Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Flexible (Converted) Plastic Packaging Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for Flexible (Converted) Plastic Packaging Market is forecast to surpass US$163.9 billion in 2024, with strong revenue growth through to 2034.
Drivers and Opportunities in the Evolving Landscape of the Flexible Converted Plastic Packaging Market
The flexible converted plastic packaging market is witnessing a dynamic surge propelled by diverse and compelling factors. Firstly, an escalating emphasis on sustainability is urging manufacturers to pioneer the development of eco-friendly packaging materials, exemplified by recyclable and biodegradable plastics.
As consumer awareness and regulatory pressures converge towards eco-conscious alternatives, this transformative shift creates a profound growth opportunity for the market. Secondly, the exponential growth of the e-commerce sector has triggered an upswing in demand for packaging solutions adept at safeguarding products during shipping while enhancing the overall unboxing experience. The imperative for durable and visually appealing packaging materials unfurls novel pathways for market expansion.
Rising Price of Raw Material Restrain Market Growth
The escalating prices of raw materials in the flexible converted plastic packaging market present a significant restraining factor that impacts various facets of the industry. As the foundation of plastic packaging, raw materials such as petroleum-derived plastics (e.g., polyethylene and polypropylene) are inherently sensitive to fluctuations in global oil prices. This sensitivity poses a dual challenge for both manufacturers and consumers of plastic packaging. The first consequence of rising raw material prices is the increased production cost for plastic packaging. Manufacturers incur higher expenses in sourcing, processing, and converting raw materials into finished products. These elevated costs are often passed on to consumers, making plastic packaging less cost-competitive, especially in markets with tight profit margins.
Market Dynamics
Market Driving Factors
- Better Substitute for Traditional Packaging Material Driving the Market Growth
- Increase Product Shelf-Life Driving the Market Growth
- The Market is Experiencing Growth Due to an Upsurge in Demand from End-Use Industries
Market Restraining Factors
- Rising Price of Raw Material Restrain Market Growth
- The Concerns Over the Environmental Impacts of Converted Plastic Packaging Waste
- Recycling Challenges with Flexible Packaging Products
Market Opportunities
- Innovation in packaging Opportunities for the Flexible Converted Plastic Packaging Market
- Rising Demand from E commerce Industry
- Governments and Regulatory Bodies are Increasingly Focusing on Packaging Waste Reduction
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising flexible (converted) plastic packaging prices and recent developments.
Segments Covered in the Report
Market Segment by Printing Technology
- Flexography Technology
- Rotogravure Technology
- Digital Printing Technology
Market Segment by End-Use Industry
- Food & Beverage Industry
- Healthcare Industry
- Personal Care & Cosmetics Industry
- Other Industry
Market Segment by Material
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Other Materials
Market Segment by Type
- Pouches
- Bags
- Wraps
- Films
- Sachets
- Other Type
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles for the following leading companies, with a focus on this segment of these companies' operations.
- Amcor plc
- AptarGroup, Inc.
- Berry Global Group, Inc
- Clondalkin Group Holdings B.V.
- Constantia Flexibles Group GmbH
- Coveris Group
- Huhtamaki Oyj
- Innovia Films
- Mondi plc
- Novolex Holdings Inc.
- Polytex Environmental Inks
- Printpack
- Pro Ampac LLC
- Sealed Air Corporation
- Sonoco Products Company
The report provides you with the following knowledge:
- Revenue forecasts to 2034 for Flexible (Converted) Plastic Packaging Market, 2024 to 2034 Market, with forecasts for printing technology, end-use industry, material, and type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Flexible (Converted) Plastic Packaging Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Flexible (Converted) Plastic Packaging Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/k6iinr
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