Metallized Flexible Packaging Market is expected to reach US$ 62.8 Bn With CAGR of 4.4% by the end of 2032
WILMINGTON, DELAWARE , USA, June 17, 2022 /EINPresswire.com/ — The value of the global metallized flexible packaging market was clocked at US$ 4.1 Bn in 2021. The market is estimated to develop at a CAGR of 4.4% during the forecast period, from 2022 to 2032. The global metallized flexible packaging market is anticipated to attain value of US$ 62.8 Bn by 2032. A rise in demand for adequate food packaging, as well as customers’ increasingly stressful lifestyles, are likely to drive sales of metallized flexible packaging. Metallic flexible packaging has several advantages, including the ability to extend product life and eliminate the usage of preservatives. The food and beverage business has been reported to prefer lightweight as well as easy packaging styles over traditional packaging designs. Metallized flexible packaging is lighter than rigid packaging and does not require the use of extra materials such as glass, which adds to the package’s weight. Other packaging causes the interior product to lose moisture, affecting the quality as well as texture of food and medicinal products.
Metallized films of various types are used in flexible packaging. The high barrier and protection properties along with aesthetics makes these highly attractive for packaging manufacturers especially in the food and beverages industries. Broadly, range of PET films metallized with aluminum and aluminum foils have gained traction in use in range of packaging industries including construction, pet food, pharmaceutical, and cosmetics.
Some of the key product types are biaxially oriented polyethylene terephthalate (BOPET) films, cast polypropylene (CPP) films, and biaxially oriented polypropylene (BOPP) films.
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Key Drivers and Growth Factors:
Strides made in food processing industries have spurred the use of different types of flexible packaging. The focus on extending shelf life food products has led food producers to adopt metallized flexible packaging that acts as a robust barrier against oxygen and moisture. Adopting flexible packaging that enables food brands to protect the contents against vapor and prevent aroma loss in acidic and alkaline food products is boosting the market. Further, food brands are increasingly adopting materials that maintain good hygiene characteristics fueled technological advancements in the metallized flexible packaging market.
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Another key driver is burgeoning e-commerce sales of cosmetics and personal care products in developing and developed economies. The rapid pace of urbanization in emerging economies and changing consumer preferences in shopping have favored the demand for personal care product among all demographics. Manufacturers in the metallized flexible packaging industry are keen on offering flexible packaging that meet a wide cross-section of demand in these end-use industries. Growing demand for metallized films for flexible packaging in industrial applications has also increased opportunities for players in the metallized flexible packaging market.
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Europe is a highly lucrative market. The demand has been fueled by spectacular strides in the food services industry. Food manufacturers have been early adopters of innovative composite materials to meet their end-use functional characteristics. Further, the region has a marked presence of some of the globally prominent flexible manufacturers. North America and Asia Pacific are expected to offer incremental opportunities to players in the global metallized flexible packaging market. Other key regional markets are expected to be South America and the Middle East and Africa.
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