Flexible Packaging Paper Market: Introduction
Transparency Market Research delivers key insights for the flexible packaging paper market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2022–2029. In terms of revenue, the global flexible packaging paper market is projected to grow at a CAGR of 4.1% during the forecast period, owing to several factors, about which TMR offers detailed insights and forecasts in the flexible packaging paper market report.
The global flexible packaging paper market growth is projected to witness significantly positive growth rate during the forecast period compared to the historical years. Factors, which drive the market are sustainability, cost-effectiveness, lightweight, and durability. The food industry is most lucrative for flexible packaging paper among the other end-use industries. The growing demand for ready-to-eat products, bakery & confectionaries, and packaged food and dairy items in urban as well as rural areas are consistently increasing the usage of flexible packaging paper.
Among all product types, bags & sacks product type is projected to have the most positive growth in the market during the forecast period, 2022-2029. Apart from bags & sacks, pouches and wraps are estimated to witness decent market growth during the forecast period in the flexible packaging paper market.
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Surging Trend of Customized Flexible Packaging Solutions with Printability among Manufacturers Driving Flexible Packaging Paper Market
The rising need for customized packaging solutions is the latest trend among the innovation-driven packaging industry. Customers are more concerned about the complete look and feel of packaged products over products that have a less appealing look.
Flexible packaging solutions made of paper are used as a branding tool by marketers and brand owners who print eye-catching graphics and designs on products to produce packaging with an aesthetic look, which encourage more number of customers in modern retail facilities to buy these products.
Packaging manufacturers are offering customized and personalized packaging designs to comply with latest industry standards. They are also working on enhancing the quality of flexible packaging made of paper. All these trends are projected to witness worldwide popularity across continents, leading to a positive impact on the expansion of the global flexible packaging paper market.
Increasing Popularity of Sustainable Flexible Packaging Solutions Fueling Demand for Flexible Packaging Paper
There is rise in environmental awareness among educated consumers regarding the negative impact of various pollutant materials have on Earth. People are choosing products and offerings, which are packed in sustainable raw materials over other non-recyclable raw materials used for producing packaging solutions.
Producers are encouraged to use paper that have features such as easy recyclability and are bio-degradable, and do not release harmful emissions into the eco-system. Moreover, the buying behavior of consumers with preference for eco-friendly packaging is positive, which provides lucrative growth opportunities to manufacturers of flexible plastic packaging.
Furthermore, producers of flexible packaging paper are using sustainable raw materials and can differentiate themselves from other competitors in the market. Likewise, end-use industries can also market and promote the sustainability of their packaging solutions as their initiative toward a green environment, which can result in increased goodwill of the company and create a better brand image among customers.
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Flexible Packaging Paper Market: Competition Landscape
Key players in the global flexible packaging paper market are focusing on strategies such as expansions, product launches, and acquisitions to capture maximum market share and enhance their global footprint in the target market. For instance, in December 2021, BillerudKorsnas AB announced that it has entered into an agreement to acquire Verso, a leading producer of coated papers in North America.
In December 2021, Stora Enso announced an investment of US$ 26 Mn (€23 Mn) at its Varkaus containerboard mill in Finland to boost capacity.
In May 2021, Mondi Group announced acquisition of 90.38% of Olmuksan from International Paper
In December 2020, Mondi announced opening its first paper bags plant in Colombia to serve South American customers
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, International Paper Company, Stora Enso Oyj, and Smurfit Kappa are tier 1 players in the flexible packaging paper market. These leading companies are adopting key strategies such as business expansion, acquisition, and products launch to strengthen their position in the flexible packaging paper market.
Moreover, tier 2 players are Westrock Company, Nordic Paper AS, Sappi Ltd., and Mondi plc, among others.
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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