Flexible Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
Flexible packaging formats, including pouches, films, and bags, continue to be highly preferred among brands, primarily for the packaging of food products. The global market for flexible packaging is expected to witness stable growth between 2021 and 2025, fueled by the rapidly expanding end-use base, according to a forthcoming study by Fairfield Market Research. With a growing demand for functional and tangible packaging from customers and a focus on efficient, shipping-friendly product protection and supply chain efficacy from companies, the demand for flexible packaging solutions is poised to thrive.
Flexible packaging represents one of the fastest-growing segments of the global packaging industry, benefiting significantly from technological innovations and attractive economics. As sustainability concerns gain prominence, packaging companies are shifting away from conventional rigid packaging solutions and embracing innovative and environmentally-friendly alternatives. With more companies adopting a customer-centric approach, flexible packaging formats are gaining prominence in the global market. The expansion of e-commerce and advancements in digital printing technology are expected to further drive market growth.
F&B Applications Contribute Over 50% of Global Revenue
The food and beverage (F&B) industry accounts for more than half of the total market revenue, showcasing its dominance in the global market. The convenience, high performance, marketability, and storage efficiency of flexible packaging formats have contributed to their popularity in both food and non-food applications. Lightweight bags and pouches are projected to gain traction for unit packaging in segments such as bakery, frozen food, meat and poultry, and confectionery. Due to their cost-effectiveness, ease of use, functionality, safety, moisture and heat barrier properties, extended shelf-life, permeability, and adaptability, flexible packaging formats are also extensively used for products with higher liquid content. Their durability and appealing aesthetics add to the overall market attractiveness of flexible packaging solutions. Non-food application areas include healthcare, beauty and personal care, and insulation.
Versatility of Pouches Remains Desired
The unprecedented growth of retail categories like ready-to-eat/ready-to-drink, freezer-to-microwave, and boil-in-bag products is expected to bolster the demand for flexible packaging formats such as pouches, bags, and liners. Pouches, in particular, will witness significant growth due to their high performance compared to commodity counterparts. The versatility of pouches, including greater food safety, reliable air-tight closures, and easy handling, will drive their adoption in the retail sector, especially as they can stand upright on store shelves. The customizable nature of pouches will further contribute to their growing popularity in the flexible packaging market.
Asia Pacific Promises Maximum Growth Opportunity
Asia Pacific leads the global flexible packaging market, generating over a third of the total market revenue. The region's growth is driven by the rapid expansion of e-commerce, booming processed and packaged food sectors, and a thriving retail industry. The emergence of numerous smaller packaging units, particularly in fast-developing economies, supports market growth. The rising demand for medical, pharmaceutical, and related packaging solutions throughout the region is also expected to uphold the flexible packaging market during the forecast period.
Competition AnalysisKey players in the flexible packaging landscape are focused on strategic acquisitions, mergers, and partnerships. Amcor acquired Bemis Company Inc. in 2019, while Constantia Flexibles Group acquired a majority of shares in Creative Polypack Limited in 2018. Leading market players covered in the flexible packaging market report include Mondi Group, Amcor PLC, UFlex Limited, Eagle Flexible Packaging, Constantia Flexibles Group GmbH, Bemis Company, Inc., Wheel Flexible Packaging, Ampac Holdings, Sanjeev Flexi-Pack Pvt. Ltd., Sonoco Products Company, Sealed Air Corporation, ProAmpac, Coveris Holdings S.A., and Clondalkin Group Holdings B.V.
The global flexible packaging market is set for stable growth driven by increasing adoption, technological innovations, and the demand for sustainable packaging solutions.
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