Global flexible packaging market forecast to grow at 4.1% annually to 2016

A new study from Pira, titled "The Future of Global Flexible Packaging to 2016", indicates that the global consumer flexible packaging market is worth US$58.3 billion in 2011 and is forecast to grow at a 4.1% annually to reach US$71.3 billion by 2016.

A new study shows the tonnage for the global consumer flexible packaging market is projected at 18.1 million in 2011 and is forecast to reach 22.5 million by 2016.

Flexible packaging has also benefited from a wider range of new products being developed by brand owners in an increasingly competitive consumer marketplace. Barrier flexible packaging will continue to grow in importance as the major retail chains demand greater product protection and longer shelf life. Pira expects higher-barrier plastics such as BOPET, EVOH and PA, to show the highest growth rates over the forecast period.

Flexible packaging has reached market maturity in the developed nations of North America and western Europe and future growth will be modest. However, Pira expects flexible packaging to see stronger growth in developing countries.

Asia is the largest regional market with 29.1% of global market volume in 2011, followed by western Europe and North America. Asia is also the fastest-growing market for consumer flexible packaging, with a forecast for 2011-16 of 7.9%. The region is forecast to represent 55% of total world flexible packaging consumption growth during the period 2011-16. India and China are the fastest-growing national markets for consumer flexible packaging according to Pira, together accounting for 44.0% of world flexible packaging consumption growth during the forecast period.