Flexible (converted) plastic packaging is a type of packaging, which includes joining raw material such as paperboard, plastics, paper and others to produce new packaging products, such as bags, pouches and others. The classification of flexible (converted) plastic packaging is classified into different segments of market such as transparent, translucent, color and others. Not only has this, the applications of flexible (converted) plastic packaging is also segmented into different market such as food industry, medicines, daily necessities and others. On the other hand, the environmental advantage of flexible (converted) plastic packaging has witnessed a rapid growth in the market largely due to it is broadly used across the end user such as food and Beverages and others.
Developing countries have shared the most, in current position growth rates being exhibited in this industry. This has increased consumer confidence which has led to growth in the flexible (converted) plastic packaging growth. Therefore, with the development in the countries has witnessed rapid growth than the expected in recent years in the market of the flexible (converted) plastic packaging. According to the report analysis, ‘Asia Flexible (Converted) Plastic Packaging Industry Situation and Prospects Research Report’ some of the major key companies which are functioning in this market for enhancing the product such as Environmental Packaging Technologies, MY FlexiTank, Qingdao LAF Packagng, SIA Flexitants, Trans Ocean Bulk Logistics, BeFlexi, BLT Flexitanks Industrial, Bulk Liquid Solutions, Mak & Williams Flexitanks Supply Limited, Rishi FIBC Solutions and others. The competition among major players in flexible (converted) plastic packaging market is mainly based on volume, suppliers profile and sales data, market share, revenue and others. The report also describes the key applications across key players with their capacity, price, revenue, cost and gross margin analysis 201-2017.
Increase in demand for pouches will remain the major growth driver for the flexible (converted) plastic packaging product, while many industries will continue to hold large share in overall demand. Moreover, lifestyle of consumers will increase the demand for flexible (converted) plastic packaging due to rising demand of snacks and junk food items among youngsters in place of traditional meals or sweets. The significant growth in the demand for snacks, baked goods, meats, personal packaging, pharmaceutical supplies, confectionary and others leads to more competition and a rapid growth in this industry of flexible (converted) plastic packaging. Therefore, with the increase in demand the market of flexible (converted) plastic packaging is spread across China, India, Japan, Korea, Saudi Arabia and other geographical regions. In addition, the flexible (converted) plastic packaging market developed the market trends, having a major impact on development in the packaging over recent years. Whereas the report also cover the key developed countries and the importance of the flexible (converted) plastic packaging market by countries. Moreover the companies are currently investing in updating and upgrading their technologies in order to maximize the demand of the flexible (converted) plastic packaging such as flexitanks.
In future, it is estimated that the demand of Flexible (converted) plastic packaging is going to take a significant place in the market where as the Asia-Pacific region will be the largest consumer of it, which will hold the largest share in this industry in the coming years. Since, there are many companies who are going to invest in this market; therefore the future of this industry is expected to be bright.
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Ankur Gupta, Head Marketing & Communications