Flexible Packaging (Cont’d from Page 1)
on sustainable packaging, increasing disposable income, the growing popularity of online sales channels, and the emergence of e-commerce are expected to be major factors influencing flexible packaging market growth through 2028. The pandemic of 2020 resulted in a major change in consumer trends across the world owing to the drastic effects of widespread coronavirus infec- tions. This sudden change in demand and supply impacted the overall packaging market and had a substantially adverse impact on demand for flexi- ble packaging in 2020. Moving From Lockdown With lockdown restrictions being common across the world, manufacturing and supply chain activity came to a near halt due to a lack of labor and raw material. Closure of multiple sales and distribution channels also impacted the sales of flexible pack- aging throughout the year. However, the flexible packaging market is expect- ed to make a steady comeback in the post-pan- demic era and is expected to surge as the world returns to normalcy and demand for flexible pack- aging through 2028 bolsters. Remaining Focused Increasing focus on waste management has sub- stantially propelled the demand for sustainable products and since packaging waste is a major con- tributor to the global waste problem, the need to develop sustainable packaging is more prominent than it was ever before and hence this is expect- ed to provide a lucrative opportunity to flexible packaging market players over the forecast period. Increasing research and development activity to develop eco-friendly sustainable packaging is ex- pected to be a major trend for flexible packaging market growth through 2028 and flexible packag- ing market players are expected to capitalize on this trend over the forecast period to boost their profit numbers. Plastic is and has been a major part of all kinds of packaging across the world and since plastic is a major harm to the environment its use is being restricted and limited across the world. These re- strictions are expected to be major challenges for flexible packaging market growth through 2028. Increasingly stringent mandates about the use of plastic in packaging are anticipated to prove to be a major challenge for multiple flexible packaging companies across the world.
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4 July 18, 2022 Flexo Market News
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