Converted Flexible Packaging Market by Material (Metal, Paper, Plastic), Product (Bags, Pouches, Zip-lock Covers), End Use - Global Forecast 2024-2030

Converted Flexible Packaging Market by Material (Metal, Paper, Plastic), Product (Bags, Pouches, Zip-lock Covers), End Use - Global Forecast 2024-2030

The Converted Flexible Packaging Market size was estimated at USD 19.28 billion in 2023 and expected to reach USD 20.19 billion in 2024, at a CAGR 4.91% to reach USD 26.98 billion by 2030.

Converted flexible packaging refers to materials that have undergone various processes, such as printing, coating, laminating, and cutting, to create packaging that can easily change shape. These materials are typically made from films, foils, or papers and are used to package a wide range of products, including foods, beverages, pharmaceuticals, and personal care items. The converted aspect of the term indicates that these materials have been transformed from basic, raw forms into formats more suitable for specific packaging purposes. Increasing regulatory and consumer focus on environmental impact is pushing companies toward more sustainable packaging solutions. Additionally, as retail sectors, especially in emerging economies, continue to grow, demand for durable and lightweight packaging that can withstand the rigors of logistics is increasing. However, fluctuations in the costs of polymers, paper, and other base materials can lead to inconsistent pricing in the market. Compliance with continuously evolving global regulations regarding packaging safety and environmental impact can incur additional costs and design constraints. Furthermore, innovations in material science and manufacturing processes enable the production of more durable and versatile packaging solutions. Research into entirely biodegradable and compostable flexible packaging materials could help address environmental concerns and regulatory pressures.

Regional Insights

The converted flexible packaging market in North America is largely driven by consumer convenience, the demand for sustainable packaging solutions, and technological advancements in packaging materials and processes. The United States is a leader in terms of innovation, with active research and patented technologies focusing on improving barrier properties, biodegradability, and the recyclability of materials. Ongoing innovations reveal developments in bio-based flexible films, which are more environmentally friendly. These innovations cater to the growing consumer preference for sustainable options, which significantly influences purchasing behavior. In Europe, strict regulations related to packaging waste and sustainability drive the market. European consumers are highly aware of environmental issues, which influence their purchasing decisions regarding products with sustainable or minimal packaging. Initiatives include investments in recycling facilities and the development of compostable and biodegradable packaging solutions. Legislative pressures, such as the EU’s directive on single-use plastics, further fuel innovations and adaptations in the packaging industry. The Middle East and Africa market is characterized by rising economic growth and increasing urbanization, which results in greater consumer demand for packaged goods. There is a growing interest in lightweight and durable packaging options to extend the shelf life of products. The Asia-Pacific region exhibits high growth potential in the converted flexible packaging market. This region benefits significantly from shifting consumer patterns, rapid urbanization, and industrial growth. China has seen substantial investments in innovation and technology transfer in the packaging sector, aiming at efficiency and sustainability. Japan continues to pioneer several patented packaging technologies that enhance functionality and recyclability. India is witnessing a surge in demand for processed and packaged foods due to demographic changes and rising income levels, driving the need for more innovative packaging solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Converted Flexible Packaging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing demand for packaging solutions across industries for enhanced protection and handling convenience
Upsurge in demand for the environment-friendly flexible packaging solutions
Ongoing expansion of retail & e-commerce sectors especially in emerging economies

Market Restraints

Fluctuations in the costs of raw material including polymers, paper, and other base materials

Market Opportunities

Innovations in material science and manufacturing processes
Significant development of smart packaging solution by integrating QR codes and RFID tags

Market Challenges

Concerns related to the recyclability issues of the converted flexible packaging materials

Market Segmentation Analysis

Product: Growing preference for bags as it offer a cost-effective solution for simple packaging needs
End Use: Healthcare converted flexible packaging prefer sterility and regulatory compliance

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Converted Flexible Packaging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Converted Flexible Packaging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Innovative Partnership Launches New Sustainable Film Packaging for PepsiCo with 50% Recycled Content

A collaborative effort involving key industry players has led to the development of a new film packaging solution for PepsiCo products. This innovative packaging is composed of 50% recycled plastic, underscoring an important advancement in the use of sustainable materials within the converted flexible packaging industry. This initiative meets increasing regulatory demands for higher recycled content in consumer packaging and aligns with PepsiCo’s environmental goals, which aim to reduce the ecological footprint of packaging waste.

Innovative Collaboration Aims to Transform Ocean-Bound Plastic into Sustainable Packaging Solutions

SABIC, a global company in diversified chemicals, has partnered with various industry players to address the growing environmental threat of ocean-bound plastic waste. This collaborative effort focuses on converting plastic waste that is at risk of entering the world's oceans into high-quality, recycled content for use in flexible packaging materials. By integrating these recycled plastics into their production processes, SABIC supports the fight against marine pollution and helps to propel the circular economy, advancing the use of sustainable materials in the packaging industry.

Innovative Partnership Between Toppan and Polymateria Introduces Biodegradable Packaging Solutions

Toppan has partnered with Polymateria, a British tech company specializing in advancing biodegradable plastics technology. This collaboration aims to address the critical environmental problem of plastic waste by launching a new type of packaging that can biodegrade within a defined time frame in natural environments. The biodegradable solutions developed through this partnership are engineered to combat pollution effectively and have transformed the phase of packaging, combining Toppan’s packaging expertise and Polymateria’s groundbreaking Biotransformation technology.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Converted Flexible Packaging Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Converted Flexible Packaging Market, highlighting leading vendors and their innovative profiles. These include ACTEGA GmbH, Aluflexpack AG, Amcor PLC, BBC CELLPACK Packaging Illfurth SAS, Berry Global Group, Inc., C-P Flexible Packaging, Inc., Clondalkin Group, Constantia Flexibles International GmbH, Coveris Management GmbH, Goglio S.p.A., Graphic Packaging Holding Company, Hood Packaging Corporation, Huhtamäki Oyj, Microplast – Coldeplast, Mondi PLC, Pactiv Evergreen Inc., PPC Flexible Packaging LLC, ProAmpac Intermediate, Inc., Schur Flexibles Holding GesmbH, Sealed Air Corporation, Sonoco Products Company, Südpack Holding GmbH, UFlex Limited, WestRock Company, and Wipak Group.

Market Segmentation & Coverage

This research report categorizes the Converted Flexible Packaging Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material
Metal
Paper
Plastic
Bio-Based Polymers
Synthetic Polymers
Product
Bags
Pouches
Zip-lock Covers
End Use
Agriculture
Cosmetics & Personal Care
Electronical & Electronics
Food & Beverage
Healthcare
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year