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The flexible packaging market size is forecast to increase by USD 51.6 billion at a CAGR of 5.97% between 2023 and 2028. The market is experiencing substantial expansion due to several key factors. Firstly, there is a rising demand for pouch packaging solutions due to their numerous benefits, including convenience, portability, and extended product shelf life of pouches. Secondly, there is a growing consumer consciousness towards eco-friendly and sustainable packaging options. As a result, there is an increasing preference for biodegradable packaging materials. Lastly, minimizing food wastage is a critical consideration, and pouch packaging effectively preserves food freshness and reduces spoilage. These trends are expected to continue shaping the growth of the pouch packaging market in the food and beverage sector. Consumers' priorities are shifting towards more sustainable and eco-friendly options, making it essential for businesses to adapt to these changing preferences. Additionally, the convenience and extended shelf life offered by pouch packaging make it an attractive option for both manufacturers and consumers. The market's growth trajectory is expected to remain strong as these trends continue to shape the industry.
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The flexible packaging 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 flexible plastic segment is estimated to witness significant growth during the forecast period. Rising demand for packaged foods, frozen foods, and beverages are key factors driving the market growth. Flexible plastic bags are available in various shapes such as wicket bags, gusset bags, display bags, vacuum bags, and poly bags.
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The flexible plastic segment was the largest segment and was valued at USD 115.80 billion in 2018. Films and wraps are primarily used for food packaging in quick-service restaurants, full-service restaurants, cafes, and other food service establishments. They are used to wrap sandwiches, pizza, burgers, and other snacks. It also provides excellent functional properties that make storage easier and keep food fresher for longer. Small bakeries use heat packs to wrap warm baked goods. Thus, such factors are expected to stimulate the demand for flexible plastic packaging, such as bags during the forecast period.
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APAC is estimated to contribute 49% to the growth of the global flexible packaging market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Due to improving economic conditions in various countries such as China, India, Indonesia, and Australia, the market in APAC is expected to grow significantly. Increased urbanization and lifestyle changes are expected to increase the demand for soft drinks and instant meals, increasing the demand for food and beverages in the region. Moreover, the regional food industry is undergoing major changes as consumers choose packaged foods over traditional prepared meals. This is primarily due to rising disposable income, busy lifestyles, time constraints on meal preparation, and the ready availability of packaged food. With on-time delivery, convenience, and better discounts, consumers are turning to e-commerce/online platforms to order packaged groceries. This will bring numerous innovations to the food and beverage industry and boost the growth of the market during the forecast period.
In today's marketplace, flexible packaging has become a favored option for numerous industries, including food and beverages and personal care. This packaging solution offers several advantages, such as product protection, adaptability, and ease of transportation. The food and beverage industry has seen significant benefits from this packaging method, with applications ranging from sachets and roll stocks to flexible metal and rigid metal packaging. These options, including bioplastics, contribute to extended food shelf life, preserving the freshness and quality of perishable items. Furthermore, they reduce carbon emissions and energy consumption compared to conventional packaging methods. In the food and beverage sector, this packaging caters to a wide array of product categories, including dairy, baked goods, and beverages.
The personal care sector also adopts flexible packaging due to its versatility and sustainability. Bioplastics, a popular eco-friendly alternative, are increasingly utilized in this sector. Their carbon footprint is substantially lower than that of rigid packaging, making them a more sustainable choice for both industries. Polyethylene, a primary component of flexible packaging, provides excellent barrier properties, ensuring product protection and maintaining product quality. Flexible metal packaging and rigid metal packaging also play crucial roles in the market, addressing specific application needs. Overall, the sector continues to expand, fueled by the increasing demand for eco-friendly solutions, product protection, and the adaptability of flexible packaging.
Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in demand for pouch packaging solutions is the key factor for flexible packaging market growth. Changing consumer lifestyles across the globe and shifting consumer preferences towards these solutions to facilitate storage, handling, and transportation have led to a demand for package solutions. The Pouch packaging is light in weight, excellent in printability, and has a high capacity to meet the needs of one-time use. As a result, Pouch packaging solutions are one of the fastest-growing trends in the global flexible food and beverage packaging market for food and beverages.
Moreover, the low cost of printing flexible bag packaging solutions has also had a positive impact on the demand for flexible bag packaging solutions from the food and beverage industry. Furthermore, the cost of packing 250 grams of food products in flexible pouches is approximately USD 0.50 less than in rigid packaging. This will drive the growth of the global flexible packaging market during the forecast period.
Advanced recycling technologies for recycling flexible packaging waste is the primary trend in the flexible packaging market. A broad range of these solutions consists of plastic and aluminum foil. However, the non-recyclable nature of plastic materials limits the growth of the global market. Therefore, to meet this challenge, the manufacturers and raw material suppliers are introducing environmentally friendly plastic film solutions and launching various recycling programs to improve the sustainability of their supply chain solutions.
Furthermore, various other programs and initiatives such as the Waste and Resources Action Plan (WRAP), the Plastics Industry Recycling Action Plan (PIRAP), and the Materials Recovery Facility (MRF) are also recycling initiatives for plastic waste generated from this of food and beverage products. contributes to this for food and beverages. Hence, increasing adoption of advanced recycling technology will drive the growth of the global market during the forecast period.
Volatility in raw material prices is a challenge that affects flexible packaging market growth. Different types of packaging materials are used to wrap food including plastic, glass, metal, and paper. Fluctuations in raw material prices will lead to a decrease in profit margin for sellers due to raised production costs. Therefore, sellers are forced to increase product prices due to fluctuating commodity prices. The price of virgin yarn seems to be more stable than that of recycled yarn.
Moreover, prices of packaging materials such as paper and paper products used to produce corrugated packaging solutions are also expected to fluctuate in the future. As a result, companies are expected to increase the price of corrugated packaging software in response to rising raw material prices. Additionally, aluminum, the main raw material used in the production of food canning, also experiences constant price fluctuations, which will impede the growth of the market during the forecast period.
The flexible packaging 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 flexible packaging market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market 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 for food and beverages such as Atria easy-open vacuum pack, squeeze pouches and Wipak pro direct, which use fully automated pre-press and solvent-free paper composites.
The flexible packaging market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market 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. The flexible packaging market forecasting report includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
In the ever-changing landscape of the packaging industry, flexible packaging has gained significant traction, particularly within the food and beverage sector. This market segment is distinguished by its adaptability in terms of raw materials, formats, and designs. The demand for flexible packaging in food and beverage applications is continually evolving, with brands striving to improve their offerings to cater to consumer preferences. The Paris Agreement and heightened focus on hygiene have accelerated the need for technological advancements. Advanced storage and inventory management systems, coupled with product tracking, are crucial for maintaining the freshness and safety of food and beverages. A notable trend in this market is smart packaging, which integrates technology to provide features such as extended shelf life, real-time monitoring, and consumer engagement.
Flexible packaging encompasses various forms, including standup pouches and flat or pillow pouches. The selection of packaging type depends on the unique characteristics of the food or beverage product. Flexography, a widely adopted printing technology, is frequently utilized in the production of flexible packaging due to its versatility and cost-effectiveness. In summary, this market is a dynamic and inventive space, shaped by consumer preferences, technological innovations, and regulatory requirements. Brands are consistently seeking to distinguish themselves through flexible packaging solutions that provide convenience, sustainability, and an enhanced consumer experience.
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Market Scope |
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Report Coverage |
Details |
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Page number |
176 |
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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 5.97% |
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Market growth 2024-2028 |
USD 51.6 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.28 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 49% |
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Key countries |
China, US, UK, Germany, and Japan |
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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, 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., and Wipak Group |
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Market dynamics |
Parent market analysis, Market forecasting, Market forecast, 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 market forecast period |
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Customization purview |
If our flexible packaging market trends and growth 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 Material
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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