Global converted flexible packaging market forecast to reach 18.78 mln tons by 2015
Global converted flexible packaging market is forecast to reach 18.78 mln metric tons in terms of volume translating into US$70.15 bln in value terms by the year 2015, propelled by rising demand from consumer goods, food and beverage industries in developing economies; as per Global Industry Analysts, Inc. Product differentiation, development and innovation continue to reign as key growth drivers for the industry.
The global plastic film and sheets market is forecast to reach 56.6 mln tons by 2017, mainly driven by burgeoning demand from end-use markets, competitive advantages over traditional paper and foil, and technological advancements, as per Global Industry Analysts, Inc. Changing consumer dynamics particularly in the food and non-food packaging industries, economic recovery, and growing prominence of developing Asian, Middle East and Latin American markets will further accelerate the pace of development.