Europe Flexible Packaging Market 2023 to 2028: High Focus on Sustainable & Flexible Packaging Presents Opportunities
February 23, 2023The Europe flexible packaging market is expected to grow at a CAGR of approximately 5.13% from 2022 to 2028. Due to the COVID-19 pandemic, the Europe flexible packaging market has witnessed a supply chain disruption due to a voluntary shutdown of authorities or factories enforcing lockdowns.
More than 70% of the demand for flexible packaging arises from the F&B industry. However, the rise in prices of luxury categories of F&B products is expected to be highly affected. In contrast, the daily-need or essential food & beverages products are expected to observe higher demand.
Moreover, post-covid, the market is again expected to regain its growth. Nowadays, consumers are shifting their preferences as they are expected to be price sensitive, inclined towards price and value brands, engage, maintain, and accelerate with online shopping, and focus more on health & hygiene.
Post-pandemic, the value chain is also adapted to digitization leading to a reduction in production & supply-chain risk. With digitization & real-time analytics & reporting, customers can track their supply chain more closely weekly compared to quarterly and annual reports. Thus, many companies are strategizing their plan and adapting to the change due to COVID-19.
Key Questions Answered:
- How big is the Europe flexible packaging market?
- What is the growth rate of the Europe flexible packaging market?
- What factors impact the growth of the Europe flexible packaging market?
- Which are the key players in the Europe flexible packaging market?
- Which country holds the most significant Europe flexible packaging market share?