Flexible Packaging Paper Market Regional Analysis:
APAC Market Statistics
Asia Pacific region is projected to account for more than 42.6% market share by 2035, driven by booming food and beverage industry and rising demand for packaged foods. For instance, in 2020, packaged food sales figures in China totaled over USD 288 billion. Rice, pasta & noodles, dairy, and savory snacks were the top packaged food categories in terms of sales value. Further, an upsurge in the disposable income of the populace, and rising investment in the packaging industry in several countries in the region are some other significant factors that are projected to expand the market growth further throughout the forecast period in the region. In addition to this, an increasing count of facilities for the production of flexible packaging paper, the availability of raw materials, and low-cost labor are also anticipated to boost the market growth in the region during the forecast period.
North American Market Forecast
Furthermore, the North American flexible packaging paper market, is also estimated to display notable market growth by the end of 2035. The growth of the market can be attributed to the growing research and development activities, followed by the escalating inclination of people toward cosmetics and rising disposable income. For instance, the cosmetics segment in the United States was estimated to reach approximately USD 18 billion in 2022. Furthermore, an escalating ratio of packaged food consumption, along with the higher count of government initiatives to promote sustainable packaging coupled with surging environmental concerns are also estimated to further boost the market growth in the region in the coming years in the region.
