The report, Converted Flexible Packaging, predicts that demand for converted flexible food packaging applications will climb by 4% per annum until 2015 and will account for around two-thirds of the converted flexible packaging market, which is predicted to have an overall value of $18.2bn in 2015.
Business research company Freedonia Group, which published the report, anticipates that the greatest application gains will be in the beverage, meat and snack food products.
Rising consumer demand for processed food and convenience-orientated items, which use costly higher barrier packaging materials to extend shelf life, will drive this growth in the converted flexible packaging market.
However, the report warned that sustainability efforts and continued interest in renewable, recyclable and compostable packaging could have a detrimental effect in future.
Sustainability commitments
According to the report, paper packaging has the potential to challenge the plastic bag sector, despite a projected increase in the demand for plastic bags in the US.
The plastic bag market is expected to experience growth of 3.1% per year to $8.7bn in 2015.
The plastic bag market is projected to sustain demand through its widespread use with baked food goods, produce, meat and frozen food in the food packaging sector.
Food application gains
Elsewhere in the report, packaging pouches are expected to experience further growth as more and more products from a number of markets including food production, convert to lightweight pouches.
The report suggests that packaged goods companies will aim to benefit from reduced shipping costs due to the lightweight and reduced-material used in pouch production.
The packaging pouches sector, which is expecting growth of 4.6% per year until 2015, will experience further growth through the replacement of ageing rigid packaging technology, said the report.