Market Research Report
GCC Flexible Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|GCC Flexible Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: May 20, 2021
IMARC Services Private Limited
Delivery time: 2-3 business days
The GCC flexible packaging market size reached US$ 2.86 Billion in 2020. Looking forward, IMARC Group expects the market exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Flexible packaging refers to any package that is made up of flexible and easy yielding materials that has no rigid structure of its own (such as hard plastics), but actually conforms - and follows the contours of - the product that is enclosed within it. Flexible packaging may include bags, pouches, liners, plastic, film, aluminum foil, metalized or coated paper or film, or any combination of these materials. Flexible packaging currently represents the fastest growing segment of the packaging industry and is used for consumer and institutional products and in industrial applications, to protect, market, and distribute a vast array of products.
The market for flexible packaging is currently exhibiting strong growth in the GCC region largely driven by a continuous growth in its end use sectors such as food, retail, consumer goods, pharmaceuticals, etc. Catalyzed by rising levels of urbanization, changing dietary habits, large expatriate population and increasing penetration of organized retail formats such as hypermarkets and supermarkets, the processed and packaged food market in the GCC region is currently exhibiting strong growth. Moreover, driven by economic growth and rising personnel disposable incomes, the retail and consumer goods market in the region is also experiencing strong growth. Additionally, the rising prevalence of various chronic and acute diseases coupled with increasing geriatric population is driving the demand of pharmaceuticals in the region.
Flexible packaging offers numerous advantages over rigid packaging. It helps in extending the shelf life of various products, particularly food, and has a positive sustainability profile. Flexible packaging also requires lower energy to produce and to transport, and generates lower quantities of greenhouse gases. Additionally, it also offers convenience to consumers as it is light-weight, easy to open, carry, store, and reseal. All the major traditional benefits of rigid packaging can be realized from flexible packaging with the added advantages of lower cost and greater flexibility.
13.3.9 Saudi Printing & Packaging Co.