Authored By: Sarah
11 Jul 2024

 Flexible Packaging Market Size to grow by USD 51.6 billion between 2024-2028

According to a research report “ Flexible Packaging Market” by Material (Flexible plastic, Flexible paper, Flexible foil) Product (Pouches, Bags, Films and wraps, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 51.6 billion, at a CAGR of  5.97% during the forecast period. The global flexible packaging market for food and beverages is witnessing significant growth due to evolving consumer lifestyles and the increasing preference for convenient packaging solutions. Pouch packaging, a key trend in this market, offers numerous advantages, including lightweight design, high printability, and suitability for single-serve uses. Spout pouches, in particular, have gained popularity for their ability to discharge up to 99.5% of their contents, thereby reducing food and beverage wastage. This trend is expected to continue driving the growth of the flexible packaging market in the food and beverage industry.

Browse market data tables, figures, and in-depth TOC on “Flexible Packaging Market” by Material (Flexible plastic, Flexible paper, Flexible foil) Product (Pouches, Bags, Films and wraps, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Material, the Flexible plastic segment is projected to dominate the market size in 2024

The flexible packaging market exhibits significant growth potential, driven by the increasing demand for lightweight, convenient, and cost-effective packaging solutions. Key market trends include the rise of e-commerce, consumer preference for sustainable packaging, and technological advancements in materials and production processes. Companies are investing in innovation to meet these demands, offering customizable, high-barrier, and recyclable packaging options to meet diverse industry requirements.

By Product, Pouches  segment is expected to hold the largest market size for the year 2024

The flexible packaging market exhibits significant growth potential due to its inherent advantages, including lightweight, cost-effectiveness, and extended product shelf life. Key market drivers include the food and beverage industry's increasing preference for convenient and portable packaging solutions, as well as the rising demand for sustainable and eco-friendly options. Innovations in materials science and technology continue to fuel market expansion, with applications spanning various sectors, including food, pharmaceuticals, and industrial goods.

APAC is forecasted to hold the largest market size by region in 2024

The flexible packaging market exhibits significant growth potential, driven by the increasing demand for lightweight, cost-effective, and convenient packaging solutions. Key market trends include the adoption of sustainable materials, advancements in technology, and the rising preference for on-the-go consumption. Companies are investing in research and development to innovate and meet the evolving needs of consumers and businesses. The market is expected to continue expanding, driven by these factors and the increasing global population and urbanization.

The Flexible Packaging Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Amcor Plc
  • American Packaging Corp.
  • Behr Bircher Cellpack BBC AG
  • Berry Global Inc.
  • Bischof Klein SE and Co. KG
  • Bryce Corp.
  • CCL Industries Inc.
  • Constantia Flexibles Group GmbH
  • Glenroy Inc.
  • Huhtamaki Oyj
  • Mondi Plc
  • Novolex
  • Printpack Inc.
  • ProAmpac Holdings Inc.
  • Sealed Air Corp.
  • Sonoco Products Co.
  • Transcontinental Inc.
  • UFlex Ltd.
  • WestRock Co.
  • Wipak Group
.

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Research Analysis Overview

The Flexible Packaging Market is witnessing significant growth due to its wide application across various industries, particularly in the Food and Beverage and Personal Care sectors. Flexible packaging solutions, including films and wraps, sachets, bags, and pouches, are increasingly popular due to their ease of transportation and product protection capabilities. Key materials used in flexible packaging are Polyethylene and Bioplastic. In the Food and Beverage industry, flexible packaging helps reduce food wastage and extend food shelf life, thereby reducing energy consumption and carbon emissions. In contrast, Rigid Metal Packaging and Flexible Metal Packaging have higher energy consumption and carbon emissions. Personal care sector also benefits from flexible packaging as it offers Eco-friendly solutions for various product categories such as shampoos, lotions, and creams. The use of eco-friendly materials like Bioplastic in flexible packaging is gaining popularity due to increasing consumer awareness and demand for sustainable packaging. Flexible packaging products like wraps, rolls, and sachets offer convenience and portability, making them a preferred choice for consumers. However, the environmental impact of plastic packaging remains a concern, and efforts are being made to develop more sustainable and eco-friendly alternatives.

Market Research Overview

The Flexible Packaging Market is a dynamic and evolving industry that encompasses various sectors, including converting, coating, and the health-conscious trends in meat, fresh produce, processed food, and the Australian packaging market. With increasing life expectancy and health awareness, the population's demand for healthier options and longer shelf life for food and beverage products is driving the market's growth. The meat sectors, fresh produce, and processed food industries are major consumers of flexible packaging, with the use of aluminum, laminated plastic, retort pouches, and films for meat and vegetables, and blister packaging for snacks and confectionery. Dual-income professional households and the e-commerce sector's growth are also contributing to the demand for ready-to-eat packaged foods and lightweight packaging solutions. Industrialization, busy lifestyles, and the need for convenience have led to the increased use of flexible packaging in various product categories, such as frozen bakery food, snacks and confectionery, and personal care. The robust pharmaceutical industry's demand for thermal sterilization and eco-friendly solutions is also driving the market's growth. Environmental considerations, such as plastic pollution, landfills, and ocean contamination, have led to the development of sustainable packaging solutions, including natural colors, bioplastics, and recycling. The use of low-density polyethylene, thermoplastic resin, geomembranes, and plastic films in various applications, from packaging design to industrial use, is a significant trend in the flexible packaging market. The market's production volume is expected to reach millions of tonnes, with applications in various sectors, including food and beverage, cosmetics, and pharmaceuticals. Flexography, a printing technology, is widely used in the production of flexible packaging products, including stand-up pouches, films, and wraps. The flexible packaging market's growth is also driven by the need for intelligent storage, product tracking, and inventory management, as well as the development of smart packaging designs and formats. Hygiene awareness, the Paris Agreement, and the reduction of carbon footprint are also significant factors influencing the market's growth. Assumptions about the market's growth should consider the availability and cost of raw materials, such as paper, plastic, and metal, as well as the competitive landscape and the impact of brands on consumer preferences. The market's future trends include the use of eco-friendly solutions, ease of transportation, product protection, and the development of new packaging formats and technologies.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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