WELLESLEY, Mass,, Aug. 06, 2018 (GLOBE NEWSWIRE) -- Due to a heightened amount of attention from the pharmaceutical, consumer goods, food and beverage, personal care and medical industries, along with increasing disposable income, the global market for flexible green packaging is expected to approach nearly $400 billion, according to a new report from BCC Research.
In 2016, the global market for flexible green packaging was valued at $255.5 billion. BCC Research estimates the market to be worth $273.4 billion and $395.0 billion in 2017 and 2022, respectively, indicating a compound annual growth rate (CAGR) of 7.6%, according to the report Flexible Green Packaging: Global Markets to 2022.
The term green refers to sustainable packaging, which includes reusable, biodegradable, recyclable and energy-efficient materials. Flexible materials used for packaging are those materials whose shape can be readily changed in accordance to the packaging requirements. These are non-rigid materials, available generally in the form of films, pouches, bags and cartons. Flexible green packaging is slowly gaining in the field of packaging.
Research Highlights
- In 2016, paper accounted for the largest share of the global market at an impressive 79.2% and is expected to reach a CAGR of 7.8% during the forecast period.
- The food industry application dominated the global market’s demand by almost half (50.03%) in 2017.
- Consumer good’s applications demand is expected to be $91.0 billion by 2022, indicating a CAGR of 8.3%.
“There is a shifting preference toward high-multilayer films,” said BCC Research analyst and report author Abhigyan Sengupta. “The major reason for this shift in trend from two- and three-layered films to seven- and nine-layered films is the advantages they offer, such as extended shelf life without losing product aroma and quality, while significantly reducing chances of contamination.”
This report is targeted toward producers, environment protection agencies, end-users, suppliers, raw material providers and investors who are interested in learning how to define and predict the trends of this up-and-coming material.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.