The economic viability of flexible packaging systems has aided market growth in Australia. Products that offer health and wellness or convenience are mostly preferred by consumers. Flexible packaging offers customization solutions as per demand. Flexible packaging is the most effective for the protection and preservation of products. Technological advancements and innovations in the flexible packaging industry are broadening packaging options. Australia is considered a highly developed country. Manufacturers are focusing on reducing costs, improving efficiency, and improving product quality through the implementation of the use of flexible packaging solutions for their products. E-commerce trade has led to drastic changes in the packaging industry. The main reasons for manufacturers adopting flexible packaging solutions are faster and safer product deliveries. The uniqueness of products’ packaging will become a major feature of best-selling products, and strengthening packaging innovation is also an important task for packaging companies. According to the research report, "Australia Flexible Packaging Market Overview, 2027," published by Bonafide Research, the flexible packaging market is anticipated to grow at a CAGR of more than 6% in terms of value during the forecast period. The developing economy and productivity of the country play a major role in the growth of the flexible packaging market. The import and export activities of the country also require an efficient packaging system that protects the products from damage, heat, moisture, and other factors. Manufacturers have elevated environmental protection to a strategic level and implemented various measures for the recycling of various packaging materials. The non-availability of resins in Australia makes it dependent on other countries like China and other Asian markets that increase the raw material costs. The suppliers are often small- to medium-sized regional players, and the high competitiveness in the market lowers the bargaining power. The market players are small to medium-sized businesses that cater mostly to regional demands. A lack of significant capacity additions by global and regional players would continue to result in high growth in imports of flexible packaging products in Australia.
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According to the report, based on material type, the market is segmented into plastic, paper, aluminium foil, and other materials. Plastic is the most preferred material in the flexible packaging market. The plastics segment covers the highest market share in Australia. The growth rate of the plastic segment is anticipated to increase rapidly during the forecast period. The major factor driving the growth of the plastic segment in Australia is the demand for single-serve and portable food packs due to lifestyle changes. The growth of e-commerce and improved logistics processes are other factors for the growth of the plastic segment. The aluminium foil segment is also registering potential growth in the flexible packaging market. Due to its versatility and multiple uses, aluminium foil turns out to be one of the most consumed materials across the country. Based on the application, the market is segmented into food, beverage, pharmaceuticals, personal care, and others. The food industry is the largest user of flexible packaging in Australia. Because of their hectic lifestyles, consumers are opting for food products offered in convenient packaging formats in Australia; this trend is playing a major role in the growth of flexible packaging in the food sector. The pharmaceutical sector is also growing in the flexible packaging market because of the need to protect, preserve, and store various pharmaceutical products and transport them to end users. Based on the packaging type, the market is segmented into bags, wraps, pouches, and others. The pouch segment is leading the market for flexible packaging in the country. The ability of pouches, particularly stand-up types, to boost shelf appeal and improve product differentiation is remarkable. COVID-19 Impact: The spread of the COVID-19 pandemic is an unprecedented health crisis across the globe that has impacted nearly every business. The COVID-19 impacted the supply chain of products in the world due to restricted trade. The rising demand from end-use industries such as food and pharmaceuticals has increased the growth of the flexible packaging market. The need for safe and effective packaging solutions has led to the high demand for flexible packaging. Considered in this report • Geography: Australia • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Australia Flexible Packaging market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation
Types of Material in the report: • Plastic • Paper • Aluminum Foil • Others By End-Use in the report: • Food • Beverages • Pharmaceuticals • Personal care • Others Types of Packaging in the report: • Bags • Wraps • Pouches • Others
The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to flexible packaging industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.