The global flexible packaging paper market is estimated to be a multi-billion dollar market and is likely to observe consistent growth throughout the period of assessment, from 2019 to 2027. Such consistency in the growth of the said market can be ascribed to the extensive use of flexible packaging paper across the food packaging industry. A rise in the demand for smaller sizes of packs together with growing preference for convenience is estimated to support steady growth of the global flexible packaging paper market over the timeframe of assessment, from 2019 to 2027. In addition to that, both consumer goods and pharmaceutical industry in many of the developed regions have generated increased demand for flexible packaging paper, which is likely to augur well for the market.
Increasing awareness regarding sustainable packaging is a major factor that will drive market expansion over the forecast period. Furthermore, increased demand for flexible paper packaging from end-use sectors such as food and beverages is likely to boost market expansion throughout the forecast period. According to Statistics Canada and the Annual Survey of Manufactures, the income generated by the food manufacturing business in Ontario, Canada was US$ 24,080.90 million in 2012 and climbed to US$ 27,069.65 million in 2017.
Over the projected period, the worldwide flexible paper packaging market is expected to rise due to the development of new packaging solutions. Sappi Limited, a developer of sustainable wood fibre products and solutions, for example, released recyclable flexible paper packaging with integrated sealing capabilities in April 2018. It is intended to replace heat seal plastic laminates used as flexible standard packaging in the food and other industrial industries.
Players operating in the global flexible paper packaging market include Mondi Group Plc, Smurfit Kappa Group plc, Sappi Limited, International Paper Company, Nippon Paper Industries Co., Ltd., WestRock Company, Georgia-Pacific LLC, KapStone Paper and Packaging Corp., Packaging Corporation of America, and BillerudKorsnäs AB among others.
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