all report title image
  • Published On : Oct 2022
  • Code : CMI3987
  • Industry : Packaging
  • Pages : 120
  • Formats :

ASEAN Flexible packaging maintains the product freshness by increasing their shelf-life and are ideal packaging materials during transportation. They are produced from materials such as polyethylene, nylon, polystyrene, and polypropylene. Some of the major end user of flexible packaging include pharmaceuticals, food and beverages, homecare and toiletries, cosmetic and personal care, and sports goods.

ASEAN flexible packaging market is estimated to account for US$ 5138.98 Mn, in terms of value by the end of 2021.

Drivers

Driver 1

Growing awareness about flexible packaging as a high-performance packaging solution is expected to foster the market growth of flexible packaging. The advent of flexible packaging with modified atmosphere packaging (MAP) properties that offer a high level of permeability for an atmosphere that helps in modifying the internal environment of the packages is expected to fuel the market growth of the ASEAN flexible packaging.

Driver 2

Growing food & beverage industry in the ASEAN countries due to increasing consumer spending is fueling the market growth of ASEAN flexible packaging. The growing population, coupled with the increasing population is propelling demand for food and this is expected to drive the market growth. Moreover, rising demand for convenience food due to busy lifestyle of consumers is another major factor projected to augment the market growth of ASEAN flexible packaging.

Advancement in the inspection technologies by major players is expected to favor the market growth of the ASEAN flexible packaging. For instance, in April 2019, Amcor launched AmLite Ultra Recyclable. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams.

ASEAN flexible packaging impact in the recent months owing to the lockdowns imposed globally to curb the spread of COVID-19. This resulted in the increased demand for the solutions in the global flexible packaging market. Furthermore, during the pandemic, pharmaceutical industry also contributed to the robust demand for innovative and safe solutions offered by the players and manufacturers in the global flexible packaging market. Rising demand for household essentials, medical goods, and healthcare products is also expected to foster the growth of the global flexible packaging market in coming years. Moreover, increased demand for products in the global flexible packaging market for timely delivery of finished goods as well as raw materials is also expected to favor the industry growth over the forecast period.

Figure 1. Global ASEAN Flexible Packaging Market Value Share (%), By Country, 2021

ASEAN Flexible Packaging  | Coherent Market Insights

Market Restraints

Restraint 1

Flexible packaging is comprised of thin layers that are unable to provide proper physical protection to the products. Moreover, liquid packaged products require gentle handling as they get easily punctured and this is further expected to hinder the market growth of the flexible packaging.

Restraint 2

The volatile price of raw materials used in the manufacturing of flexible packaging due to the unstable price of crude oil is expected to hamper market growth.

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ASEAN Flexible Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 5138.98 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 4.5% Forecast Period: 2022-2030
Geographies covered:
  • Indonesia, Thailand, Malaysia, Philippines, Vietnam, and Myanmar
Segments covered:
  • By Product Type: Pouches, Bags, Films and Roll stocks, and Others
  • By Layer Type: Mono-layer and Multi-layer
  • By Material Type: Polyethylene, Polypropylene, Nylon, Polystyrene, and Others
  • By End-use: Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Homecare & Toiletries, Sports Goods, and Others
Companies covered:

Amcor Limited,  Prepack Thailand Co., Ltd., Berry Plastics,  Mondi Group,  Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group

Growth Drivers:
  • Growing awareness about flexible packaging as a high-performance packaging solution
  • Increasing demand for food packaging
Restraints & Challenges:
  • Volatile prices of raw materials 

Market Trends

Trend 1

Attractive flexible packaging solution is a trendy concept in the market, in order to attract more consumers to increase consumer base. Increasing disposable income, coupled with the improving standard of living across developing countries of ASEAN region is further propelling demand for advanced and convenient packaging solutions. All these factors are augmenting the market growth of the ASEAN flexible packaging.

Trend 2

Major players are introducing different types and size of flexible packaging such as high-temperature retort pouch, vacuum pouch, and stand-up pouches, in order to meet the evolving packaging, and this trend is expected to fuel the market growth. For instance, in April 2019, Amcor launched AmLite Ultra Recyclable. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams.

Figure 2. Global ASEAN Flexible Packaging Market Analysis Revenue Share (%), By End-use in 2021

ASEAN Flexible Packaging  | Coherent Market Insights

By end-use, ASEAN flexible packaging market is dominated by food & beverage segment, which was valued at US$ 5138.98 Mn in 2021 and is forecast to reach a value of US$ 7617.25 Mn by 2030 at a CAGR of  4.5% between 2021 and 2030

Flexible packaging is any package or any part of a package whose shape can be readily changed. They are produced from materials such as polyethylene, nylon, polystyrene, and polypropylene. There are different types of flexible packaging including pouches, bags, carded, and sleeves packaging among others.

Market Dynamics

  • On the basis of industry, ASEAN flexible packaging market is segmented into food & beverages, pharmaceuticals, cosmetics & personal care, homecare & toiletries, sports goods among others. Wherein, food & beverages segment accounted for the largest market share in terms of the revenue in 2019, and contributed for 65.6% market share in the same year.
  • On the basis of country, Indonesia accounted for the largest revenue share in 2019 and contributed for the revenue share of 33.8% in 2019. The growth is majorly driven by the continuous increase in population, coupled with rising demand for fresh food. Besides, flexible packaging is gaining market share from rigid packaging due to its adaptability and low storage requirements.

Key features of the study:

  • This report provides in-depth analysis of flexible packaging and provides market size (US$ Million and Kilo Tons) and cumulative annual growth rate (CAGR %) for the forecast period (2022 – 2030), considering 2021 the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the ASEAN flexible packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, technology up gradation, market expansion, and marketing tactics
  • The ASEAN flexible packaging market report caters to various stakeholders in this industry including investors, suppliers, Flexible packaging manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the ASEAN flexible packaging market

Detailed Segmentation:

  • ASEAN Flexible Packaging Market, By Product type:
    • Pouches
    • Stand-up Pouches
    • Vacuum Pouches
    • Retort Pouches
    • Bags
    • Gusseted Bags
    • Wicketed Bags
    • Films and Roll stocks
    • Others
  • ASEAN Flexible Packaging Market, By Layer Type:
    • Mono Layer
    • Multi-Layer
    • Two Layers
    • Three Layers
    • Five Layers
    • Seven Layers
    • Others
  • ASEAN Flexible Packaging Market, By Material Type:
    • Polyethylene (PE)
    • Polypropylene (PP)
    • BOPP
    • COPP
    • OPP
    • Nylon
    • Polystyrene (PS)
    • Others
  • ASEAN Flexible Packaging Market, By End-use:
    • Food and Beverages
    • Pharmaceuticals
    • Cosmetic and Personal Care
    • Homecare and Toiletries
    • Sports Goods
    • Others
  • ASEAN Flexible Packaging Market, By Geography:
    • Indonesia
    • Thailand
    • Malaysia
    • Philippines
    • Vietnam
    • Myanmar
  • Company Profiles
    • Amcor Limited *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Prepack Thailand Co., Ltd.
    • Berry Plastics
    • Mondi Group
    • Sealed Air Corporation
    • Sonoco Products Company
    • Constantia Flexibles Gmbh
    • AR Packaging Group

Frequently Asked Questions

Global ASEAN flexible packaging market was valued at around US$ 5138.98 Million in 2021.
Continuous increasing population driving demand for packaged food in the ASEAN countries and flexibility to suit multiple shapes and sizes, convenience (zip-locks, plastic closures) are expected to propel growth of the market 
Foods with high liquid content, such as soups, juices, are being transitioned from rigid packaging to flexible packaging. 
Stringent regulatory hurdle associated with the use of plastic products might hamper the growth of flexible packaging in ASEAN countries.
Major players operating in the market include Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group.
The market is estimated to exhibit a CAGR of 4.5% in the forecast period (2022-2030).

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