ASIA – With a spotlight on food safety, the global flexible packaging market is expected to significantly grow, fuelled especially by soaring demand in Asia-Pacific’s packaging market.
The global market for consumer flexible packaging is estimated to be worth US$91.7 billion in 2015, and is forecast to grow at an annual average rate of 4.4% during the period 2015–2020, reaching US$114 billion by 2020. Amongst all regions, Asia Pacific accounts for the highest demand, with a continuous growth supported by the development of various industries, such as food & beverages, personal care and pharmaceuticals, and increasing acceptance of ‘supermarket culture’.
The rise of a middle class that possess a stronger desire for safe food containers and quality products with a growing focus on convenience and sustainability, also has a positive impact on the development. Among all these industries and growing needs, food is projected to account for almost three-quarters of global consumer flexible packaging consumption in 2015.
For Henkel Adhesive Technologies, this presents great opportunities, and the adhesives, sealants and functional coatings solution provider has been implementing a series of initiatives, including a recently held Innovation & Food Safety in flexible packaging seminar in Thailand, and flexible laminates technical forum in Indonesia, to present its technological advancements and innovative breakthroughs which will help support local industry…. For the full story, subscribe to Packaging Business Insight Asia here.