According to the latest research by Pira International, a world-renowned consultancy for the packaging and printing industry, it is estimated that in 2011, the global flexible packaging market will consume 58.3 billion yuan, and in 2016 it will reach 71.3 billion yuan, with an average annual compound growth rate of 4.1%. It is estimated that the global flexible packaging consumption will reach 18.1 billion tons in 2011, and will reach 22.5 billion tons in 2016.
With the increasingly intense competition in the consumer market, new products created by brand owners emerge in an endless stream, and the flexible packaging market has benefited a lot from it. As major retailers need more durable and rigorous product protection measures, sealing flexible packaging is increasingly important.
According to AdamPage, head of reporting and consulting at Pira International, flexible packaging is increasingly valued by brands because of its versatility, low cost, and potential for innovation. Similarly, the lightweight packaging format of flexible packaging is an important attribute in terms of printed carbon footprint analysis and the environmental impact of packaging, and it increasingly highlights the importance of its characteristics.
The soft packaging market has matured in developed countries such as North America and Western Europe and will ease growth. However, Pira predicts that the flexible packaging market in developing countries will grow even stronger. Asia is the largest regional market, accounting for 29.1% of the global market share in 2011, followed by Western Europe and North America, which accounted for 27% and 20.7%, respectively. Asia is also the fastest growing market for flexible packaging consumption. The average annual compound growth rate for 2011-2016 is expected to reach 7.9%. Among them, China and India have the fastest growth rate. During this period, the growth of the two countries is expected to account for 44% of the global growth in the consumption of flexible packaging.
With the increasingly intense competition in the consumer market, new products created by brand owners emerge in an endless stream, and the flexible packaging market has benefited a lot from it. As major retailers need more durable and rigorous product protection measures, sealing flexible packaging is increasingly important.
According to AdamPage, head of reporting and consulting at Pira International, flexible packaging is increasingly valued by brands because of its versatility, low cost, and potential for innovation. Similarly, the lightweight packaging format of flexible packaging is an important attribute in terms of printed carbon footprint analysis and the environmental impact of packaging, and it increasingly highlights the importance of its characteristics.
The soft packaging market has matured in developed countries such as North America and Western Europe and will ease growth. However, Pira predicts that the flexible packaging market in developing countries will grow even stronger. Asia is the largest regional market, accounting for 29.1% of the global market share in 2011, followed by Western Europe and North America, which accounted for 27% and 20.7%, respectively. Asia is also the fastest growing market for flexible packaging consumption. The average annual compound growth rate for 2011-2016 is expected to reach 7.9%. Among them, China and India have the fastest growth rate. During this period, the growth of the two countries is expected to account for 44% of the global growth in the consumption of flexible packaging.
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