Global Flexible Packaging Market - 2023-2030
The Global Flexible Packaging Market reached US$ 231 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 301 billion by 2030. The market is growing at a CAGR of 4.1% during the forecast period 2023-2030.
The Global Flexible Packaging Market has experienced significant growth in recent years, driven by several factors. Firstly, the demand for convenience and on-the-go products has led to an increased need for flexible packaging solutions that are lightweight, easy to carry and provide efficient product protection.
Additionally, the growing emphasis on sustainability has fueled the adoption of flexible packaging materials, which are considered more eco-friendly than rigid packaging formats. The film & wraps product segment is expected to dominate the global flexible packaging market, which accounts for more than 45 % of the total market shares.
Market DynamicsA Rising Focus On Sustainability Majorly Propels The Market Growth
Flexible packaging typically requires fewer resources to produce compared to rigid packaging. It uses less material, energy and water during manufacturing and transportation. The lightweight nature of flexible packaging also helps reduce the overall carbon emissions associated with vehicles.
Flexible packaging offers excellent barrier properties that help protect products from moisture, light and oxygen, extending their shelf life. By preventing spoilage and food waste, flexible packaging contributes to sustainability by reducing the amount of discarded food and minimizing the associated environmental impact.
Regulatory Challenges And Infrastructure Limitations
The recycling and waste management infrastructure required for effective collection, sorting and processing of flexible packaging materials may be inadequate in certain regions. The lack of proper facilities and systems can hinder recycling efforts and limit the recyclability of flexible packaging, leading to increased waste and environmental concerns.
COVID-19 Impact AnalysisThe COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment AnalysisThe Global Flexible Packaging Market is segmented based on material, product, printing technology, end-user and region.
Growing Demand For Prepared Foods, Including Ready-To-Eat Meals, Frozen Meals, Snack Foods And Cake Mixes
Consumer preferences have evolved, with a greater emphasis on convenience, taste and variety. Ready-to-eat meals, frozen meals and snack foods cater to these preferences by offering a range of options to suit different tastes and dietary requirements. Manufacturers respond to these preferences by expanding production capacity to meet the growing demand.
The availability of prepared foods has expanded beyond traditional grocery stores to convenience stores, online platforms and food delivery services. These channels offer easy access to various ready-food options, encouraging consumers to incorporate them into daily routines. Suppliers must increase their production capacity to meet the demand from different retail channels.
The growing demand for cosmetic jars, tubes and other packaging materials bolsters the demand for personal care packaging, boosting the need for the global flexible packaging market. The personal care end-user segment was holding over 20% of the worldwide market shares by 2022.
Geographical AnalysisGrowing Asia-Pacific’s Demand For Packaged Food, Combined With The Increasingly Flourishing Food & Beverage Industry
The food and beverage industry in the Asia-Pacific has been experiencing robust growth. Rapid economic development, urbanization and a growing middle-class population have contributed to the flourishing industry. As a result, food and beverage manufacturers are scaling up their production capacities to meet the increasing consumer demand.
Flexible packaging provides a versatile and cost-effective solution for packaging a wide range of food and beverage products, making it the preferred choice for industry players. India is also a potential player for flexible packaging, which accounts for approximately 30% of the regional market share and is expected to grow at a significant CAGR during the forecasted period.
Competitive LandscapeThe major global players include Mondi Group, CLONDALKIN GROUP, Berry Global Inc, Amcor, Reynolds, Bemis Company, Inc, Sonoco, Constantia Flexibles Group GmbH, Huhtamaki Group and Coveris Holdings S.A.
Why Purchase the Report?• To visualize the global flexible packaging market segmentation based on material, product, printing technology, end-user and region, and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of flexible packaging market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The Global Flexible Packaging Market Report Would Provide Approximately 69 Tables, 70 Figures And 204 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies