Asia Pacific Flexible Packaging Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Asia Pacific Flexible Packaging Market is anticipated to grow with a CAGR of 2.76% during the forecast period. Flexible packaging across the Asia-Pacific region is expected to witness a stable growth rate for the forecast period. Some of the prominent vendors in the region are driving their focus toward the ever-growing concern regarding environmental sustainability by adopting efficient manufacturing techniques throughout the three stages of the packaging life cycle - manufacturing, transportation, and disposal process. There has been impact of the Russia-United Kingdomraine war on the overall packaging ecosystem.
Key HighlightsThe demand for flexible packaging is growing faster than in many other forms. It includes trends like e-commerce, digital printing, and sustainability that can be used to drive market development and growth. Customers are increasingly becoming more eager to pay extra for certain product attributes boosted by flexible packaging. Key Players in this Market are - Amcor PLC, Berry Global Inc., Mondi Group, Sonoco Products Company, etc.
In October 2022, Mondi and Reckitt introduced paper-based packaging for Finish dishwasher tabs. Once fully implemented, the new packaging would reduce plastic usage by 75% and eliminate more than 2,000 tonnes of plastic annually. Additionally, this action supports Reckitt's goal of halving the quantity of virgin plastic in its packaging by 2030.
In February 2022, By developing a brand-new reuse packaging concept, Henkel and Mondi, a worldwide pioneer in packaging and paper, are assisting consumers in dishwashing more responsibly. The two businesses collaborated on a packaging option to refill plastic bottles using flexible pouches for Henkel's hand dishwashing solutions. This helps Henkel achieve its sustainability goals of reducing virgin plastic made from fossil fuels by 50% by 2025 and making all its packaging recyclable or reusable.
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