High Demand Growth for Converted Flexible Packaging in Asia Pacific
The market for flexible packaging products in Asia Pacific is expected to grow by 6–6.5 percent over the next five years, with stand-up pouches being the most preferred converted flexible packaging format. Countries such as Thailand, Vietnam, Philippines, and Cambodia are growing economies attracting foreign investment; this has led to a strong regional supply base providing more opportunities for consumer goods companies to consider. Suppliers are operating at 80–85 percent capacity, which is expected to remain stable for the next one to two years. Therefore, there is no foreseeable supply constraint for flexible packaging products.
Demand Outlook for Flexible Packaging in Asia Pacific
There is a widespread trend in packaging to shift from rigid packaging formats to flexible packaging. This growth is primarily driven by the cost benefit and sustainability, along with growing innovations in this segment. Laminate films with high barrier properties ensure longer shelf life, while innovative closure systems assure safe, hygienic, and complete emptying of a pack’s contents. Being a cost-conscious consumer base, consumer goods brand owners can consider introducing cost-effective and sustainable solutions to the market. This will also help them align themselves with suppliers to achieve their sustainability goals. Many countries in Asia Pacific have adopted regulations to curb the use of single-use plastic bags; with growing concerns over environmental safety and recyclability of flexible packaging products, refill pouches may have a faster growth rate compared to spouted pouches.
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