Source: Pragati Pathrotkar in The Edition Truth
The global flexible packaging market is very fragmented and because of the numerous players in the market, the nature of this market is very competitive. The entry level barriers is low and therefore the flow of new entrants is high, states Transparency Market Research in a recent report. The market is now witnessing a rise in the number of mergers and acquisition activities in Europe and North America mostly, which will result in consolidation of the market shares. Some of the key players in the flexible packaging market are: The Dow Chemical Company, Clondalkin Flexible Packaging Wentus, and Amcor Limited.
Flexible packaging is gaining grounds in the field of primary packaging. Advancements in material science have allowed manufacturers to create flexible packaging the food and beverage industry better than before. This packaging can maintain the primary function of protecting its contents while providing the advantages of lower weight, better performance, and a much lower scope of contamination. Flexible packaging is also easier to handle and store, making transportation of goods a lot smoother.
The number of developments in the field of packaging materials and packaging technologies in the last few years has significantly impacted the global flexible packaging market in a positive manner. These developments have helped boost the scope of use for flexible packaging for various end use application areas as well as product varieties in the food and beverage, pharmaceutical, and consumer goods sector. This in turn has led to the growth of this market. Some of the other factors behind the increasing demand for flexible packaging include light weight of packaging, increase shelf life of perishable products, easy identification of tampering on the packaging, and effective resistance against foreign adulteration.
While there are many benefits of flexible packaging, there are a few issues which is expected to restrict the growth of the market. The use of multiple layers of a variety of materials in this form of packaging makes recycling a difficult and complicated procedure. In many instances the combination of plastic and metal is used for flexible packaging which makes the recycling process difficult because plastic is easy to recycle as compared to metals. With environmental sustainability norms becoming stringent why the day, the aforementioned issues with regards to flexible packaging will act as a challenge for the market.