Flexible Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Flexible Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global flexible packaging market size reached US$ 130.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 167.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.

Packaging is often termed as an economical means of providing protection, convenience, containment and compliance to a product during its storage, transportation, display, and usage. Flexible packaging refers to a package made of flexible and easily yielding materials that can be easily molded into different shapes. Flexible packaging is one of the rapidly growing segments of the packaging industry, combining the highest qualities of film, paper, and aluminum foil to provide a wide range of protective characteristics. These flexible packages can acquire the shape of a pouch, liner, bag or overwrap and it can resonate with any type of packaging. Various applications of flexible packaging in the food industry include packaging of ready-to-eat food items, boil-in-bag pouches, and foods that are often transferred from freezer-to-microwave. Packaging used for freezer-to-microwave type food is resistant to high temperature extremes and is a good moisture-resistant sealant as well. The non-food product applications of flexible packaging include insulation, cosmetics, and healthcare. The market is growing rapidly with flexible packaging ensuring food safety, enhanced value of food products, extended shelf-life, heating and moisture barrier, effective permeability, and ease of use. Consumers are also preferring this packaging type because of its commitment to convenience, aesthetic appeal and durability.

Catalyzed by advancements in packaging technology, the global demand of flexible packaging material is exhibiting strong growth. Moreover, the popularity of flexible packaging among consumers has also increased as it is a cost-effective alternative for storage issues, minimizes product wastage along with keeping the food safe and healthy. The pharmaceuticals and nutraceuticals industry have also been driving the demand of flexible packaging as it provides such industries with a sustainable and recyclable alternative that are based on polymers. Other factors that are currently driving the market include customizing ability, safety assurance, reusability, transparency, reliability, etc.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flexible packaging market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, raw material, printing technology and application.

Breakup by Product Type:

Printed Rollstock
Preformed Bags and Pouches
Others

Based on product type, the market has been segmented into printed rollstock, preformed bags and pouches and others. Printed rollstock currently represents the biggest segment.

Breakup by Raw Material:

Plastic
Paper
Aluminium Foil
Cellulose

Based on the raw material, the market has been segmented into plastic, paper, aluminium foil and cellulose. Plastic currently represents the biggest segment.

Breakup by Printing Technology:

Flexography
Rotogravure
Digital
Others

Based on the printing technology, the market has been segmented into flexography, rotogravure, digital and others. Flexography represents the leading segment.

Breakup by Application:

Food & Beverages
Pharmaceuticals
Cosmetics
Others

Based on the application, food & beverages represents the largest segment, accounting for majority of the market share. Other major application includes pharmaceuticals, cosmetics and others.

Regional Insights:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for majority of the market share.

Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Amcor Limited, Bemis Company, Berry Global Group, Inc, Mondi Limited, Sealed Air, Aluflexpack AG, Bak Ambalaj Sanayi, Constantia Flexibles, Clondalkin Group, Danaflex Group, DS Smith Plc, Glenroy, Inc, Huhtamaki PPL Limited, Printpack, Inc. and ProAmpac Intermediate, Inc.

This report provides a deep insight into the global flexible packaging market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the flexible packaging industry in any manner.

Key Questions Answered in This Report
1. What was the size of the global flexible packaging market in 2022?
2. What is the expected growth rate of the global flexible packaging market during 2023-2028?
3. What are the key factors driving the global flexible packaging market?
4. What has been the impact of COVID-19 on the global flexible packaging market?
5. What is the breakup of the global flexible packaging market based on the product type?
6. What is the breakup of the global flexible packaging market based on raw material?
7. What is the breakup of the global flexible packaging market based on the printing technology?
8. What is the breakup of the global flexible packaging market based on the application?
9. What are the key regions in the global flexible packaging market?
10. Who are the key players/companies in the global flexible packaging market?