Global flexible packaging market growth

Views:1     Author:Site Editor     Publish Time: 2018-06-30      Origin:Site

According to a new report by PMMI Business Intelligence, the US flexible packaging market was valued at approximately $24 billion in 2016. The global market was valued at $98 billion, with an expected CAGR of 5.2% between 2017 and 2022. While the global flexible market is still smaller than global rigid, it is growing at a faster rate.


Flexible packaging has benefits such as being better suited for printing - making it a great marketing tool; having a lower space footprint than similar rigid packages; and, providing a longer shelf life if multi-layered films are used.


According to one packaging manager at a tortilla chip co-packer, growth of “unique types of flexible packages” has been pronounced in recent years, including a stand-up pouch explosion (especially the zippered kind).


According to an OEM case study, there is a move from bag in-box (BIB) to bag, with benefits such as cost savings, efficient/sustainable material usage and machinery savings (no need for cartoner). One example is Ritz Toasted Chips.


Food segments that are traditionally BIB (e.g. cereals) are making this transition, especially for high-end products like granola cereals. For snacks, the transition has started with crackers (other categories to follow).


To meet these changes, demand for flexible vertical form/fill/seal machines will be high in the coming years, as CPGs like the smaller footprint and the associated space-saving. However, VFFS machines must improve in terms of flexibility; as respondents feel that currently they do not run stand-up pouches well enough - zippered or unzippered.


Source: PMMI Business Intelligence “Snack Foods – Packaging and Processing Market Assessment and Trends 2018”


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