Wilmington, Delaware, United States, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A research report by Transparency Market Research (TMR) states that the global flexible packaging paper market is estimated to reach a value of US$ 65.2 Bn by the end of 2029. Also, the TMR review reveals that the market for flexible packaging paper is expected to grow at a CAGR of 4.1% during the forecast period, from 2022 to 2029.
Major market players are investing in R&Ds in order to develop environmental-friendly and sustainable products. Furthermore, several companies are using the strategies of mergers, acquisitions, and joint ventures in order to expand their regional presence. Such efforts, in turn, are likely to create avenues for the expansion of the global market during the forecast period.
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Key Findings
- The use of different pollutant materials for packaging purposes can lead to harmful effects to the environment. Due to rise in understanding among major consumer base regarding this factor, there has been a surge in the inclination of this population pool toward the use of eco-friendly and sustainable materials for packaging. Hence, the adoption of recyclable and biodegradable packaging papers is being rising in the recent years. Therefore, companies producing flexible packaging paper are strengthening their production abilities in such product types in order to cater to the rising market demands, notes TMR analysis.
- The government authorities of several developed and developing countries across the globe are focusing on spreading understanding pertaining to the advantages of lightweight, recyclable, and sustainable packaging papers. This factor is likely to generate profitable avenues in the market, notes a TMR review that delivers important insights pertaining to the flexible packaging paper market trends.
- The demand for flexible packaging paper is being rising in major end-use industries in order to perform the packaging of different products. Hence, surge in the use of lightweight and flexible packaging paper in the pharmaceuticals, food, personal care & cosmetics, consumer goods, and agriculture sector is driving the market growth. Moreover, the TMR analysts note that the market players are projected to gain sizable business prospects from the food industry in the forthcoming years owing to rise in the popularity of frozen food and ready-to-eat food items globally.
- Companies engaged in the manufacturing of pharmaceutical goods, cosmetics & personal care, and food & beverages products are inclining toward the adoption of technological advancements including automation in packaging of their products and offerings. Hence, these companies are increasing the demand for next-gen packaging solutions that can be used in the automatic packaging machines. Such factors are likely to drive the market growth in the near future, note analysts of a TMR review.
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Growth Boosters
- Increase in the inclination toward the use of sustainable packaging solutions worldwide is one of the important flexible packaging paper market growth factors
- Rise in the product demand from the food industry is expected to help in the development of the flexible packaging paper market size during the forecast period
Flexible Packaging Paper Market: Key Players
Some of the key players profiled in the report are:
- Mondi Group
- International Paper Company
- Canadian Kraft Paper Ltd., a.s.
- Gordon Paper Company, Inc.
- Nordic Paper AS
- McNairn Packaging
- Pudumjee Paper Products Ltd.
- PG Paper Company
- Stora Enso Oyj.
- Sappi Limited
- Nippon Paper Industries Co Ltd
- DS Smith PLC
- Gulf Paper Manufacturing Company
- BillerudKorsnas AB
- Emami Paper Mills Ltd.
- Smurfit Kappa Group PLC
- Rengo Co Ltd.
- WestRock Company
- JK PAPER Ltd, etc.
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Flexible Packaging Paper Market Segmentation
- Paper Type
- Kraft Paper
- Coated Kraft
- Uncoated Kraft
- Parchment Paper
- Greaseproof Paper
- Sulfite Paper
- Glassine Paper
- Kraft Paper
- Product Type
- Bags & Sacks
- Pouches
- Envelopes
- Wraps
- Sachets
- End-use Industry
- Food
- Bakery & Confectionery
- Ready-to-eat
- Fruits & Vegetables
- Food Grains
- Dairy Products
- Pharmaceuticals
- Consumer Goods
- Agriculture
- Personal Care & Cosmetics
- Others
- Food
Region
- North America
- Latin America
- Europe
- Middle East & Africa
- East Asia
- South Asia
- Oceania
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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