The global metalized flexible packaging market is estimated at $4.5 billion and is expected to reach $5.8 billion by 2025, at a CAGR of 5.3% over the forecast period of 2020-2025, according to a research report by Markets and Markets called, "Metalized Flexible Packaging Market.” The market is projected to grow in accordance with the increased in demand for sustainable and new metalized flexible packaging, longer shelf life of products and customer-friendly packaging. Raw material costs restrain market growth.
Aluminum foil segment is estimated to lead the metalized flexible packaging market during the forecast period.
By type, the aluminum foil based segment led the metalized flexible packaging market in 2019. Aluminum is the most commonly used metal in flexible metal packaging, primarily due to its cost-effectiveness. Aluminum is a lightweight, silvery-white metal derived from bauxite ore, where it exists in combination with oxygen as alumina. Magnesium and manganese are added to aluminum to improve its strength. Aluminum is highly resistant to most forms of corrosion and its natural coating of aluminum oxide provides a highly effective barrier against air, temperature, moisture and chemical attacks. Aluminum foil based flexible packaging is used in packaging for food, beverage and pharmaceutical and personal care products.
Pouches is estimated to be the largest segment in the global metalized flexible packaging market.
The pouches segment is expected to grow at the highest CAGR from 2020 to 2025. The metalized flexible packaging market has witnessed a significant increase in the demand for pouches, mainly for food packaging, as it increases the visibility of the product and extends the product shelf life. There is increasing use of metalized flexible pouches in e-commerce and offline retail sectors owing to its requirement of less space on the shelf.
The food segment is projected to lead the metalized flexible packaging market.
The food segment is projected to witness the second highest CAGR during the forecast period. This market position is attributed to changing consumer sentiments and rising demand for packaged and processed food, backed by growth in population. More people are aware of the nutritional value of food and growing demand for convenience food has further led to the development of metalized flexible packaging for the food and beverage industry. The demand for the longer shelf life of food products, such as meat, milk and cheese, is expected to drive the market.
The APAC region is projected to witness the fastest growth in the metalized flexible packaging market during the forecast period.
The metalized flexible packaging market in the APAC region is projected to grow at the highest CAGR between 2020 and 2025. China, India and Japan together accounted for the major share of the region’s metalized flexible packaging market in 2019. The APAC region is an emerging and lucrative market for metalized flexible packaging, owing to industrial development and improving economic conditions. The presence of plastic products manufacturing plants in China and rapid industrialization in the region are expected to drive the market during the forecast period.
Amcor (Australia), Mondi (UK), Sealed Air Corp. (U.S.), Sonoco (U.S.), Polyplex (India), Huhtamaki (Finland), Transcontinental (Canada) and Cosmo Films (India) are key players operating in the metalized flexible packaging market.
You can find the full report here.