The rapid increase in demand for the longer shelf life of products coupled with an increase in conscious consumerism among the customers is a few of the critical market trends fueling the growth of the Metalized Flexible Packaging Market
JERSEY CITY, N.J., Jan. 27, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Metalized Flexible Packaging Market" By Material Type (Aluminum, Chromium, Nickel), By Packaging Type (Pouches, Bags, Roll stock, Wraps), By End-Use Industry (Food and Beverage, Pharmaceutical, Personal Care, Pet Food), and By Geography. According to Verified Market Research, the Global Metalized Flexible Packaging Market size was valued at USD 4.1 Billion in 2020 and is projected to reach USD 6.31 Billion by 2028, growing at a CAGR of 5.41% from 2021 to 2028.
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Global Metalized Flexible Packaging Market Overview
The market for metalized flexible packaging is being driven by customers' increasingly busy lifestyles and the resulting desire for convenient food packing. Metalized flexible packaging extends the shelf life of products while reducing the need for preservatives. Traditional packaging styles are being phased out in favour of lightweight, easy-to-handle packaging in the food and beverage business. Metalized flexible packaging helps meet this demand because it is lighter than rigid packaging and does not contain glass or cans, which add to the packaging's weight. The texture and quality of food, as well as pharmaceutical products, are affected by moisture gain or loss.
It can also hasten the breakdown of fat-containing goods. Ones with a strong flavour, such as coffee, are more prone to lose their scent, while bland foods absorb it. Metalized films are used to prevent the loss of scent and odour by protecting protection against oxygen, moisture, vapour, and aroma. The use of metalized films in food packaging extends the shelf life of the items, resulting in less food waste. Restraints- Raw materials account for the majority of the costs associated with producing metalized flexible packaging. The metalized flexible packaging polymers are sourced from petroleum. The pressure on input costs is projected to fluctuate due to the unpredictable trend in crude oil and demand for polymers for various uses.
Manufacturers' profitability may be impacted by shifting raw material prices, limiting the growth of metalized flexible packaging. Manufacturers have been driven to produce new packaging choices as a result of dynamic industry changes, such as the introduction of new regulatory measures. Concerns about the usage of biodegradable metalized flexible packaging and its impact on the environment have prompted producers to develop safe and secure sustainable packaging options. Government rules, shifting consumer tastes, and environmental concerns have all contributed to the current state of affairs. Manufacturers are focusing their efforts on manufacturing recyclable and environmentally friendly products. Coloplast Metalized Products Limited (Canada), for example, has created several environmentally friendly products, including Post-Consumer Recycled Metalized Polyester and High Barrier Metalized PLA Compostable Film.
Key Developments
- In June 2019, Amcor has finalized the acquisition of Bemis Company Inc (Bemis), a flexible packaging product manufacturer based in the United States. With a global base, size in every region, and industry-leading R&D capabilities, this strategic combination positions Amcor as the global leader in consumer packaging.
- Nov 23, 2021, Cosmo Films Ltd. Launched its new product named as Enhanced Barrier Metalized BOPP Film is in the market. The new film is specially innovated for applications such as flexible packaging for lamination, snacks, packaging of biscuits, and bakery products.
Key Players
The major players in the market are Amcor Limited, Mondi Group, Sealed Air Corp, Sonoco Products Company, Polyplex Corporation Limited, Huhtamaki, Transcontinental Inc, Cosmo Films Ltd., and Kendall Packaging Corporation.
Verified Market Research has segmented the Global Metalized Flexible Packaging Market On the basis of Material Type, Packaging Type, End-Use Industry, and Geography.
- Metalized Flexible Packaging Market, By Material Type
- Aluminum
- Chromium
- Nickel
- Metalized Flexible Packaging Market, By Packaging Type
- Pouches
- Bags
- Roll stock
- Wraps
- Metalized Flexible Packaging Market, By End-Use Industry
- Food and Beverage
- Pharmaceutical
- Personal Care
- Pet Food
- Others (Agricultural)
- Metalized Flexible Packaging Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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