tmrFebruary 3, 2021 24
TMR anticipates that the ASEAN flexible packaging market is expected to witness growth with a CAGR of 5.7% during the forecast period between 2016 and 2024. This growth is primarily attributable to the high adoption of the advanced technologies coupled with robust investment in innovation and product improvement, which benefits market growth. Additionally, a robust increase in population coupled with rising their disposable income, which leads to increase the affordability of the advanced packaging materials. This factor is expected to propel market growth in the coming years and help it grab the value of US$6.71 bn by 2024-end. The market stood at a valuation of US$4.32 bn in 2015.