The market for flexible packaging in Association of Southeast Asian Nations (ASEAN) has been analyzed in great details in the report with a comprehensive forecast regarding the potential growth prospects of key segments and regional markets over the period between 2016 and 2024. The market has expanded at a steady pace in the past few years and is expected to continue to register a strong CAGR over the report’s forecast period as well. The market has earned itself a prime spot in the region’s overall packaging industry and currently holds nearly 50% of the overall packaging industry.
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The report presents a detailed evaluation of the market and its growth prospects, performance in terms of revenue, and an overview of the key challenges, trends, drivers, and restrictions in the form of regulations affecting the overall development of the market presently and the potential impact of these factors on the market in the next few years. The report also includes vast qualitative as well as quantitative data regarding past and present product consumption patterns.
ASEAN Flexible Packaging Market: Trends and opportunities
A number of factors are working in favor of the ASEAN flexible packaging market, including the thriving food and beverages and retail industries. The market has also majorly benefitted in the recent years owing to the vast rise in population, rising disposable incomes, and a healthy expansion of several industries in the region.
With the rise in manufacturers of a variety of goods, ranging from food and beverages, medicines, medicinal devices, personal care products, cosmetics, sports products, and homecare products, the demand for effective, safe, and cheap packaging technologies has also soared. Vast benefits of flexible packaging in all these areas, possibility of incorporating various materials, advanced designs, and easy use make flexible packaging the most preferred packaging technology in the region.
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ASEAN Flexible Packaging Market: Key Segments
The report segments the ASEAN flexible packaging market on the basis of criteria such as product type, layer type, material type, end use, and region. On the basis of product type, the market has been segmented tin pouches, bags, and films and rollstocks. The segment of pouches is further examined for varieties such as vacuum pouches, stand-up pouches, and retort pouches. The segment of bags is further examined for segments such as wicketed bags and gusseted bags.
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