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The flexible plastic packaging market size is forecast to increase by USD 43.9 billion at a CAGR of 4.6% between 2023 and 2028. Market expansion hinges on various factors, notably the increasing emphasis on enhancing product shelf life, transitioning from rigid to flexible plastic packaging, and the rising popularity of stand-up pouches. Manufacturers are prioritizing innovations geared towards extending product durability and freshness, aligning with consumer preferences for convenience and sustainability. This shift towards flexible packaging solutions, exemplified by stand-up pouches, underscores the industry's responsiveness to evolving market dynamics and consumer demands. As the need for longer-lasting products grows, there's a corresponding demand for packaging solutions that not only ensure product integrity but also offer practicality and eco-friendliness. This trend reflects a broader shift towards sustainable practices and reinforces the importance of adapting to changing consumer behaviors and market trends.
The market is driven by several prime reasons, including the demand for convenient and lightweight packaging solutions, growing collaborations among industry players, and the need to maintain a robust market position amidst competition. Market facets like packaged food, paper, and aluminum foil contribute to its growth, supported by features such as printability and barrier protection. However, challenges such as plastic pollution and contamination pose hurdles, emphasizing the importance of sustainable practices. Price fluctuations and production capacity also impact market dynamics, necessitating strategic approaches to maintain competitiveness in this evolving landscape.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.The market is driven by various factors, with the shift away from rigid packaging being one of the prime reasons for its growth. This transition has led to collaborations between manufacturers and suppliers to enhance their market position amidst stiff competition. Market facets such as packaged food, paper, and aluminum foil play pivotal roles in determining the demand. Key considerations include printability, barrier protection, and resilience to price fluctuations. Plastic resins are extensively used in the production of flexible packaging, including plastic bags and plastic films. However, concerns about plastic contamination and pollution, especially concerning marine life, have prompted a shift towards eco-friendly alternatives like kraft paper.
The market share growth by the pouches segment will be significant during the forecast period. Pouches are widely used for packaging dry foods, candies, confectioneries, agricultural products, and liquids. There are various types of pouches include, such as stand-up pouches, flat pouches, side-sealed pouches, center-sealed pouches, side-gusseted pouches, vacuum pouches, spout pouches, and others.
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The pouches segment was valued at USD 62.30 billion in 2018. Amcor, Berry Global, Mondi, and Clondalkin Group are some of the major companies that offer pouches. For instance, Bemis Manufacturing Co. (Bemis) offers SmartTack EZ Peel Reseal packaging, which helps in improving shelf life and maintaining the freshness of products. Some companies are focusing on offering innovative pouches to cater to the rise in demand. For instance, in 2021, Amcor Plc developed a recyclable flexible retort pouch. Such new developments are likely to increase the options available for end users, which, in turn, is expected to increase the use of pouches in the global market during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in APAC is growing at a steady pace. Developing economies such as China and India are expected to be the major revenue contributors to the market in the region owing to the rapid expansion of end-user industries such as e-commerce, FMCG, and personal care. The changes in lifestyle patterns of consumers in APAC are a result of the increase in disposable incomes. Urbanization also complements the demand for household appliances in this region. These factors are driving the growth of the market in APAC.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising focus on improving the shelf life of products is notably driving market growth. The rise in the shelf life of products helps manufacturers reduce product wastage. It also helps in transporting and exporting perishable products such as food, beverages, and medicines without any damage. For flexible plastic packaging, the extension of shelf life is achieved using modified atmosphere packaging (MAP). Some companies are focusing on offering new products with extended shelf life.
The need for an extended shelf life of food items has led to the emergence of resealable flexible plastic packaging. This technology allows consumers to properly secure the package for later use. The rise in the availability of such products with added features is likely to increase the demand during the forecast period. These factors are expected to fuel the growth of the market.
The emergence of recyclable flexible plastic packaging is a key trend in the market. The rise in the need for sustainable packaging and the reduction in the use due to environmental concerns have led to an increase in the demand for recyclable flexible plastic packaging. Most end-users have been focusing on introducing various initiatives to increase the use of recyclable packaging.
Some companies have been focusing on the introduction of recyclable flexible plastic packaging owing to the demand from end-users. According to the European Strategy for Plastics, all plastic packaging in the EU must be recyclable or reusable by 2030. Hence, many businesses are focusing on achieving this goal by 2025. For instance, in February 2021, Coveris Management GmbH supported C&D Foods in a smooth transition to sustainable mono-material bags. Therefore, the rise in new product developments is expected to support market growth during the forecast period.
The high cost involved in manufacturing flexible plastic packaging may impede market growth. The cost of manufacturing is high due to the rise in the price of raw materials. Plastic is the primary raw material used in the manufacturing, which includes PE, PP, and others. The prices of different types of plastics have increased. For instance, the price of PP in Asia rose by around 6.2% in the first quarter of 2022. The rise in the price of raw materials is expected to reduce the profit margins of companies due to an increase in the production costs. Hence, companies pass on these costs to end-users by raising the prices.
Moreover,some manufacturers are increasing the prices of their products. Moreover, the prices of printing inks and coating have also increased due to the rise in the price of oil, solvents, and key monomers for polyurethane (PU) resins. In addition, the tight supply of titanium dioxide white pigment has increased the price of printing inks. These factors may have a negative impact on the demand for such products, which is expected to hinder the growth of the global market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amcor Plc - The company offers flexible packaging that is useful in applications related to personal care, healthcare, home care, pet care, and beverages. Through the flexible segment, the company provides development and supply of flexible packaging globally.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Continuous investment in flexible plastic packaging reflects its importance in modern consumer goods industries. Robust vendors capitalize on its environmental benefits, offering versatile and attractive solutions for various sectors like cosmetics and food. From garbage bags to laminated plastics used in sauces and curries, flexible bags cater to diverse needs, ensuring durability and thermal sterilization. With growing health awareness, biodegradable materials and recycled polymers gain traction, aligning with consumer interests and sustainability goals. The Gulf states witness significant adoption due to population growth and increasing consumption of processed foods. Companies emphasize product innovation and recycling capacity, driving the market towards a sustainable future.
Further, market offers versatility and durability, addressing consumer interest in convenient and sustainable solutions. With its energy-efficient production methods and potential to reduce landfill waste, it stands out as an environmentally friendly choice. From flexible bags for meats to laminated plastics for processed foods, it caters to diverse products like salty snacks, sweet biscuits, and sugar confectionery, maintaining freshness and extending shelf life. Innovations like the Sustane line further enhance its appeal by incorporating recycled materials. As consumer preferences shift towards convenient and eco-conscious options, flexible plastic packaging continues to evolve, meeting the demands of modern lifestyles while minimizing environmental impact.
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Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
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Market growth 2024-2028 |
USD 43.9 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.2 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, China, UK, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amcor Plc, AR Packaging Group AB, Bemis Manufacturing Co., Berry Global Inc., Bischof Klein SE and Co. KG, CCL Industries Inc., Clondalkin Group Holdings BV, Constantia Flexibles Group GmbH, Coveris Management GmbH, Crownpack Pty Ltd., DS Smith Plc, FlexPak Services LLC, Huhtamaki Oyj, Mondi Plc, ProAmpac Holdings Inc., Richdale Plastics, Sealed Air Corp., Sigma Plastics Group, Sonoco Products Co., and Transcontinental Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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