippers, resalable bags, and temperature indicators. Flexible polyethylene films are increasingly being used in food and beverage packaging because they have unique barrier qualities that aid in enhanced protection and shelf life. Manufacturers are progressively investing in the development of advanced flexible packaging films that prioritise tearing resistance, food safety and freshness, safe distribution and storage, and environmental protection against light, moisture, temperature, and gas. Flexible packaging films extend the shelf life of perishable commodities while also masking the odours of the contents. Using flexible packaging films to eliminate the cost of labelling or capping is projected to propel the market forward throughout the forecast period.
Where Are the Market Opportunities?
Technological Breakthroughs in New Materials for High-Barrier Protection
Technological advances in metals, glass, paperboard, composites, laminations, and, most notably, plastics are opening up a plethora of new possibilities for enhanced food packaging. Transporting products in a safe and efficient manner is the name of the game for ecommerce businesses. Flexible packaging is supported by high-barrier film, which serves as a protective oxygen and moisture barrier system, keeping harmful materials separate from the contents inside. All the while, food goods' distinct flavours and fresh fragrances are preserved. Furthermore, when dealing with sharp products that could be punctured or damaged during the shipping and handling process, high-barrier flexible packaging solutions give an added layer of protection.
The Ecommerce Business is Rapidly Expanding
With the progress of technology, the world economies have seen a surge in e-commerce. Packaging films have traditionally been sold through the brick-and-mortar model, but resource-optimized modern converters are eager to have options like e-buying to manage better with the skeletal staff that they may profitably employ. More and more firms are embracing online channels to contact consumers as the ecommerce market grows and becomes the norm in retail. To get an edge in a competitive business, brands must frequently rethink their marketing tactics from the top down – and there's no doubting the necessity of good product packaging in an internet context. Aside from offering a choice of material alternatives for items, ecommerce businesses may benefit from flexible packaging in a number of ways.
The major players operating in the flexible (converted) plastic packaging market are Uflex Corporation, Polyplex Corporation Limited, Jindal Poly Films Limited, SRF Limited, Ester Industries Limited, Mitsubishi Polyester Film Group, SKC Co Ltd, DuPont Teijin Films, Jiangsu Shuangxing Color Plastic New Materials Co. Ltd., Zhejiang CIFU Group Co., Ltd, Cosmo Films Limited, Toray Industries, Inc., Oben Holding Group, Taghleef Industries, Poligal SA, Vitopel, Altopro SA de CV, Inteplast Group, Cheever Speciality Paper & Film, Copol International Ltd.
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Notes for Editors
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