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Flexible Packaging Market

Flexible Packaging Market

Flexible Packaging Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2021

Date

Nov - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1833

Segments Covered
  • By Materials Paperboards, Plastics, Aluminum Foils, Other Materials
  • By Packaging Types Stand-up Pouches, Films, Bag-in-Box, Other Packaging Types
  • By End Users Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, Other End Users
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 248.5 Billion
Revenue 2028Revenue 2028: USD 319.9 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.3%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Flexible Packaging Market Share

Market Synopsis:

The Global Flexible Packaging Market was valued at USD 248.5 Billion in 2021 and is expected to reach a value of USD 319.9 Billion by 2028. In the projection period, the Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.3%.

In Flexible Packaging, the best qualities of films and plastics are combined. These Flexible Packaging options offer practical solutions with low material ion costs. Flexible Packaging plays a significant role in the supply chain of many different industries and materials, from cosmetics to medical supplies and consumer items to electronics. Combining the best attributes of Film, Paper, Plastic, and Aluminum Foils to provide a variety of span of shielding capabilities with the least amount of material, Flexible Packaging increases the value and marketability of non-food and food materials. Growing consumer preference for convenience materials, rising usages of the material as a substitute for rigid packaging materials, and expanding growth of the cosmetics industry worldwide are some of the primary and significant facts. Rising packaged food demand, changing consumer preferences due to busy lifestyles and smaller household units, increasing usage of the material as a substitute for rigid packaging materials, and growing inclination of consumers towards convenience materials are some of the primary and significant facts.

Flexible Packaging Market Size, 2021 To 2028 (USD Billion)

In contrast, rising consumer demand for goods with longer shelf lives and increased use of biodegradable plastics due to consumers' increased awareness of eco-friendly materials will further contribute by creating enormous opportunities to fuel the expansion of the Flexible Packaging Market during the period covered by the forecast. On the other hand, in the aforementioned predicted timeframe, market restraining factors for the growth of Flexible Packaging are likely to be the volatility of raw material prices and the rising number of environmental and recycling issues. In addition, growing processing costs will provide the biggest obstacle to the market's expansion.

Market Segmentation:

The Flexible Packaging Market is segmented based on Materials, Packaging Types, End Users, and Region. Based on the Materials, the market is further segmented into Paperboards, Plastics, Aluminum Foils, and Other Materials. Furthermore, based on the Packaging Types, the market is further divided into Stand-up Pouch, Films, Bag-in-Box, and Other Packaging Types. In addition, based on the End Users, the market is further segmented into Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, and Other End Users.

Below tree is interactive. You can click the nodes to get more information.

Based on Materials:

The Plastics category dominated the market in 2021 and is expected to continue its dominance in the forecast period. In a variety of industry verticals, including food and beverage, cosmetics, medicines, tobacco goods, and the personal care industry, plastic has been employed as the most sustainable material for packaging. Plastics (polypropylene, PVC, polyethylene terephthalate, and polystyrene) are becoming more widely used due to their distinctive qualities, including sustainability, flexibility, and lightweight.

Based on End Use Industry:

The Food & Beverage category dominated the market in 2021 and is forecast to continue its dominance in the projection period. Increased spending on bakery and cereal bars, coffee or hot chocolate sticks and pouches, ready-to-cook meals, snack foods & nuts, chocolates & sweets, ice cream novelty items, spice foods, and other items are all examples of the growth in demand for snack and convenience foods in small or single serving portions. This trend is expected to favor the market for Flexible Packaging, further boosting segment growth.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

The Asia Pacific (APAC) is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. Due to their large populations, rising packaged food consumption, expanding organized retail industry, booming e-commerce, and increasing per capita income, China and India provide significant growth possibilities for the packaging market players. These elements will also guarantee that China and India will continue to dominate the industry in the years to come. Another essential element boosting the Flexible Packaging Market in this region is the growing demand to boost pharmaceutical output. Furthermore, market upscaling will be aided by favorable government initiatives and public awareness campaigns that support the expansion of high quality and increased productivity in the Asia Pacific region.

Recent Developments:

  • In April 2022, Amcor stated that its pharmaceutical packaging line now includes innovative, environmentally friendly High Shield laminates. This innovative product meets the industry's high performance and high barrier demands with reduced carbon footprint packaging.
  • In April 2021, Constantia Flexibles agreed to purchase Propak, a competitor in the European packaging market. Constantia Flexibles is helped by this strategy to become one of the major players in the European snack sector.

Competitive Landscape:

The key players in the Global Flexible Packaging Market include- Berry Global Inc., Amcor PLC, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, Sonoco and others.

Segmentation of the Global Flexible Packaging Market:

Parameter Details
Segments Covered
  • Materials (Paperboards, Plastics, Aluminum Foils, Other Materials)
  • Packaging Types (Stand-up Pouches, Films, Bag-in-Box, Other Packaging Types)
  • End Users (Food & Beverage, Personal Care, Pharmaceutical, Household Care, Industrial, Other End Users)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Berry Global Inc.
  • Amcor PLC
  • FlexPak Services LLC
  • Mondi Group
  • Sealed Air Corporation
  • Constantia Flexibles
  • Transcontinental Inc.
  • Coveris Holding SA
  • Huhtamaki
  • Sonoco
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Flexible Packaging Market to Reach Valuation of USD 319.9 Billion By 2028 – Rising Research and development in the packaging industry on Flexible Packaging Drives the Market
In terms of revenue, the Global Flexible Packaging Market is expected to reach USD 319.9 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.3% from 2022 to 2028. Flexible Packaging Market means strong, rigid, and inflexible external covering used to protect the bodies of inverte...
FAQ
Frequently Asked Question
  • The global Flexible Packaging valued at USD 248.5 Billion in 2020 and is expected to reach USD 319.9 Billion in 2028 growing at a CAGR of 4.3%.

  • The prominent players in the market are Berry Global Inc., Amcor PLC, FlexPak Services LLC, Mondi Group, Sealed Air Corporation, Constantia Flexibles, Transcontinental Inc., Coveris Holding SA, Huhtamaki, Sonoco.

  • The market is project to grow at a CAGR of 4.3% between 2021 and 2028.

  • The driving factors of the Flexible Packaging include

    • Increase in demand for fast-moving consumer goods (FMCG)

  • Asia Pacific was the leading regional segment of the Flexible Packaging in 2020.