Global Flexible Packaging Paper Market: Overview
The global flexible packaging paper market is estimated to be a multi-billion dollar market and is likely to observe consistent growth throughout the period of assessment, from 2019 to 2029. Such consistency in the growth of the said market can be ascribed to the extensive use of flexible packaging paper across the food packaging industry. A rise in the demand for smaller sizes of packs together with growing preference for convenience is estimated to support steady growth of the global flexible packaging paper market over the timeframe of assessment, from 2019 to 2029. In addition to that, both consumer goods and pharmaceutical industry in many of the developed regions have generated increased demand for flexible packaging paper, which is likely to augur well for the market.
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Paper type, product type, end use, and region are the four vital parameters that have been considered for the segmentation of the global flexible packaging paper market.
Global Flexible Packaging Paper Market: Notable Developments
One of such pertinent market developments that have left a positive and promising impact on the expansion of the market is elaborated below:
- In April 2019, Finnish food packaging specialist, Huhtamäki Oyj, made a launch of a completely new range of recyclable flexible packaging solutions called blueloop. These packaging solutions are made of paper, mono-material PE, and PP. This form of packaging helps in the packing of personal care products, dry food products, snack items, coffee, and many other fast-moving consumer products.
Some of the well-known players in the global flexible packaging paper market are listed below:
- Canadian Kraft Paper Ltd.
- Gulf Paper Manufacturing Company
- Nippon Paper Industries Co Ltd
- Smurfit Kappa Group PLC.
- Pudumjee Paper Products Ltd.
- Gordon Paper Company, Inc.
Global Flexible Packaging Paper Market: Key Trends
The below-mentioned market dynamics are projected outline the nature of the global flexible packaging paper market over the assessment period, from 2019 to 2029.
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Rising Demand for Eco-friendly Packaging Solutions to Boost Demand in the Market
Paper is widely regarded as an environment-friendly packaging substance, which makes packaging solutions using paper an eco-friendly option. In an era of increased awareness about pollution and environmental degradation, such solutions are likely to gain immense traction. This eco-friendly component of paper packaging is likely to support expansion of the global flexible packaging paper market in the years to come.
Increasing number of food and beverage products, such as frozen meals and cereals make use of such paper packaging solutions. It also extensive finds use in beauty and sterile health products, which is apparent from the fact that the personal care and cosmetics sector along with food and beverage industry are projected to observe booming growth in the global flexible packaging paper market.
Circular flexible packaging has emerged as one the significant and path-breaking trends in the market. There has been augmented focus on the sustainable solutions of packaging by the companies so as to cater to the needs of the consumers. Such factors are likely to work in favor of the global flexible packaging paper market over the tenure of analysis, from 2019 to 2029. However, the outbreak of Covid-19, an ongoing global pandemic, has caused massive disruptions in the packaging sector, thereby casing temporary setback in the market.
Global Flexible Packaging Paper Market: Geographical Analysis
Asia Pacific is likely to come up as one of the rapidly growing region in the global flexible packaging paper market. Growth of the market in the Asia Pacific region is attributed to the growing dominance of formats of flexible packaging in different industries, such as cosmetics and personal care, food and beverage. In addition to that, in comparison with other forms of packaging, flexible packaging using paper is quite lightweight, environment-friendly and makes use of less energy during transportation. Such attributes are likely to propel growth of the market in the Asia Pacific region.
The global flexible packaging paper market is segmented as:
- Kraft Paper
- Parchment Paper
- Greaseproof Paper
- Sulfite Paper
- Glassine Paper
- Bags and Sacks
- Consumer Goods
- Personal Care and Cosmetics
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