- The key vendors in the Flexible Plastic Packaging Market in the APAC Region 2015-2019 are Amcor Ltd., Bemis Co. Inc., Berry Plastics Corp. and Sealed Air Corp.
London, 31 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Flexible Plastic Packaging Market in the APAC Region 2015-2019. There is a gradual shift in customer preference to adopting flexible plastic packaging over its rigid counterparts because of convenience and sustainability issues. Flexible plastic packaging materials are 80 percent lighter in weight than equivalent rigid plastic materials, and are cheaper. They have high tensile strength and barrier properties. The Flexible Plastic Packaging market in the APAC region is expected to grow moderately during the forecast period of 2014-2019, posting a CAGR of 6.24 percent.
There has been a huge improvement in the quality and diversity of polymer materials used to produce packaging products. Development of materials such as BOPP, BOPET, and EVOH has improved the barrier properties of packaging items. However, the Flexible Plastic Packaging market in the APAC region faces intense competition from other flexible materials, such as paperboard, aluminum, and other rigid forms of packaging.
“Smart packaging refers to the use of a “smart” material capable of sensing a change in its immediate external environment through the use of sensors and indicators, thereby increasing the shelf life of the items inside,” says Faisal Ghaus, Vice President of Technavio Research.
“An automatic rectifying action takes place in response to the change in environment (temperature, moisture content, and pressure). Antimicrobial films also control the growth of microorganisms using additives. The films are even fitted with RFID tags to track items.”
To define the market conditions 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.
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