Flexible packaging market to hit $99bn in 2018

The flexible packaging market has been forecast to grow from $73 billion in 2012 to $99 billion by 2018 with a CAGR of 5.1%, according to a new report from MarketsandMarkets.

The report shows that Asia-Pacific led the global market, followed by Europe and North America, in terms of revenue in 2012. The Asia-Pacific market share is estimated to grow with a CAGR of 7.1% between 2012 and 2018, the report says. Europe is growing with a CAGR of 3.9%, driven mainly by the East European markets.

The rest of the world (ROW) is also expected to experience growth in flexible packaging in the future, with a CAGR of 6.0% from 2013 to 2018. The four markets with the greatest potential for growth are India, China, Russia and Brazil.

In the flexible packaging market, pharmaceutical packaging is the fastest growing market with a CAGR of 7.1% during the forecast period. Following it, food packaging is estimated to be the second fastest growing market in 2013, due to the rise in consumption of packaged food. Growing health concerns and knowledge about the nutrition value is driving the market for packed products to preserve the end-products.

The full report is available from www.marketsandmarkets.com/Market-Reports/flexible-packaging-market-1271.html.