Flexible Plastic Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Flexible Plastic Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Flexible Plastic Packaging Market

The flexible plastic packaging market size was valued at USD 149.32 billion in 2023, and the market is now projected to grow from USD 157.74 billion in 2024 to USD 250.34 billion by 2032, exhibiting a CAGR of 5.94% during the forecast period of 2024-2032.

Theres almost no doubt that the global economy in 2020 experienced a significant drop due to the COVID-19 outbreak and the measures undertaken to limit the virus spread. Nonetheless, there were a number of challenges throughout the periods noted above, while the healthcare sector had comparatively higher growth in its operations, while the indices of food & beverage and agriculture sectors demonstrated moderate growth only. That is why some sectors observed the decreasing share of sales of the offered products, which also influenced the negative trends for flexible plastic packaging market growth.

Adding smart features into the packaging media, features like QR codes and NFC tags, utilizing and applying innovative and intelligent inks and adhesives transform product engagement. By letting more interactivities [and] product details via smart packing, these technologies enhance the experience. This innovation is somewhat vital in health and personal care segments leading to the growth in the flexible plastic packaging market share.

As you have seen, the demand for sustainable packaging has spiraled due to consumers’ awareness of environmental concerns. Flexible plastic packaging made from a range of materials which are biodegradable, is visible in contrasts between it and traditional packaging as a result of a capability to degrade naturally to release no toxic residuals known to cause landfill and pollution.

Comprehensive Analysis of Flexible Plastic Packaging Market

The flexible plastic packaging market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by material, by product-type, and by end-user. The materials include: polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and others. However, the product type includes: bags, pouches & sachets, films & laminates, tapes & labels, tubes, & others. By end-user it can be bifurcated into: food & beverage, healthcare, home care, personal care, agriculture, e-commerce, and others.

The Asia Pacific region leads the flexible plastic packaging market by benefiting a market size of USD 56.83 billion in 2023 due to the rising demand in the food & beverage, and healthcare sectors in the region.

The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: Amcor (Switzerland) Berry Global (U.S.) Sealed Air (IJ.S.) Aluflexpack AG (Switzerland) Bak Ambalaj Sanayi (Türkiye) Constantia Flexibles (Austria) Clondalkin Group (Netherlands) Danaflex Grouu (Russia) Printpack, Inc. (IJ.S.) ProAmpac Intermediate, Inc. (U.S.) Huhtamaki (Finland) Mondi (U.K.) Sonoco Products Company (U.S.) Coveris (Austria) Transcontinental lnc (Canada).

In December 2023, MOPI, one of the pallet stretch film suppliers, announced the launch of Hunter NanoPac Stretch Film. The film is manufactured from at least 30% recycled zlastlc, which reduces its ecological footprint.

Segmentation Table

Global Flexible Plastic Packaging Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 5.94% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Material, By Product type, By End-user industry and By Region

By Material Polyethylene (PE)

Polypropylene (PP)

Polyethylene Terephthalate (PET)

Polyvinyl Chloride (PVC)

Others

By Product type Bags

pouches & Sachets

Films & Laminates

Tapes & Labels

Tubes

Others

By End-user Food & Beverages

Healthcare

Home Care

Personal Care

Agriculture

E-commerce

Others

By Region North America (By Material, Product Type, End-user, and Country)

- U.S. (By Material)

- Canada (By Material)

Europe (By Material, Product Type, End-user, and Country)

- U.K. (By Material)

- Germany (By Material)

- France (By Material)

- Italy (By Material)

- Spain (By Material)

- Russia (By Material)

- Poland (By Material)

- Romania (By Material)

- Rest of Europe (By Material)

Asia Pacific (By Material, Product Type, End-user, and Country)

- China (By Material)

- Japan (By Material)

- India (By Material)

- South Korea (By Material)

- Australia (By Material)

- Southeast Asia (By Material)

- Rest of Asia Pacific (Type)

South America (By Material, Product Type, End-user, and Country)

- Brazil (By Material)

- Argentina (By Material)

- Mexico (By Material)

- Rest of South America (By Material)

Middle East & Africa (By Material, Product Type, End-user, and Country)

- Saudi Arabia (By Material)

- UAE (By Material)

- Oman (By Material)

- South Africa (By Material)

- Rest of Middle East & Africa (By Material)


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