Recycling and use of recycled content is getting evolved faster than before” – Jeevaraj Pillai of UFlex

As we move into a new year, it’s time to ask what kinds of trends, priorities and disruptive innovations will be the key drivers in 2023. We spoke to Jeevaraj Pillai, joint president, flexible packing business and new product development, UFlex, about the year that has passed by, and the challenges and opportunities for the industry in 2023 and beyond.

Consumer markets are experiencing rapid growth, especially in the food, personal care, and pharmaceutical industries and coupled with phenomenal growth in e-commerce sales, the packaging industry continues to register robust growth. Flexible packaging is gaining preference over rigid packaging alternatives, as it is lightweight and cost-effective. Research by allied market research indicates the size of the global flexible packaging market at USD 68.5 billion in 2021, which is projected to reach USD 102.8 billion by 2031 at a CAGR of 4.2%.

Comments

  1. Solution PlanetsMarch 27, 2024 at 12:42 AM

    Interesting! Flexible packaging is booming (USD 68.5 billion in 2021) due to e-commerce and consumer demand in food & pharma. Recycling advancements are key for future growth.

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