Dublin, July 30, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Flexible Packaging Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific flexible packaging market is expected to grow at a CAGR of 6.23%, reaching a market size of US$142.553 billion in 2029 from USUS$93.406 billion in 2022.
The Asia Pacific flexible packaging market is a dynamic and rapidly evolving sector within the region's packaging industry. Flexible packaging refers to a variety of materials such as plastic films, aluminium foils, and paper, which are designed to provide lightweight, durable, and cost-effective solutions for packaging a wide range of products.
This market has experienced substantial growth in recent years, driven by factors such as urbanization, changing consumer lifestyles, and the increasing demand for convenient and sustainable packaging options. Moreover, environmental sustainability is becoming a significant focus in the Asia Pacific flexible packaging market. With growing awareness about the environmental impact of packaging materials, both consumers and regulatory bodies are pushing for more eco-friendly solutions.
As a result, there is a noticeable shift towards the adoption of recyclable and biodegradable materials in flexible packaging. Manufacturers are investing in research and development to create sustainable alternatives that maintain the performance and functionality of traditional flexible packaging.
Rising disposable income and changing consumer preferences
The adjusted net national income per capita in the Asia Pacific region plays a crucial role in driving the demand for flexible packaging. As the economic prosperity of the region continues to grow, with nations such as China, India, and others experiencing sustained economic development, there is a simultaneous rise in the purchasing power of individuals.
This increase in disposable income often results in changing consumer lifestyles, preferences, and consumption patterns. With higher disposable incomes, consumers in the Asia Pacific region are increasingly inclined towards convenience-oriented products and packaged goods. This shift is particularly notable in the food and beverage sector, where busy lifestyles and changing dietary habits have led to a surge in demand for pre-packaged and ready-to-eat products. Flexible packaging, with its lightweight, portable, and easy-to-handle characteristics, aligns well with the preferences of consumers who seek convenient and on-the-go packaging solutions.
Furthermore, the adjusted net national income per capita also influences the types of products being introduced to the market. Premium and speciality products, which often come with higher profit margins, are becoming more prevalent as consumers are willing to spend on unique and high-quality items. Flexible packaging offers an attractive solution for premium products, providing an avenue for manufacturers to differentiate their offerings through innovative packaging designs and materials. In addition to consumer preferences, the economic development in the region has spurred the growth of various industries, including pharmaceuticals, personal care, and electronics.
These industries are increasingly adopting flexible packaging for their products due to its versatility and cost-effectiveness. The demand for flexible packaging in these sectors is further fueled by the need for protective and durable packaging that ensures the integrity of the products throughout the supply chain.
India is expected to grow at a high rate during the forecast period.
The Indian flexible packaging market is experiencing significant growth, primarily fueled by several key factors. One major driver is the increasing per capita income, accompanied by a shift in people's lifestyles and a growing awareness of health-conscious choices in both food consumption and packaging materials. Changes in lifestyle and work patterns in the country are leading to a rise in the consumption of ordered and packaged foods, including frozen items. Additionally, flexible packaging is aesthetically attractive, cost-effective, and sturdy; consumers prefer packaging that is convenient at the same time is not looking messy, which makes flexible packaging a perfect choice.
Furthermore, the flexible packaging market in India is expected to thrive due to the expanding e-commerce sector. The growth of online retail platforms has created a demand for efficient and innovative packaging solutions, driving the adoption of flexible packaging.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $93.41 Billion |
| Forecasted Market Value (USD) by 2029 | $142.55 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Asia Pacific |
Companies Featured
- Amcor plc
- Mondi Group
- Sonoco Products Company
- Wipak Group
- WestRock Company
- UFlex Limited
- Huhtamaki Oyj
- Southern Packaging Group Limited
- Takigawa Corporation
Key Topics Covered:
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. CXO Perspective
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. CXO Perspective
5. ASIA PACIFIC FLEXIBLE PACKAGING MARKET, BY TYPE
5.1. Introduction
5.2. Pouch
5.2.1. Market Trends and Opportunities
5.2.2. Growth Prospects
5.2.3. Geographic Lucrativeness
5.3. Bag
5.4. Film
5.5. Others
6. ASIA PACIFIC FLEXIBLE PACKAGING MARKET, BY MATERIAL
6.1. Introduction
6.2. Plastic
6.2.1. Market Trends and Opportunities
6.2.2. Growth Prospects
6.2.3. Geographic Lucrativeness
6.3. Paper
6.4. Aluminium
7. ASIA PACIFIC FLEXIBLE PACKAGING MARKET, BY END-USER
7.1. Introduction
7.2. Food and Beverages
7.3. Personal Care
7.4. Pharmaceutical
7.5. Others
8. ASIA PACIFIC FLEXIBLE PACKAGING MARKET, BY GEOGRAPHY
8.1. Introduction
8.2. Japan
8.3. China
8.4. India
8.5. Australia
8.6. South Korea
8.7. Indonesia
8.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/aznnac
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