Global flexible plastic packaging market expected to reach $34.02 Billion: Market Report
According to market research report by Technavio, “Global flexible plastic packaging market to grow by USD 34.02 billion, progressing at a CAGR of over 4% during 2020-2024.” Primarily, flexible packaging market is driven by the need of enhancing shelf life of products.
In addition, the packaging segment growth is being fuelled by the attractive look of pouch packaging and the increased use of packaging of dry foods, candies, confectioneries, agriculture products, and liquids. Furthermore rapid expansion of end-user industries such as e-commerce, FMCG is the major factor propelling the growth of the flexible plastic packaging market in Asia Pacific region.
China and India are the key markets for flexible plastic packaging solutions in APAC. It is expected that market growth in this region will be faster than the growth of the market in other regions.