Global Converted Flexible Packaging Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Converted Flexible Packaging Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global converted flexible packaging market report has been segmented on the basis of type, material, application, and region.

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Global Converted Flexible Packaging Market: Overview

Converted flexible packaging is a type of packing which includes a combination of various raw materials such as plastics, paper & paperboard, polyesters, adhesives, for producing new packaging products including bags and pouches. Converted flexible packaging has diversified application among various industries such as food & beverages, personal care, pharmaceuticals, consumer goods, etc.

Global Converted Flexible Packaging Market: Dynamics

Increasing consumption of processed and convenient food among working professionals across the globe is one of the major factor driving growth of the global market. Increasing utilization of premium packaged personal care products among the young generation is a factor expected to propel the target market growth. In addition, environmental advantages offered by converted flexible packaging such as low consumption of raw materials, reduced emission of carbon, etc. is another factor anticipated to fuel growth of the global market over the forecast period.

The key trend observed in the global market is leading manufacturers are adopting various strategies such as mergers and acquisitions in order to expand their business in developing countries and create a strong position in the global market. For instance, Amcor Ltd declared an expansion of its flexible packaging division in Northern China region by acquiring the China-based packaging company — Hebei Qite Packing Co. Ltd.

However, the escalating cost of raw materials is one of the major factor projected to hamper the global market growth over the forecast period.

Global Converted Flexible Packaging Market: Segmental Analysis

Among the type segments, the pouch segment is projected to account for significant shares of the global market, in terms of revenue. This is attributed to better visibility and convenience offered by pouches.

Among the material segments, the plastic film segment is projected to register substantial growth over the forecast period, which can be attributed to various properties of plastic materials such as durability, strong resistance to chemical, and lower in cost.

Among the application segments, the food & beverages segment is anticipated to contribute to significant revenue shares in the global market. This is owing to the high adoption of converted flexible packaging among the food & beverages industry.

Global Converted Flexible Packaging Market: Regional Analysis

Asia Pacific is expected to account for significant revenue shares of the converted flexible packaging market, which can be attributed to the rapid growth of the food and beverages industry. In addition, high consumption of pre-packaged food among working population coupled with increasing disposable income are some other factors expected to support revenue growth of the target market in the region. Furthermore, the rapidly growing packaging industry is another factor expected to propel growth of the target market.

North America converted flexible packaging market is expected to register substantial growth over the forecast period. This is owing to the high demand for processed and ready-to-eat food products and ready-to-drink beverages among working population coupled with a busy schedule of work. In addition, the strong existence of converted flexible packaging manufacturing companies in this region is a factor expected to support revenue growth of the target market.

Global Converted Flexible Packaging Market Segmentation:

Segmentation by Type:

Pouches
Bags

Segmentation by Material:

Paper
Plastic Film
Aluminum Foil

Segmentation by Application:

Food & Beverages
Pharmaceuticals
Consumer Goods
Personal Care Products