Flexible Packaging Market Put Forth Analysis, and Forecasts 2022
Flexible Packaging Industry Overview The global flexible packaging market size was estimated at USD 221.81 billion in 2016, growing at a CAGR of 4.7 from 2017 to 2022. Growing food requirements on account of rising population in Asia Pacific particularly in India and China is expected to have a positive impact on the industry growth over the next seven years. Bioplastics was one of the key raw material used by flexible packaging manufacturers. Growing demand for bio-based PLA films in the food, bakery, confectionery, and snack packaging applications owing to easy recyclability and biodegradable nature is expected to be a key market driver over the next seven years. In the U.S., consumers are preferring packaging that is light and aesthetically appealing. This will increase the use of plastic-based flexible packaging over the forecast period. Technological developments such as plastic-based flexible pouches and sachets will open new avenues for the production in several applicat...