in-depth analysis of the flexible packaging market, along with input from flexible packaging experts. In it, Technavio covers the predicted growth prospects for the period between 2015 and 2019, and a report on key vendors in the market. Authors divide the segments of the market based on the type of raw materials used, product types, and location.
“The process uses flexible or easy-yielding materials that can easily change shape based on the nature of the product being packaged,” write the authors of the report. They believe that flexible packaging has been so successful in recent years due to a rise in the use of flexible packaging for companies looking to reduce their waste.
A previous study showed the global market for this industry growing at an annual rate of 3.4% between the period of 2010 to 2015, reaching $248 billion. The recent report was meant as an overall update of what has happened in the industry the past five years.
Additionally, there has been increase in demand for flexible packing products in North America, especially for food products. Many companies have turned to flexible packaging solutions as a way to replace non-renewable metals and glass. Plastic is the most popular of the flexible materials, as it is cheaper and can be easily shaped.