London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the flexible packaging market in the APAC 2015-2019, which is expected grow at a high rate to post a CAGR of 5.38 % during the period 2015-2019.
The increasing demand for more SKU sizes, a wide range of colored packaging products, and different packaging solutions for different products is expected to exercise a positive influence on the demand for flexible packaging products. Also, many vendors are establishing manufacturing plants in the emerging markets in APAC where production costs are low and the efficiency level is high.
“Retort pouch packaging is currently gaining increased popularity in this market as they are used to ensure sterile packaging of various foods and beverages. Also, they are designed without any caps or closures and are used in the packaging of juices, milk, and ready-to-eat food,” says Faisal Ghaus, Vice President of Technavio.
“Many food companies, especially non-alcoholic beverage companies, are adopting retort pouch packaging as it provides greater scope for new designs and sizes to be created, and it can be customized to meet the requirements of consumer goods manufacturers.”
Key Market Drivers
- Consumer Focus on Convenience and Sustainability
- Rising Level of Exports and Cheap Labor Base
- Rising Demand for Packaged Foods and Beverages
- Increased Demand for Plastic-based Flexible Packaging Products
- Increased Preference for Aesthetically Appealing Products
- Rise in Technological Innovations
Key Market Trends
- Increased Demand for Sustainable Packaging
- Increase in Number of Acquisitions
- Demand for High-barrier Flexible Packaging
- Adoption of Retort Pouch Packaging
- Use of Smart Packaging Materials
- Increase in Popularity of Modified Atmosphere Packaging
Key Market Vendors
- Amcor Ltd.
- Automated Packaging Systems
- Cosmo Films Ltd.
- Innovia Films
- Mondi
- Printpack Inc.
- Wipak
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
