LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global LDPE packaging market to grow at a CAGR of almost 6% during the forecast period, according to their latest reports.
The research study covers the present scenario and growth prospects of the global LDPE packaging market for 2017-2021. LDPE packaging refers to the packaging of products using various packaging materials. These materials are manufactured using LDPE polymer resins. LDPE packaging is lightweight.
The market is expected to witness a substantial year-over-year growth during the forecast period because of the growth of the packaging industry at a global level. Moreover, the flexible packaging market will grow at a higher rate compared with rigid packaging, by registering a CAGR of around 5% during the forecast period. As LDPE packaging is generally used for flexible packaging, vendors will focus on increasing its use in film packaging.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global LDPE packaging market:
- Growth in demand for stretch and shrink film packaging
- Increased demand for convenience packaging
- Increased demand for lightweight packaging
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Growth in demand for stretch and shrink film packaging
Stretch and shrink-packaging films are made up of highly engineered polyethylene films (PE) used for the packaging of goods. These packaging films possess chemical properties, such as stretchability and flexibility. Stretch films and shrink films are thin and elastic films used to wrap a product or commodity.
Sharan Raj, a lead packaging research analyst at Technavio, says, "LDPE packaging products have lower density and higher flexibility, which drives the vendors to use LDPE packaging for manufacturing stretch and shrink film packaging. The global stretch and shrink film market is expected to witness a growth rate of around 6% during the forecast period."
Increased demand for convenience packaging
With the growing demand for global packaged food sales, the vendors are differentiating their products with innovative and new packaging solutions to attract more customers. Hence, there is a growing demand for convenient packaging solution products, such as peel-off lids, zippers, pouches, and pouring spouts, especially from the food and beverage industry.
"Many other industries, such as lubricants, also use convenient packaging solutions that are easy to carry, open, and store. This increase in demand for convenient packaging is driving the growth of the flexible packaging market. LDPE packaging, being tough, flexible, and resistant to acids, bases, and vegetable oils is a better packaging material for convenient packaging solutions for products of the food and beverage and lubricants industries," adds Sharan.
Increased demand for lightweight packaging
The packaging of pharma products is a complex process, as it requires special attention and care, with variations in packaging requirement depending on the product specifications. The most widely used forms of packaging in the pharmaceutical industry are caps and closure packaging and blister packaging.
Caps and closures are used in child-resistant packaging of OTC drugs. Blister packaging reduces the cost by almost 10% and increases the safety feature as it is a way by which child-resistant packaging can be done for the pharmaceutical industry.
Top vendors:
- Amcor
- Bemis
- Berry Plastics
- Huhtamaki Group
- Sealed Air
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