Flexible packaging has been the mainstay of the packaging industry for many years now especially in the food packaging section. Technical advancements have also dramatically changed how packaging is viewed. It is estimated the global consumption of plastic packaging will grow at an annual rate of 3.5% over the next 5 years reaching $ 231 billion by 2018. Bottle-shaped stand-up pouch is in high demand.
Asia is the largest regional market with 29.1% of global market volume in 2011. It is also the fastest-growing market for consumer flexible packaging with a forecasted CAGR for 2011-16 of 7.9%. During the period of 2011-16, the region is forecasted to represent 55% of the total global packaging consumption trade. India and China are the fastest-growing destinations for consumer flexible packaging accounting for 44.0% of world flexible packaging consumption growth during the forecast period.
The flexible packaging market has also witnessed a growth in the pharmaceutical sector where it is growing with a CAGR of 7.1% by 2018. With growing concern and awareness about public health, the pharma industry is exhibiting strong gains in the form of an increase in product processing units, convenience packaging, and the rising consumption of generic drugs.
As retail chains demand greater product (particularly food) protection the use of barrier flexible packaging will continue to grow.
Plastics are touted to grow more. Some of the major growth areas will be:
- Stand up pouches
- Contoured containers
- High barrier plastic bottles
- Shrink sleeves
- Brand security
- Eco-friendly packaging
Features like longer product shelf life, weight reduction, and customer convenience are areas for packaging manufacturers to grow and in. Therefore, aluminium foil pouch manufacturers are in high demand. Paras Package is one of the most renowned aluminum foil pouch manufacturers. Call and connect with them today for your packaging needs.
