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Description
The global flexible packaging paper market valued US 25.0 Bn in 2020 and is poised to grow with a CAGR of 2.4% over 2021-2027. Some of the key factors fueling the market growth include increasing acceptance of ecofriendly packaging products, improving worldwide manufacturing activities, convenience and use of high-performance material, increasing population together with growing disposable income and rising demand from end-users. However, high initial capital investments, strict regulations and recyclability are some factors hindering the market growth. In addition, growing concerns related to disposal of plastic waste provides huge growth opportunities for market. Kraft Paper accounted for larger revenue share in global flexible packaging paper market with a CAGR of 2.3% and is expected to grow over the forecast years due to the development of innovative products. For instance, Mondi launched products such as Aqua liners and kraft top liners in the uncoated kraft paper segment. These products offer water-resistance and sustainability properties. Global flexible packaging paper market is surging owing to expansion of their production facilities for flexible packaging paper to meet the demands of the customers in the market. For instance, In May 2019, BillerudKorsnas acquired Bergvik Skog Ost. The acquisition of Bergvik Skog Ost is an important part of ensuring long-term competitive and thus has added another important piece of the puzzle to reach BillerudKorsnas full potential. In Mar 2018, DS Smith acquired EcoPack and EcoPaper. The acquisition significantly increases DS Smith’s capacity to serve customers in a high-growth region as well as supporting the company’s existing operations in Eastern Europe. In Jul 2019, International Paper sold Its India-based Printing Paper Business. Its a reflection of continued focus on growing global packaging and cellulose fibers businesses.
