Indonesia Flexible Packaging Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Indonesian Flexible Packaging Market is valued at USD 3.80 billion in 2021 and is expected to reach USD 5.02 billion by 2027, registering a CAGR of 4.74% over the forecast period (2022-2027). The economic growth in Indonesia has resulted in the production and consumption of flexible packaging products that have increased steadily over the years. The flexible packaging market is witnessing growth and contributing significantly to the economy due to the increasing demand for suitable packaging materials that can be used to pack anything.
Key HighlightsThe firm concentration ratio is expected to record higher growth during the forecast period as several players look at this market as a lucrative opportunity to consolidate their product offerings. The firm concentration ratio is expected to grow considerably over the forecast period. However, short product development cycles and relatively high exit barriers affect firms in this market. Overall, the competitive rivalry is expected to be high.
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