The Flexible Plastic Packaging Market is being driven by Rising focus on improving the shelf life of products
The Flexible Plastic Packaging Market is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 43.9 billion. The flexible plastic packaging market is witnessing a significant trend of continuous product innovation, with key players investing heavily in research and development to stay competitive. One such example is Amcor Plc's December 2022 Memorandum of Understanding (MOU) with Licella Holdings to establish advanced plastic recycling facilities in Australia. This strategic move strengthens Amcor's commitment to developing a local circular economy for soft plastics, contributing to their goal of incorporating 30% recycled content in all their products by 2030. Such initiatives are expected to inspire other market participants to introduce innovative, sustainable solutions to cater to evolving consumer preferences and regulatory requirements.
Get more information on Flexible Plastic Packaging Market by requesting a sample report
The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
Market growth 2024-2028 |
USD 43.9 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.2 |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Flexible Plastic Packaging Market is driven by key reasons such as printability, durability, and barrier protection, offering advantages over rigid packaging alternatives like paper, aluminum foil, and rigid plastics. Robust vendors like Richdale Plastics collaborate to innovate, withstand competition, and cater to market facets like packaged food and plastic bags/films. Price fluctuations, acquisitions, and production capacity expansion are shaping the market. However, concerns over plastic contamination and pollution, particularly in marine life, remain challenges. Plastic resins are a significant focus, with sustainability and biodegradable solutions gaining traction.
The Flexible Plastic Packaging Market, as identified by Technavio, is a significant segment within the broader Global Paper and Plastic Packaging Products and Materials Market. While paper packaging offers advantages such as biodegradability and recyclability, flexible plastic packaging boasts superior performance and durability, making it a preferred choice for various industries. Key reasons for this market's robust growth include continuous investment in research and development, strategic collaborations, and the prime demand from sectors like packaged food. As competition intensifies, a robust vendor landscape emerges, with key players focusing on offering innovative solutions using materials like polyvinyl chloride, polypropylene, and polyethylene.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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/
Safe and Secure SSL Encrypted