Packaging is an exclusively low-valued product that has considerably less radius upto which it could be profitably transported to the customers. Maintaining an efficient operations network and supply chain for packaging industry is a complex task. Flexible packaging could be compacted for transport purposes, which in turn makes it outperform than any other packaging. Flexible packaging is expected to gain significant momentum as it is highly feasible for the low-cost country manufacturers to export products to the developed markets. The macroeconomic environment is witnessed as being challenging for packaging industry since the recent past, given the pressure on consumer spending as well as their exposure to the FMCG (fast moving consumer goods) producers.
Rapidly increasing consumption of processed food and beverage, advancements and innovations in packaging and its environmental benefits is likely to fuel adoption of flexible packaging. Flexible packaging has wide-ranging applications in food and beverage industry, on account of its exclusive features such as eco-friendliness, reduced shipment and production costs as well as ease of handling further drives adoption of flexible packaging. Companies involved in flexible packaging are taking immense efforts in making heavy investments in R&D, in order to come up flexible packaging products that holds barrier resistance properties.
Pouches to Outgrow Sales of Flexible Packaging Products
Pouches with flexible packaging such as stand-up pouches are expected to witness high growth rate, on account of their high barrier properties against oxygen and moisture together with cost-effective properties and low-material usage. Expanding medical, dairy and confectionary industry along with technological innovations and advancements in barrier materials and the surging retail business, with growing usage of stand up pouches are likely to trigger the overall flexible packaging industry growth. According to Future Market Insights, with North America being the hub of leading flexible packaging manufacturers and high growth in the pharmaceutical and retail industry is anticipated to outgrow sales of flexible packaging products in the region.
“Tekni-Films is anticipated to be a notable flexible packaging material for the FMCG packaging manufacturers owing to its cost-effectiveness, thermoformable and ultra-high barrier materials. Most of all, these structures have turned out to be an alternative for the cold form foils, thereby enabling the pharmaceutical companies in using small blister cards for capsules and other tablets”, Senior Analyst, Future Market Insights.
FMI offers lucrative insights on flexible packaging market based on packaging solutions such as FMCG (fast moving consumer goods) packaging and consumer goods packaging.
Concentrated Demand for FMCG Packaging in Pharmaceutical Industry; Manufacturers Step up Market Presence with Low-Priced and High-Volume Items
Growth prospects of FMCG packaging market is likely to be attributed towards rapidly increasing usage of pharmaceutical pre-fillable pouches and inhalers with the surging number of asthmatic and allergic patients. New therapies and innovations constantly taking place in the pharmaceutical industry is expected to further create growth avenues for the FMCG packaging market. Since the recent past, demand for small-sized products with flexible packaging options further drives the overall FMCG packaging market.
Apart from this, manufacturers of FMCG packaging are striving towards developing innovative packaging solutions for the purpose of minimizing operational costs. Growing consumer willingness towards premium products with high volume and low price is likely to influence manufacturers in introducing attractive packaging products. Most of all, packaging in FMCG sector holds a significant share in material costs involved in the development of finished products.
The FMI study provides various actionable insights on the prominent companies functioning in the FMCG packaging market together with in-depth analysis on investment opportunities for the overall market players to elevate their position in the FMCG packaging market.
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