E-Commerce Boosts Flexible Packaging
Mondi (Cont’d from Page 1)
on revenue of only 821 million. It earned another 225 million euros in the first half of this year, de- spite the outbreak of war. Mondi also has three much smaller plants in Rus- sia that are not affiliated to Syktyvkar and not part of Friday’s deal with Augment Investments, it said. It plans to divest those as well after it explored all options for its interests in Russia following the Ukraine war. Many Western companies have suspended Rus- sian operations or left the country completely fol- lowing Moscow’s invasion of Ukraine, which has complicated doing business there. Expecting Approval The deal is conditional on approval by the Rus- sian government and Mondi shareholders, who will receive a dividend from the proceeds, the company said. It is expected to close in the second half of 2022, Mondi said. Mondi’s Syktyvkar, a pulp, packaging paper and uncoated fine paper mill located in the capital of the Komi Republic, employs about 4,500 people and generated revenues of more than 821 million euros ($845 million) last year.
The global flexible packaging market was valued at $68.5 billion in 2021, and is projected to reach $102.8 billion by 2031, growing at a Compound An- nual Growth Rate of 4.2 percent from 2022 to 2031, according to a new report. Meeting Demand “The high demand for flexible packaging from food and beverages industry owing to change in lifestyles as well as increased consumer aware- ness regarding health and hygiene, particularly in emerging economies such as China and India, will fuel the market growth during the forecast period,” said Eswara Prasad, Manager, chemical and materi- als, Allied Market Research, the company that pro- duced the report. “Moreover, the demand for flex- ible packaging is growing faster due to growing trends like e-commerce, digital printing, and sus- tainability, which is anticipated to boost the market growth.” The market for flexible packaging is experiencing growth due to the rise in demand for snack and convenience foods in single-serving or small-serv- ing sizes, according to the report.
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Flexo Market News August 15, 2022 3
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