Flexible Packaging Market Share

APAC Market Statistics

The Asia Pacific flexible packaging market is projected to hold the largest market share by the end of 2037. The growth of the market in the region can be accounted to the growing demand for food and beverages and increasing use of flexible packaging for drugs, followed by rising healthcare expenditure. For instance, in 2019, the health expenditure of China was estimated to hit nearly USD 500 per capita, while for India, it was estimated to be approximately USD 60 per capita. Such factors are estimated to hike the growth of the market during the forecast period. The increasing demand for ready-to-eat food is very high, as many people work around the clock with less time to cook. Additionally, the healthcare industry uses flexible packaging as it can withstand the sterilization process, which includes agents of ethylene oxide and gamma radiation. The easy-to-open feature of tamper evident stickers helps healthcare workers to slide or unzip the packages. Clear package printing is crucial in the medical sector to read the components, manufacturing, and expiration dates of the product. All these factors are estimated to drive market growth during the forecast period.