According to IMARC Group’s latest report, titled “Flexible Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 the global flexible packaging market reached a value of US$ 119.3 Billion in 2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
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Flexible packaging is primarily manufactured by using easily reformed materials that could be molded into different shapes. It is usually made by combining numerous materials, such as high-quality paper, film, aluminum foil, etc. These materials can be shaped into pouches, bags, liners, overwraps, etc. Consequently, flexible packaging is extensively used across diverse sectors, food processing, consumer products, cosmetics, pharmaceuticals, etc.
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Market Trends
The increasing demand for processed food items due to the on-the-go consumption habits is further augmenting the adoption of flexible packaging in the food sector. Furthermore, the rising consumer awareness towards several benefits of flexible packaging pertaining to food safety, effective permeability, longer shelf life, convenience, etc., is also propelling the market growth. The market is further catalyzed by numerous technological advancements leading to emergence of innovative and advanced product variants. A significant growth in the pharmaceutical and nutraceutical sectors are also bolstering the demand for flexible packaging. In the coming years, the growing popularity of sustainable and recyclable packaging alternatives will continue to spur the growth of the global flexible packaging market.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of product type, raw material, printed technology, application and geography.
Breakup by Product Type
Breakup by Raw Material
Breakup by Printing Technology
Breakup by Application
Breakup by Geography:
Key highlights of the report:
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