There is a growth in global food requirements due to an increase in the global population. This is the driving factor for the manufacturers of packaging solutions. The Asia Pacific region, especially China and India are boosting the flexible packaging solution market through innovative technologies and creative advertisements. The market for packaged food goods in the US and European countries has also further expanded in the past decade. Few of the major players in the market include Huhtamaki Group, BASF SE, Bemis Company, and Mondi. These companies are primarily supplying flexible packaging solutions to developing economies of India and China. They control the packaging market there with their futuristic operations and marketing.
General Overview Of The Global Packaging Market
The demand for packaged food has increased globally, but more than ever in Europe and the U.S. This has urged the development of production technologies which results in improved packaging solutions for ready-to-consume end products. Startups in the packaging market across the globe are flourishing due to an expansion in the target market of packaging material. Additionally, rampant advancements in processing technologies in the American and European food industry is estimated to further boost the packaged foods market, as well as the demand for flexible packaging. The packaged food sector is able to reduce the investment costs due to developments in the processing techniques, which help in boosting food products’ shelf life. The demand for flexible packaging is maximum for snacks and beverages. A rise in the demand can also be attributed to technical innovation, the introduction of modern retail trade, busier lifestyles and an apparent increase in the number of quick-service restaurants.
Changing Manufacturing Trends In Flexible Packaging
Over the past decade, innovations in the science of nanotechnology and storage have revolutionized the way packaging solutions are designed and executed. According to experts, nanotechnology is on the verge of being employed as a mainstream practice in developing flexible packaging. The technology is helping popularize functional foods, efficient food production, and more sustainable food processing. One of the first commercial applications of nanotechnology has been found in the industries of flexible packaging.
Emerging economies of Brazil, South Africa, and Russia are helping expand the flexible packaging market as the target audience there is showing characteristics of having high disposable incomes, and consumption of more number of packaged goods. Environmentally friendly packaging solutions are also popular since past few years. Consumers across the globe are demanding packaged goods which are environmentally friendly and are biodegradable. Consumers, especially in regions of North America and Europe, prefer flexible packaged goods which are light and are aesthetically appealing.
The global scenario of the packing industry is highly dependant on upcoming technologies which are deciding the way flexible packaging is carried out. Major players in the industry are segmented on the basis of their target audience, and the nature and type of technology they use for manufacturing. Research and development are carried out to decide the quantity of raw materials required for the manufacturing of flexible packaging and the and overall cost of the supply chain operations.