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Flexible Packaging Market Analysis & Forecasts 2018-2023, With An Expected CAGR Of 4.66%
- Jun 15, 2018 -

The flexible packaging market was valued at US$106.796 billion in 2017 and is projected to expand at a CAGR of 4.66% over the forecast period to reach US$140.363 billion in 2023.

Flexible packaging is any package or any part of a package whose shape can be readily changed. The packaging may consist of paper, plastic film, foil or any combination of these. The largest market for flexible packaging is food. Other markets include consumer products, industrial applications, medical and pharmaceutical. Flexible packaging market anticipates a strong growth in future. According to the World Bank data, the world population has increased from 7.357 to 7.444 billion from 2015 to 2016. According to OECD data, the household disposable income has shown a significant increase. For instance, in European Union, the household income has shown an increase in annual growth rate from -0.26% in 2009 to 2.12% in 2016.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the flexible packaging value chain.