Albany NY, United States, May 27, 2022 (GLOBE NEWSWIRE) -- The value of the global metallized flexible packaging market was clocked at US$ 4.1 Bn in 2021. The market is estimated to develop at a CAGR of 4.4% during the forecast period, from 2022 to 2032. The global metallized flexible packaging market is anticipated to attain value of US$ 62.8 Bn by 2032. A rise in demand for adequate food packaging, as well as customers' increasingly stressful lifestyles, are likely to drive sales of metallized flexible packaging. Metallic flexible packaging has several advantages, including the ability to extend product life and eliminate the usage of preservatives. The food and beverage business has been reported to prefer lightweight as well as easy packaging styles over traditional packaging designs. Metallized flexible packaging is lighter than rigid packaging and does not require the use of extra materials such as glass, which adds to the package's weight. Other packaging causes the interior product to lose moisture, affecting the quality as well as texture of food and medicinal products.
Metallized flexible packaging protects against moisture, oxygen, vapor, and aroma, helping to prevent odor and fragrance loss. The increasing use of metallized flexible packaging is owing to the fact that it is more lightweight than rigid packaging and eliminates the need for cans and glass. It also assists in extending the shelf life of food items and reducing food waste.
Millions of individuals throughout the world have been afflicted by the COVID-19 epidemic. However, the pandemic has not posed challenges in metalized flexible packaging market. Rather, the need for metallized flexible packaging is rapidly expanding. Since more restaurants, shops, grocery stores, and malls make use of items like lidding films, wrapping films, bags and pouches, and various other packaging solutions, the need for metallized flexible packaging has expanded.
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Key Findings of Market Report
- This form of packaging increases product exposure and brand awareness amongst the general public. Companies are also able to improve the product's aesthetics and have a wide variety of uses in the pharmaceutical and food industries, resulting in lucrative global trade prospects. A completely automated system has also been created as a result of rapid technological improvements. Such metalized flexible packaging innovations and developments are likely to lead to the growth of the global market.
- Plastic's advantages regarding packaging applications go beyond its flexibility and technological brilliance. It can also contribute to boosting packaging sustainability. Light packing also reduces the quantity of waste items produced, reducing the environmental impact of trash treatment as well as management. One of the driving forces behind the increasing demand for metallized flexible packaging worldwide is a change in consumer preferences toward sustainable packaging materials. As a result, the global market for metallized flexible packaging is expected to grow in the years to come.
- In the global metallized flexible packaging market, the plastic industry is expected to develop at a rapid pace, clocking a CAGR of 4.9 % during the forecast period, from 2022 to 2032. This is owing to its reduced adverse footprint on the environment. Regardless of the fact that different materials can be used, manufacturers favor plastic-based metallized flexible packaging. This is to guarantee that production complies with environmental protection laws.
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Global Metalized Flexible Packaging Market: Growth Drivers
- Consumer demand for metallized flexible packaging is increasing as pouch usage rises. In comparison to other forms of packaging, research demonstrate that CO2 emissions are reduced throughout the pouch production process. Empty pouches are also easier to move as they are lightweight and less cumbersome.
- India is expected to be the most promising country in terms both market share and CAGR. The Metallized Flexible Packaging Market in India is expected to develop at a CAGR of 6.0 % during the forecast period.
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Global Metalized Flexible Packaging Market: Key Players
Some of the key market players are
- Dunmore Corporation
- UPM-Kymmene Oyj
- Klöckner Pentaplast GmbH
- AR Metallizing N.V.
- Nissha Co., Ltd.
- Constantia Flexibles Group GmbH
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Global Metalized Flexible Packaging Market: Segmentation
Material
- Plastic
- Paper
Application
- Packaging
- Decoration
- Printing & Lamination
- Labelling
- Insulations
End Use
- Packaging
- Non-packaging
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