NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
flexible packaging market size is estimated to grow by USD 45.1 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 3.93% during the forecast period. Rising focus on
improving shelf life of products is driving market
growth, with a trend towards growing developments in the
flexible packaging industry. However, high cost involved in
manufacturing flexible packaging poses a challenge. Key
market players include Aluflexpack AG, Amcor Plc, Berry Global
Inc., Bischof Klein SE and Co. KG, CCL Industries Inc., Clondalkin
Group Holdings BV, Constantia Flexibles Group GmbH, Coveris
Management GmbH, DS Smith Plc, DuPont de Nemours Inc., Glenroy
Inc., Huhtamaki Oyj, Mondi Plc, Parkside Flexibles Ltd., Printpack
Inc., ProAmpac Holdings Inc., Reynolds Packaging, Sealed Air Corp.,
Sonoco Products Co., and UFlex Ltd..
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Flexible Packaging
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.93%
|
Market growth
2024-2028
|
USD 45.1
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.63
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
US, China, UK, Germany,
and Canada
|
Key companies
profiled
|
Aluflexpack AG, Amcor
Plc, Berry Global Inc., Bischof Klein SE and Co. KG, CCL Industries
Inc., Clondalkin Group Holdings BV, Constantia Flexibles Group
GmbH, Coveris Management GmbH, DS Smith Plc, DuPont de Nemours
Inc., Glenroy Inc., Huhtamaki Oyj, Mondi Plc, Parkside Flexibles
Ltd., Printpack Inc., ProAmpac Holdings Inc., Reynolds Packaging,
Sealed Air Corp., Sonoco Products Co., and UFlex Ltd.
|
Market Driver
The flexible packaging market is experiencing significant growth
due to trends prioritizing sustainability, innovation, and enhanced
functionality. Notable developments include the increased use of
recyclable and compostable materials, such as bio-based plastics
derived from renewable sources. For instance, Berry Global
introduced a high-performance film with 50% recycled content, while
Constantia Flexibles unveiled a recycle-ready laminate for the
pharmaceutical industry. These advancements contribute to the
market's expansion during the forecast period.
The flexible packaging market is currently experiencing
significant growth, driven by the increasing demand for
lightweight, convenient, and sustainable packaging solutions. Key
players in this industry include producers of plastic, paper, and
aluminum materials. Trends in this market include the use of
biodegradable and recyclable materials, such as bioplastics and
plant-based films. Additionally, advancements in printing
technology have led to the production of high-quality graphics and
designs on flexible packaging. Producers are also focusing on
improving the durability and functionality of their products
through the use of coatings and laminates. Overall, the flexible
packaging market is poised for continued expansion due to its
versatility and ability to meet the evolving needs of consumers and
businesses alike.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The cost
increase of raw materials, primarily plastic like PE and PP,
significantly impacts the flexible packaging market. Prices surged
in Asia, with PP rising by 6.2% in
Q1 2022. This leads to reduced profit margins for vendors due to
higher production costs. Consequently, they pass on these expenses
to consumers through price hikes. Additionally, ink and coating
prices escalated due to oil, solvent, and PU resin price rises. The
tight titanium dioxide supply further boosts ink prices,
potentially dampening demand for flexible packaging. To remain
competitive, vendors explore cheaper alternatives. This trend may
restrain the growth of the global flexible packaging market.
• The Flexible
Packaging market faces several challenges. FOOD and SHELF LIFE are
key considerations, requiring effective use of FILMs and ALUMINUM
for protection. The need for PRODUCTS that are lightweight and easy
to transport increases the demand for this packaging solution.
However, ensuring CONSUMER safety and reducing WASTAGE are ongoing
challenges. The use of PAPER and BOXES in conjunction with flexible
packaging is a trend. Sustainability is also a concern, with the
need to produce COSMETIC and other packaging that is RECYCLABLE and
environmentally friendly. The market must also address the
challenge of producing cost-effective and efficient PRODUCTION
processes. Overall, the Flexible Packaging industry must continue
to innovate to meet these challenges and provide effective
solutions for businesses.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This flexible packaging market report extensively covers market
segmentation by
- Product
- 1.1 Pouches
- 1.2 Bags
- 1.3 Films and wraps
- 1.4 Others
- Type
- 2.1 Food and beverage
- 2.2 Healthcare
- 2.3 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Pouches- The flexible packaging market is
experiencing significant growth, particularly in the pouch segment.
Stand-up pouches, with their airtight closure and eye-catching
design, are increasingly popular. These pouches offer multiple
barrier layers for product protection and extended shelf life.
Sustainability is a key trend, with innovations like Amcor's all-PE
spouted pouch addressing this need. These advancements are expected
to boost the market's expansion during the forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Flexible Packaging Market encompasses a wide range of
industries, including personal care, food, and consumer goods. Key
packaging materials in this market are Plastic, Paper, Metals,
Polypropylene, and Bioplastic. Recycling plays a significant role
in reducing the environmental impact of these materials. Flexible
packaging comes in various forms such as Pouches, Bags, Films and
wraps, Aluminum foil, and Smart packaging solutions like Stand-up
pouches, Bag-in-box, Cartons, and Tetra packs. These packaging
types extend the Food shelf life and help minimize Food wastage.
Additionally, Flexible Packaging is used for Non-food products and
Electronics, showcasing its versatility. Biodegradable films are
gaining popularity due to their eco-friendly nature, contributing
to the market's growth.
Market Research Overview
The Flexible Packaging Market encompasses a broad range of
products that are used to contain and protect various goods. These
packages offer advantages such as extended shelf life, convenience,
and versatility. The market is driven by several factors, including
the increasing demand for lightweight and convenient packaging
solutions, the growing trend towards sustainable packaging, and the
rising consumption of processed and packaged food. Flexible
packaging materials include films, papers, and laminates, which can
be used to create pouches, bags, wraps, and other forms of
packaging. The market is segmented based on the type of material
used, the end-use industry, and the geographical region. The
flexible packaging industry is expected to grow significantly in
the coming years due to its numerous benefits and the increasing
demand for convenient and sustainable packaging solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Pouches
- Bags
- Films And Wraps
- Others
- Type
-
- Food And Beverage
- Healthcare
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio