Soft plastic packaging all the way warmer
Soft packaging increased to 114 billion US dollars into the darling of the food packaging industry. As the country with the largest consumption of flexible packaging, China's market consumption in 2015 reached 6.07 million tons. Asia is the largest consumer region, accounting for 40% of the global total. From 2015 to 2020, soft packaging consumption will increase at an average annual rate of 6.6%. India and China have the fastest growth in flexible packaging consumption. It is estimated that the average annual growth rate of the two countries will reach 9.4% and 6.9% respectively. Nearly 75% of the world's flexible packaging products are used in food packaging this year, of which meat, fish, and poultry are the most used food types, followed by candy and baked goods.
From 2010 to 2015, the consumption of food flexible packaging increased at an average annual rate of 4.0%, and the growth rate of beverage and pharmaceutical consumption followed. Over the past 10 years, flexible packaging has been one of the fastest growing categories in the packaging market. According to the Smithers Peel Institute, the demand for the global soft packaging market this year is 210 billion U.S. dollars, consumption is 26.2 million tons, and the market value is 91.7 billion U.S. dollars. It is estimated that in the next five years, the demand for flexible packaging will increase to 248 billion U.S. dollars at an average annual rate of 3%, consumption will increase to 3.17 million tons at an average annual rate of 3.8%, and the market value will increase at an annual average growth rate of 4.4%. Increased to 114 billion U.S. dollars.