The ASEAN flexible packaging market finds opportunities in the burgeoning e-commerce sector
SWOT Analysis
Strength: The ASEAN region has emerging economies with growing middle-class population and rising disposable incomes which is increasing consumer spending and demand for packaged food and other consumer goods.
Weakness: High dependency on raw material imports make the flexible packaging industry vulnerable to price volatility of key inputs like plastic resins and paper.
Opportunity: Rising e-commerce sector is opening up opportunities for innovative flexible packaging solutions for product protection and promotion during shipping and delivery. There is also a scope to increase adoption of advanced printing and coating technologies.
Threats: Strict regulations regarding the use of plastics and imposition of bans on certain single-use plastic items pose threats. Increasing preference for non-plastic and eco-friendly packaging options can also threaten some flexible plastic packaging product segments.
Key Takeaways
Market size: The ASEAN Flexible Packaging Market Growth Size was valued at US$ 5138.98 Mn in 2023. The market is expected to witness high growth, exhibiting a CAGR of 4.5% over the forecast period of 2023-2030. The growth can be attributed to increasing consumption of packaged food and consumer goods in the region.
Regional analysis: Indonesia and Thailand are currently the largest markets for flexible packaging in ASEAN. Indonesia dominates the market with over 20% share owing to the huge population size and rapid growth of the food processing industry. Thailand also has a significant share due to well-established food and pharmaceutical sectors. However, Vietnam is projected to grow at the fastest pace during the forecast period supported by economic development and increasing foreign investments.
Key players: Key players operating in the ASEAN flexible packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. These players are focusing on capacity expansions, acquisitions and new product launches to strengthen their presence and adapt to evolving market trends. For instance, Amcor launched new high-barrier films for food and pharma applications.
Read More - https://www.articledistrict.com/asean-flexible-packaging-market-connected-with-growth-in-e-commerce/
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