Flexible packaging includes all forms of packaging which are flexible in nature and is produced from paper, plastic, film, aluminum foil, or a combination of these. Some common forms of flexible packaging includes bags, pouches, labels, liners, wraps, rollstock, and other flexible products. This form packaging generally forms acceptance in consumer goods, particularly the Food & Beverage segment.
However, some industrial goods are also being packed in flexible packaging in the chemicals and pharmaceuticals, lubricants, bulk food and beverages ingredients industries. With rapid growth in these end use industries the demand for flexible packaging is on the rise, and the global market for industrial flexible packaging is expected to expand with an impressive CAGR over the forecast period.
Industrial Flexible Packaging: Drivers & Restraints
The major factors boosting the growth of Industrial Flexible Packaging is rising industrialization in Asian countries, and booming chemicals and pharmaceutical industries of the region. Now a days many raw material for these industries comes packed in flexible packaging, amid its lower cost, lower manufacturing cost and packaging time coupled with lighter weight.
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Its light weight capabilities provides the benefits of reduced logistic cost coupled with ease of transportation. This is enabling many prominent industrial product manufacturers to shift towards flexible packaging, over rigid packaging. Building and Construction Industry also attracts significant demand for flexible packaging these days, for small and medium volume products.
Rising consumerism across the globe and the demand for food and beverage products, is pushing the global food and beverage industry, thus complimenting more demand for its raw materials by F&B manufacturers. These raw material often comes in flexible packaging, generating constantly increasing demand for industrial flexible packaging.