According to the latest market research study released by Technavio, the flexible packaging market in China is expected to reach $12bn by 2020, growing at a CAGR of almost 8% during the forecast period.
This research report titled 'Flexible Packaging Market in China 2015-2019', provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.
The report segments the flexible packaging market in China by end-user application and can be divided into three broad categories:
Flexible packaging market in China for food and beverages
Flexible packaging market in China for pharmaceuticals
Flexible packaging market in China for other end-user applications
Flexible packaging market in China for food and beverages
The flexible packaging market in China for food and beverage segment is expected to grow rapidly during the forecast period and will exceed USD 5 billion by 2019, growing at a CAGR of over 8%. This growth can be attributed to growing population, rise in purchasing power, and increased health awareness among consumers.
Vendors in the market are increasingly using flexible packaging materials such as polyethylene and low-density polyethylene films for the packaging of low-calorie and high-protein food products. Increased demand for dairy and confectionery products is also propelling market growth.
"In addition, the growing number of working mothers, desire for convenience, and development of multinational food retailers in the region is helping to drive the growth of packaged food consumption," says Sriram Mohan, a lead research analyst at Technavio for the packaging industry.
Flexible packaging market in China for pharmaceuticals
The flexible packaging market in China for pharmaceuticals segment is expected to post the highest growth and is expected to exceed USD 3 billion by 2019, growing at a CAGR of over 10%.
There is high demand for flexible packaging products in the healthcare industry because of the introduction of new applications such as unit-dose sachets. One of the major factors for the growth of the market is growing health awareness among the general public, an increase in disposable income, and a rise in the number of chronic diseases.
"In addition, initiatives by the pharmaceutical industry for maintenance of hygiene and preservation of medical properties of drugs are other factors which are expected to boost the flexible packaging market for pharmaceuticals during the forecast period," says Sriram.
Flexible packaging market in China for other end-user applications
The flexible packaging market in China for other end users segment is expected to grow steadily at a CAGR of around 4% to reach close to USD 3 billion.
This segment of the market caters to manufacturers of retail non-food, cosmetics, and personal care products. Growing awareness about personal grooming is fueling the growth of the cosmetics industry. There is increased demand for flexible packaging in the cosmetics industry because of the introduction of different types of applications such as unit-dose sachets, disposable bags, peel-open pouches, and stand-up pouches, which are easy to open and convenient to use.
Manufacturers are focusing on innovative designs, colors, and sustainable packaging to achieve brand differentiation. There is a growing preference for bioplastics for the packaging of cosmetics because they provide more flexibility, versatility, and decompose easily.
Technavio analysts highlight the following five vendors as the top contributors to the flexible packaging market in China:
Amcor Flexibles China
FlexPAC
ND Paper
Shandong Lipeng
Shanghai Zijiang
