The global flexible lidstock packaging market will be driven by growth in the flexible-packaging market majorly due to the changing lifestyle of the people that results in the rise in demand for ready-made meals with extended shelf life. The booming packaging industry is also contributing significantly to the growth of the flexible lidstock packaging market. Factors such as the rise in consumption of convenient packaged food & beverages, personal care products, and pharmaceutical is contributing to the growth of the market. Increased innovations in flexible lid stock packaging along with low cost is also adding to the growth.
The key players of Flexible Lidstock Packaging Market are Amcor Ltd. (Australia), Bemis Company, Inc. (U.S.), Berry Plastics Corporation (U.S.), Mondi plc. (Austria), Sonoco Products Company (U.S.), EP Industries Ltd. (Alfreton, England), Wipak Germany GmbH (Germany), Anchor Packaging Inc. (U.S.), Coveris Holdings S.A. (U.S.) and Sealed Air Corporation (U.S.) among others.
Market Research Analysis
The packaging type is the most important for packaging of food, beverages, pharmaceutical products and others. Among all applications used for packaging, the food & beverage segment is expected to grow rapidly. The food & beverage segment also includes dairy products. The improved shelf life of the food and beverages due to barrier properties and valving capabilities is also expected to drive the growth of flexible lidstock packaging market for the food & beverage segment.
Asia-Pacific region is expected to dominate the flexible lid stock packaging market with the highest CAGR due to the rapidly changing lifestyle, increase in the disposable income, extensive growth in population, and the constantly growing packaged food industry. The increasing urbanization has led to the increased use of convenient and low cost flexible lidstock packages among the people, thereby driving the growth of the market.