ASEAN Flexible Packaging Market, by Product Type (Pouches, Bags, Films, and Roll stocks), by Layer Type (Mono-layer and Multi-layer), by Material Type (Polyethylene, Polypropylene, Nylon, and Polystyrene), by End-use (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Homecare & Toiletries, and Sports Goods)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Oct 2022

Code : CMI3987

Pages :120

Formats :

Excel and PDF

Industry : Packaging

Market Challenges And Opportunities

Drivers

Driver 1

Growing awareness about flexible packaging as a high-performance packaging solution is expected to foster the market growth of flexible packaging. The advent of flexible packaging with modified atmosphere packaging (MAP) properties that offer a high level of permeability for an atmosphere that helps in modifying the internal environment of the packages is expected to fuel the market growth of the ASEAN flexible packaging.

Driver 2

Growing food & beverage industry in the ASEAN countries due to increasing consumer spending is fueling the market growth of ASEAN flexible packaging. The growing population, coupled with the increasing population is propelling demand for food and this is expected to drive the market growth. Moreover, rising demand for convenience food due to busy lifestyle of consumers is another major factor projected to augment the market growth of ASEAN flexible packaging.

Advancement in the inspection technologies by major players is expected to favor the market growth of the ASEAN flexible packaging. For instance, in April 2019, Amcor launched AmLite Ultra Recyclable. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams.

Market Restraints

Restraint 1

Flexible packaging is comprised of thin layers that are unable to provide proper physical protection to the products. Moreover, liquid packaged products require gentle handling as they get easily punctured and this is further expected to hinder the market growth of the flexible packaging.

Restraint 2

The volatile price of raw materials used in the manufacturing of flexible packaging due to the unstable price of crude oil is expected to hamper market growth.