CLEVELAND (Oct. 17, 2 p.m. ET) — Demand for converted flexible packaging will grow 3.8 percent annually to reach $18.2 billion in 2015, according to a new market study.
Increases will be the result of source reduction efforts by retailers and packaged good firms. Pouches will be among the fastest growing flexible packaging products, with average annual growth of 4.6 percent. That's down, however, from the 5.5 percent annual growth rate that pouches saw from 2005-2010, according to the report, “Converted Flexible Packaging,” by Freedonia Group Inc.
Plastic bag demand will outpace paper due to cost and performance advantages, according to Cleveland-based Freedonia.
The 422-page report costs $5,100.