The term green refers to sustainable packaging, which includes reusable, biodegradable, recyclable and energy-efficient materials.Flexible materials used for packaging are those materials whose shape can be readily changed in accordance to the packaging requirements.
These are non-rigid materials, available generally in the form of films, pouches, bags and cartons.Flexible green packaging is slowly gaining in the field of packaging.
Growing technological advancements in the field of material science has encouraged manufacturers to create flexible green packaging for the food and beverage industry as well as the medical industry among others. The major impetus driving the global flexible green packaging market is the fact that such packaging is recyclable, thus reducing waste and decreasing pollution.
Thereby, the growth of the food and beverage industry in growing economies such as China, India, Italy, Taiwan, Turkey and Mexico among others drives the growth of flexible green packaging market.Rising developments and innovations in these industries are fueling market growth; moreover, growth in the cosmetics industry worldwide is another driving factor that is triggering market growth.
The growing cosmetic industry in turn is boosting the flexible green packaging market as well.
The demand for flexible green packaging is projected to grow substantially owing to the rising demand for pharmaceutical industry and consumer goods industry; as well, in all these applications, flexible green packaging is used as sustainable packaging solutions. Increasing disposable income fueling the demand for consumer goods, coupled with the growing demand for the personal care industry is projected to augment the demand for the market during the forecast period.
In 2016, paper accounted for the largest demand share for flexible green packaging in terms of materials.Paper accounted for REDACTED of the demand in 2016 and is projected to expand at a CAGR of REDACTED during the forecast period.
Paper is also projected to be the fastest-growing segment during theforecast period.Paper packaging materials are economical, lightweight and easy to handle; hence, theyare preferred over other flexible green material.
In addition, corrugated paper and cardboard paperpackaging material also provide mechanical protection to the packaged material.Corrugated paper and cardboard are extensively used for secondary and tertiary packaging.
With the growth of the retailindustry, the demand for secondary and tertiary packaging are expected to increase substantially.
The packaged food industry is witnessing substantial growth during the past couple of years; hence, execution and competition is expected to increase.With the changing dynamics of the industry, major players are adopting new product launches and geographic expansion.
This is projected to fuel the demand for flexible green packaging for food industry applications.The food industry application accounted for the REDACTED of global demand for flexible green packaging market in 2017.
Consumer goods’ applications demand accounted for more than REDACTED in 2016 and is projected to be valued atmore than REDACTED by 2022, increasing at a CAGR of REDACTED during the forecast period.
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