Visiongain has published a new report entitled the Flexible Film Packaging 2021-2031. It includes profiles of Flexible Film Packaging and Forecasts Market Segment by (Value (USD Million), Volume (Kilo Ton)) Market Segment by End-Use (Food Packaging Film, Nonfood Packaging Film, Secondary Packaging Film, Nonpackaging Film) Market Segment 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 Food Packaging) Market Segment 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 Resins) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global flexible film packaging market was valued at US$114 billion in 2020 and is projected to grow at a CAGR of 4.4% during the forecast period 2021-2031.
Increasing R&D Investments for Sustainable Packaging Solutions
The demand for a sustainable packaging solution has increased in recent years due to the rise of many businesses and factories. As a result of these needs, packaging solution manufacturers have developed new packaging machinery that may assist enterprises in easily packing their products. These demands are a primary driver of the worldwide sustainable packaging market's expansion. The following are some of the primary segments of the sustainable packaging market:
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How has COVID-19 had a significant negative impact on the Flexible Film Packaging Market?
The COVID-19 epidemic has caused significant upheaval in the packaging industry, as it has in many other industries. As the coronavirus pandemic spreads and its humanitarian impact grows, sectors that help meet basic necessities, such as providing food and supplies to consumers securely, are being increasingly impacted. With food packaging being the greatest sector of activity in the packaging business, the $900 billion per year global industry is on the front lines. The coronavirus epidemic has already resulted in some of the greatest drops in demand for certain types of packaging in recent history, while driving growth for others — such as packaging for e-commerce shipments that are emerging as lifelines in this new world. Such changes are presenting many packaging companies with a new set of challenges.
The foodservice industry has also had to evaluate the use of reusable or refillable goods that may pose transmission hazards. Even before the shutdown, several coffee shops, for example, had returned to using throwaway cups. Customers' and retailers' preferences may also shift toward more pre-packaged commodities, such as fruits and vegetables, rather than buying them loose. Such solutions may reduce restocking time, increase time through the till, and be perceived as safer by customers.
The current situation is exceptional in that no earlier peacetime recession has resulted in a physical shutdown of the high street. While store closures will lessen the need for throwaway in-store packaging in the short term, demand may shift to alternative uses in the long term. Disposable takeaway packaging, for example, is now in more demand as consumer habits move toward meal delivery. Individual local restaurant and food businesses are now creating their own delivery or food takeaway services, adjusting their business models to fit the new customer need, in addition to booming business for the new food delivery giants. All of this necessitates packing to guarantee that the food supplied is safe, warm, and appealing.
Packaging firms, like all others, will have to adjust to deal with the global epidemic, and the supply chain will surely be disrupted. This is causing packaging businesses to hunt for backup plans and to better understand their supply chains and weaknesses. This might exacerbate existing tendencies in the US, such as "China Plus One," as corporations strive to lessen their reliance on any single nation. It could also imply a preference for domestic suppliers.
How this Report Will Benefit you?
Visiongain’s 748+ page report provides 441 tables and 443 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global flexible film 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 Film Packaging. Get the financial analysis of the overall market and different segments including food packaging, non-food packaging, resin type, end-use and capture higher market share. We believe that high opportunity remains in this fast-growing flexible film 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?
Cost-Effectiveness And Increased Product Shelf-Life
As a result of busy lifestyles, demand for convenient items has increased, leading in an increase in demand for flexible packaging. Flexible plastic packaging requires fewer resources and energy to manufacture; as a result, flexible packs are less expensive and take up 35 percent less retail shelf space than other types of packaging, making them more cost-effective. Robbie Fantastic Flexibles, a member of the Flexible Packaging Association, claims that creating 780,000 flexible pouches uses 87 percent less coal, 74 percent less natural gas, and 64 percent less crude oil than rigid clamshell containers. Furthermore, there has been a gradual shift in consumer choice away from traditional home cooking methods and toward the purchase of packaged items. Flexible plastic packaging uses less natural resources, produces less energy, and emits fewer greenhouse gases during production.
Laws & Regulations Enforced by Governments
For the sake of the environment, flora, and fauna, governments in numerous nations have enacted strict rules to reduce the impact of trash and its damaging by-products. To limit solid waste accumulation in landfills, they have also enacted tough legislation for the handling of consumer and industrial plastic garbage. Non-compliance with norms and acts is punishable by regulatory organisations in the United States and Europe. The European Commission's Garbage Framework Directive has set a goal of collecting 50% of residential waste by 2020. Between 2020 and 2030, recycling and reuse of plastic packaging trash should account for 60% of total plastic packaging waste created, according to this directive. PlasticsEurope, a major pan-European organisation, has set a goal of zero landfills by 2040. The Waste (England and Wales) (Amendment) Regulations 2012 govern the separate collection of waste, requiring waste collection authorities to separate waste paper, metal, plastic, and glass.
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Where are the market opportunities?
Sustainable And New Flexible Plastic Packaging Solutions
Sustainability is merging with other significant trends1 to drive major changes in consumer packaging, particularly regulatory and public concerns about single-use packaging waste. Regulators are taking action, and fast-moving consumer goods (FMCG) businesses and retailers are proactively making strong commitments to improve package sustainability and radically rethink their packaging systems. There will be a huge influence on packaging converters and their value chain, perhaps jeopardising the industry's viability. The new landscape, on the other hand, might offer considerable growth and new collaboration prospects for packaging converters with the necessary focus and innovation capabilities to assist customers in updating their packaging portfolios. As customer demands and regulatory restrictions grow, converters will need to be proactive in addressing environmental challenges.
Rising Demand for Plastic Waste Management from Emerging Economies
Because of its unique features and vast range of applications, the plastic market is rapidly expanding. Plastic garbage, which is non-biodegradable and responsible for considerable greenhouse gas emissions, is growing in popularity, posing a serious threat to the environment. The United States is one of the world's leading producers of plastic garbage. In comparison to the country's overall plastic trash creation, the country's plastic recycling rate is quite low. The majority of plastic garbage produced in the United States is sent to nations such as China, Hong Kong, Ecuador, Colombia, Indonesia, Vietnam, and Thailand, where it is recycled, processed for energy, or disposed of in landfills.
Competitive Landscape
The major players operating in the flexible film packaging market are Uflex Corporation, Polyplex Corporation, Jindal Poly Film, SRF Limited, Ester Industries, Mitsubishi Polyester Films, SKC Co. Ltd., Dupont Teijin Films, Jiangsu Shuangxing Color Plastic New Materials Co. Ltd., Zhejiang Cifu Group Co. Ltd., Cosmo Films Ltd., 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.
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Find more Visiongain research reports on Packaging sector click on the following links:
- Metalized Flexible Packaging Market
- Fresh Food Packaging Market
- Flexible (Converted) Plastic Packaging Market
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