Flexible Packaging Market

Flexible Packaging Market Size (2023-2028)

The Global Flexible Packaging Market value is anticipated to grow at 7.12% CAGR from 2023 to 2028 and it is estimated that the market is expected to be valued at USD 52.64 billion in 2022 and is expected to reach USD 66.26 billion by 2028.

FLEXIBLE PACKAGING MARKET REPORT COVERAGE:

Market Segmentation:

Flexible Packaging Market – By Type:

• Stand-Up Pouches
• Flat Pouches
• Gusseted Bags
• Wicketed Bags
• Wraps
• Rollstock

Stand-up pouches and pillow pouches are the most widely used flexible packaging products. Pillow pouches will witness high gains because of their increasing usage in the food & beverages and dairy industry. Low cost, high sealing ability, and cost-efficient transportation are some of the key properties responsible for the growth of the market. High barrier properties against moisture and oxygen coupled with low material usage and cost-effective properties will fuel the stand-up pouches demand. 

Flexible Packaging Market – By Material:

• Plastic Films
• Paper
• Aluminum Foil
• Bioplastics

Polymers were one of the major contributing materials, accounting for a major share of this market segment. Durability and cost-effectiveness make the product highly demanding among users. Rising environmental concerns and stringent government regulations regarding CO2 emission may drive the industry towards more eco-friendly and biodegradable materials including cellulosic and bioplastics. Recent innovations in shale gas, growing PE film usage, and reducing PE resin cost will further boost the polyethylene flexible packaging demand. A high moisture barrier, good low-temperature performance, high durability as well as ability to seal without any coating are some properties influencing material penetration. 

Flexible Packaging Market – By Printing Technology:

• Flexography
• Rotogravure
• Digital Printing
• Other Printing Technologies

Digital printing technology is widely used in this industry to serve the purpose of labeling on flexible packaging. Rising consumer demand for processed and packed food items and shifting preference for aesthetically appealing products will fuel the flexible packaging market demand. Increasing extended shelf life requirements along with preservation from contamination open new avenues for industry growth in the food and beverages and healthcare sector. The healthcare segment is projected to register the highest growth rate in this market segment due to the rising disposable income accompanied by regulatory support.

Flexible Packaging Market – By Application:

• Promote
• Food and Beverages
• Healthcare
• Cosmetics & Toiletries
• Other Applications

A rise in the demand for packaged and processed food as a result of changing lifestyles and eating habits has positively influenced flexible packaging market share from food and beverage applications. 

Market Regional Analysis:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

In the Asia Pacific flexible packaging market, factors like rising population and fast industrialization in growing economies are estimated to propel business expansion in the region. In addition to that, escalated per capita disposable income and changing preferences and lifestyles of customers, also have a positive effect on the expansion of the local market. China, India, and Japan are the key countries that contribute highly to the flexible packaging market in the region. Furthermore, growing economies like China and India have showcased a rise of global companies setting up their availability in these countries. Such factors escalate the call for flexible packaging in the region.

Europe Flexible Packaging Market accounted for over 30% market share in 2019. The European market led by Germany, the UK, and France is highly influenced by changing customer preferences and requirements for a prolonged shelf life of food & beverage products in colder regions. Rising personal care expenditures in Germany, UK, France, and Italy are probable to support product calls across the healthcare segment in the coming years.

Market Recent Developments:

ProAmpac provides a portfolio of flexible medical packaging. It displayed a broad collection of flexible packaging materials at the Medical Design & Manufacturing (MD&M) West Conference of 2020. The firm invited visitants to learn how their expertise in medical equipment can help generate innovative packaging solutions, including sustainable options.

Flexible Packaging Market Prominent Players mentioned in the research report are:

1. Amcor Limited
2. Bemis Company Inc.
3. Constantia Flexibles Group GmbH
4. Sealed Air Corporation
5. Huhtamäki Oyj
6. Coveris Holdings S.A
7. Sonoco Products Company
8. Berry Plastics Group Inc
9. Mondi Group
10. Reynolds Group Holdings