Flexible Packaging (Cont’d from Page 9)
likely experience increased usage for packaging a wide range of food products. Packaging options utilizing nitrogen to preserve product quality, tex- ture, and color are particularly favorable. Further- more, the pharmaceutical industry is anticipated to witness an upswing in packaging usage. The COVID-19 pandemic has had varied impact on the flexible plastic packaging market. Initially, the market encountered challenges such as supply chain disruptions and temporary factory closures due to stringent global lockdown regulations. How- ever, the global market has experienced a consistent demand for flexible packaging due to the world- wide surge in online food and grocery shopping. Additionally, the demand for packaged food and beverages has increased due to pandemic-related restrictions and the need to sustain market stability. The efficient recycling of plastic waste necessi- tates the presence of advanced infrastructure facil- ities. However, infrastructure facilities worldwide are encountering challenges in effectively recycling plastic materials. For instance, in the United States alone, more than $11 billion in plastic products are discarded annually due to recycling difficul- ties. According to the United Nations Environment Program, the global production of plastic waste
ly held a significant market share in the flexible packaging market, accounting for approximately 56 percent. This can be attributed to the widespread adoption of flexible packaging for storing and transporting food and beverages, which is expect- ed to drive the segment’s growth during the fore- cast period. The nonfragile and lightweight nature of flexible packaging has been instrumental in its market expansion. In developing and developed nations, household dynamics and busy lifestyles have altered consump- tion patterns. The prevalence of dual-income house- holds in developed countries has led to a surge in the consumption of ready-to-eat and ready-to-cook meals, creating a substantial demand for flexible packaging. Meanwhile, rapid industrialization and urbanization in developing nations have similarly influenced lifestyles and consumption habits. Con- sequently, there has been increased food consump- tion from restaurants, packed food, and processed food, resulting in a growth in the demand for flex- ible packaging. The growing demand for various types of snacks, which often substitute for full meals, is expected to drive flexible packaging consumption. Pouches will
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Flexo Market News August 14, 2023 11
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