This year, there are several major trends in packaging, including sustainable paper packaging. There is a growing demand for flexible green packaging, with the market expected to grow from $223.3 billion in 2021 to $317.6 billion by 2027. In addition, there are several new sustainable packaging options on the market. Read on to find out more about these trends.
Demand for flexible green packaging set to increase from $223.3 billion in 2021 to $317.6 billion in 2027
The market for flexible green packaging is largely dominated by paper and other natural materials, including wood and plastic. These materials are largely used in packaging and are expected to grow from $223.3 billion in 2021 to over $317 billion in 2027. The paper and plastic materials market will grow at the fastest rate, accounting for over 90% of the total market. However, despite the rapid growth of this segment, it will be limited by environmental factors, such as the lack of bioplastic implementation and a weak supply chain.
The market for flexible green packaging is currently dominated by food and beverages applications, accounting for the largest market share in 2021. These products provide convenience in transportation, storage, and disposal, and are expected to see significant growth throughout the forecast period. The increasing consumption of snacks and the expansion of the food retail sector in emerging markets are driving the demand for flexible packaging. Key companies in the flexible packaging industry are focusing on recycled materials and customized packaging solutions. Other strategies include expansion of production capacity, mergers and acquisitions, and new product development.
North America is also expected to be a key player in the flexible green packaging market. The region has aggressive recycling efforts, with Canada having a significant ban on polystyrene containers in Vancouver in 2019 and plans to reduce solid waste by 2040. These government efforts are complementing the consumer demand for environmentally friendly products and packaging.
Challenges of real-time authentication in packaging
Real-time authentication in packaging is a vital component of supply chain security. It can help detect diverted shipments and prevent counterfeiting. It can also be used to improve visibility and traceability of products. Ultimately, smart packaging can help companies comply with government regulations and health care reforms.
However, real-time authentication in packaging has some challenges, including the high cost and complexity of mass production. Furthermore, smart packaging requires the integration of remote-reading chips in products and in home appliances. The integration of smart packaging into supply chains is complex, so the industry needs to bring experts from different fields to define a systematic approach for implementation.
New sustainable packaging options
Toward a sustainable future, companies are looking to a variety of new methods of packaging. Several new innovations are being developed, including new biodegradable packaging and compostable products. At K 2022 in Dusseldorf, BOBST will debut its oneBARRIER family of sustainable solutions, which have the potential to change the industry. One such example is the oneBARRIER PrimeCycle, which is made from EVOH-free polymer and has excellent barrier qualities.
Cornstarch, which is produced from the corn plant, is an environmentally friendly alternative to petroleum-based packaging. However, it has drawbacks, including the fact that it competes with the world’s food supply. Moreover, cornstarch may endanger the health of people and animals. As such, it’s important to use packaging alternatives that are sourced from renewable sources. Biodegradable packaging is one such option, which is expected to grow in popularity by 2022.
Retailers like Walmart are already promoting the benefits of sustainable packaging to other companies. In April, Walmart launched the Circular Connector, an online platform that connects companies seeking sustainable packaging. It has since received more than 100 submissions from innovators. The goal is to help bridge the gap between companies seeking sustainable packaging and the people who provide it.
Trends in flexible packaging
The market for flexible packaging is growing, as more companies move to eco-friendly options. It is becoming the new standard for packaging products, reducing food waste and improving shelf life. Companies are using a variety of flexible packaging solutions, including biodegradable packaging and starch-based materials.
The food industry is driving the growth of flexible packaging, as increased consumer awareness fuels the growth of the industry. In addition to food and beverage applications, the pharmaceutical and nutraceutical sectors are boosting demand for flexible packaging. The industry will also be impacted by increasing consumer interest in sustainability, as more companies are moving towards sustainable packaging options.
The Flexible Packaging market is segmented by type and region. The report contains in-depth analysis of different market segments and their growth prospects. It also includes a competitive landscape analysis.