The global flexible packaging market will grow to an estimated US$99,621.9 million by 2018, according to a recent report published by MarketsandMarkets.
In the market research company’s report Flexible Packaging Market by End-Use (Food, Beverage, Personal Care & Pharmaceutical), Material (Polypropylene, BOPP, CPP, Polyethylene, EVOH, PA, BOPET, PVC, Aluminum, Paper, Cellulosic) – Global Trends & Forecast to 2018, the flexible packaging category is forecast to grow by a 5.1% CAGR from 2013-2018, rising from the 2012 level of $73,825.3 million.
In 2012, Asia-Pacific led the global market followed by Europe and North America in terms of revenue.
According to the company, Asia-Pacific has the highest market share and is estimated to grow with a CAGR of 7.1% during the review period.
Europe is growing with a CAGR of 3.9%, driven mainly by the East European markets. And the Rest of the World is also expected to experience growth, with a CAGR of 6.0% from 2013 to 2018.
The four nations with “most potential” for flexible packaging market are said to be India, China, Russia, and Brazil which are “poised to exhibit the fastest growing trend”.
By application in the flexible packaging market, the report says pharmaceutical packaging is the fastest growing market with a CAGR of 7.1% during the forecast period.
