CHINA – The flexible packaging market in China is expected to reach US$12 billion by 2020, growing at a CAGR of almost 8% during the forecast period.
The flexible packaging market in China for the food and beverage segment in particular is expected to grow rapidly during the forecast period and will exceed US$5 billion by 2019, growing at a CAGR of over 8%. According to the latest market research study by Technavio, this growth will be fuelled by growing population, rise in purchasing power, and increased health awareness among consumers.
Flexible packaging materials such as polyethylene and low-density polyethylene films are seeing increased use for the packaging of low-calorie and high-protein food products. Growing demand for dairy and confectionery products is also propelling market growth.
“In addition, the growing number of working mothers, desire for convenience, and development of multinational food retailers in the region is helping to drive the growth of packaged food consumption,” says Sriram Mohan, a lead research analyst at Technavio for the packaging industry.
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