ASEAN Flexible Packaging Market

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2. ASEAN FLEXIBLE PACKAGING MARKET ANALYSIS • 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), By Layer Type (Mono Layer, Multi-Layer (Two Layers, Three Layers, Five Layers, Seven Layers, Others), By Material Type (Polyethylene (PE), Polypropylene (PP) (BOPP, COPP, OPP)), Nylon, Polystyrene (PS), Others), and By Region (Indonesia, Thailand, Malaysia, Philippines, Vietnam, Myanmar) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Definition of Market/Industry: • 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 are pharmaceuticals, food and beverages, homecare and toiletries, cosmetic and personal care, and sports goods. • Statistics: • The ASEAN flexible packaging market is estimated to account for US$ 5,146 Mn in terms of value and 1,039 kilo tons in terms of volume by the end of 2019. • Drivers: • Driver 1 • Growing awareness regarding 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 • Growth in the food &beverage industry in the ASEAN countries due to increasing consumer spending is primarily fueling the market growth of ASEAN flexible packaging. The growing population coupled with the increasing population is again propelling demand for food. 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.

4. Statistics: Indonesia dominated the ASEAN flexible packaging market in 2019, accounting for 33.8% share in terms of value, followed by Thailand and Malaysia, respectively. Figure 1. ASEAN Flexible Packaging Market, Revenue Share (%), By Country, 2019

5. 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 which is further projected 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.

7. Market Opportunities: Figure 2. ASEAN Flexible Packaging Market – Opportunity Analysis Opportunity 1 Growth in the urban population in ASEAN countries due coupled with changing lifestyle of the consumers is expected to provide lucrative opportunities for the market for flexible packaging. Growing consumption of meat and shifting consumers preferences towards fresh meat packages are also expected to augment the market growth. All these factors are projected to propel the market growth of the ASEAN flexible packaging.

8. Figure 3. ASEAN Flexible Packaging Market, Revenue Share (%), By End-use, in 2019 Opportunity 2 Various manufacturers are introducing specialty packaging films in different shapes and sizes are projected to offer potential opportunities for the market for flexible packaging. The various manufacturers are also introducing flexible packaging by using seven and nine layers of co-extrusion lines in order to offer more feasibility in terms of thickness and structure with a cost-effective solution as compared to other packaging materials.

9. By end-use, ASEAN flexible packaging market is dominated by food & beverage segment, which was valued at US$ 3,377 Mn in 2019 and is forecast to reach a value of US$ 5,095.5 by 2025 at a CAGR of 5.1% between 2020 and 2027. • Market Trends/Key Takeaways: • Trend 1 • Attractive flexible packaging solution is a trendy concept in the market in order to attract more consumers and increasing 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 and in order to meet the evolving packaging, the trend is expected to foster market growth. For instance, in April 2019, Amcor has 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.

10. ASEAN Flexible Packaging Market - Impact of Coronavirus (Covid-19) Pandemic: • The COVID-19 pandemic has affected all the industries including automotive, chemicals, logistics, and oil & gas among others. It has a severe impact on packaging industry as well. Measures such as lockdown, and cease in the economic activities has reduced the discretionary spending of a consumer, which has in turn impacted the sales of luxury goods, chemicals, apparel and other non-essential goods. These factors have hampered the demand for flexible packaging in the ASEAN regions. However, demand for flexible packaging in the ASEAN countries is expected to witness surge in demand once the situation starts to normalize. • Competitive Section: • Company Names  • Amcor Limited • Prepack Thailand Co., Ltd. • Berry Plastics • Mondi Group • Sealed Air Corporation • Sonoco Products Company • Constantia Flexibles Gmbh • AR Packaging Group

11. Few Recent Developments: • In August 2018, Bemis Company, Inc. has agreed to combine with Australian packaging company Amcor Limited in an all-stock deal that values Bemis at approximately $6.8 billion.

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