NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global flexible packaging market size is estimated to
grow by USD 51.6 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 5.97% during the forecast period. Rise in demand for
pouch packaging solutions is driving market growth, with a trend
towards advanced recycling technologies for recycling flexible
packaging waste. However, government regulations on packaging poses
a challenge. Key market players include Amcor Plc, American
Packaging Corp., Behr Bircher Cellpack BBC AG, Berry Global Inc.,
Bischof Klein SE and Co. KG, Bryce Corp., CCL Industries Inc.,
Constantia Flexibles Group GmbH, Glenroy Inc., Huhtamaki Oyj, Mondi
Plc, Novolex, Printpack Inc., ProAmpac Holdings Inc., Sealed Air
Corp., Sonoco Products Co., Transcontinental Inc., UFlex Ltd.,
WestRock Co., and Wipak Group.
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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
5.97%
|
Market growth
2024-2028
|
USD 51.6
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.28
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 49%
|
Key
countries
|
China, US, UK, Germany,
and Japan
|
Key companies
profiled
|
Amcor Plc, American
Packaging Corp., Behr Bircher Cellpack BBC AG, Berry Global Inc.,
Bischof Klein SE and Co. KG, Bryce Corp., CCL Industries Inc.,
Constantia Flexibles Group GmbH, Glenroy Inc., Huhtamaki Oyj, Mondi
Plc, Novolex, Printpack Inc., ProAmpac Holdings Inc., Sealed Air
Corp., Sonoco Products Co., Transcontinental Inc., UFlex Ltd.,
WestRock Co., and Wipak Group
|
Market Driver
The flexible packaging market is experiencing significant growth
due to the rising demand for lightweight, convenient, and
economical packaging solutions in the food and beverage industry.
Flexible packaging, which is primarily made up of plastics and
aluminum foil, offers numerous benefits such as extended shelf
life, reduced material usage, and improved product protection.
However, the non-recyclable nature of plastic materials poses a
challenge to the market's growth. To address this issue, key
players in the flexible packaging industry and raw material
suppliers are introducing eco-friendly plastic film solutions and
implementing various recycling programs. For instance, MRFF
(Materials Recovery for the Future), a collaborative platform of
stakeholders including Amcor, Sealed Air, Procter and
Gamble, APR, PepsiCo, FPA, and Target, among others,
aims to provide effective and economical solutions for recycling
and recovering plastic materials throughout the lifecycle of the
plastic film. Additionally, initiatives like Waste & Resource
Action Program (WRAP), Plastics Industry Recycling Action Plan
(PIRAP), and Material Recovery Facility (MRF) are also contributing
to the recycling efforts. Moreover, advanced recycling technologies
such as plasma technology, which uses less energy than conventional
recycling methods, are being adopted by companies like Alcoa, Tetra
Pak, Klabin, and TSL Ambiental, to separate paper, aluminum, and
plastic components used in packaging. The growing adoption of such
technologies will foster the growth of the global flexible
packaging market for food and beverages during the forecast
period.
The flexible packaging market is witnessing significant growth,
driven by the increasing popularity of pouches, bags, sachets, and
wraps. Raw materials like metal, plastic, and paper are key inputs.
Brands are focusing on reducing carbon footprint, aligning with the
Paris Agreement, and addressing hygiene awareness. Smart packaging,
including formats and designs, is a trend, with inventory
management, product tracking, and intelligent storage solutions
gaining traction. Stand-up pouches, printing technology like
flexography, and applications in personal care, healthcare, and
food industries are major growth areas. Sustainable packaging,
using bioplastics, films, and wraps, is essential for reducing
carbon emissions and food wastage. The market's production volume
is projected to reach millions of tonnes, with lightweight
packaging solutions extending product shelf life and ensuring
product protection in various sectors, including pharmaceuticals
and cosmetics.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The food and beverage industry relies heavily on packaging to
prevent contamination and food spoilage. However, the choice of
packaging materials and their grades is crucial in this context.
With increasing environmental concerns, regulations against
non-biodegradable packaging materials like plastic have been
imposed by various governments. For instance, the European
Commission restricted the use of Bisphenol A in certain
food-contact materials, setting specific migration limits.
India also has regulations in
place, such as the Food Safety and Standards Regulations, which
specify standards for containers made from plastic and other
materials used in contact with food. As governments worldwide ban
plastic packaging, vendors are turning to alternative, eco-friendly
solutions. This shift may pose challenges to the flexible packaging
market's growth during the forecast period.
- The flexible packaging market faces several challenges in
today's business landscape. Oceans and landfills are filled with
plastic waste from packaging, threatening marine life and
ecosystems. Kraft paper mills and e-commerce sectors drive demand
for flexible packaging, but sustainability concerns persist. Baked
goods, snack foods, and confectionery items require convenience and
resealability, leading to increased use of films, blister
packaging, and retort pouches. Gulf states' growing populations and
health awareness trends boost demand for frozen bakery food and
ready-to-eat packaged foods. Industrialization and busy lifestyles
fuel the need for robust pharmaceutical packaging using laminated
plastic, aluminum, and thermal sterilization. Coating and
converting technologies offer solutions to address these challenges
while catering to sectors like vegetables, meats, and processed
food. Health-conscious consumers demand eco-friendly alternatives,
making it crucial for companies to innovate and adapt to meet these
evolving needs.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This flexible packaging market report extensively covers market
segmentation by
- Material
- 1.1 Flexible plastic
- 1.2 Flexible paper
- 1.3 Flexible foil
- Product
- 2.1 Pouches
- 2.2 Bags
- 2.3 Films and wraps
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Flexible plastic- The flexible packaging market is
experiencing steady growth due to its numerous benefits, including
lightweight, cost-effective, and protective properties. This market
caters to various industries, such as food, beverages,
pharmaceuticals, and consumer goods. Key players in this industry
focus on innovation and sustainability, offering eco-friendly
solutions and advanced packaging technologies. The market's future
looks promising with increasing demand for convenient and portable
packaging options.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Flexible packaging is a dynamic industry that offers various
solutions in the form of pouches, bags, sachets, roll stocks,
wraps, and films for diverse product categories, including food and
beverage and personal care. These packaging types provide excellent
product protection, ease of transportation, and convenience.
Flexible metal packaging and rigid metal packaging also have their
unique advantages. The use of flexible packaging contributes to
reducing carbon emissions and energy consumption compared to
traditional packaging methods. The personal care sector is a
significant consumer of flexible packaging, particularly in the
form of sachets. Bioplastic, a sustainable alternative to
traditional plastics, is gaining popularity in this market. Food
shelf life and product wastage are crucial factors driving the
demand for flexible packaging. Films and wraps help maintain the
freshness of food and beverages, reducing wastage. Eco-friendly
solutions, such as biodegradable and compostable packaging, are
also gaining traction. Polyethylene is a commonly used material in
flexible packaging due to its versatility and cost-effectiveness.
However, other materials like polypropylene, polyvinyl chloride,
and polystyrene are also used depending on the specific application
requirements. Overall, the flexible packaging market continues to
evolve, offering innovative and sustainable solutions for various
industries.
Market Research Overview
Flexible packaging is a dynamic and innovative industry that
offers various solutions in the form of pouches, bags, sachets,
roll stocks, wraps, and more, for diverse sectors including
personal care, food and beverage, healthcare, and cosmetics. The
raw materials used in flexible packaging include metal, plastic,
and paper, with assumptions about future trends leaning towards
eco-friendly solutions and sustainable packaging. Brands are
increasingly focusing on reducing their carbon footprint and
adhering to the Paris Agreement by using lightweight packaging
solutions and bioplastics. Hygiene awareness and smart packaging
are key trends, with formats and designs incorporating inventory
management, product tracking, and intelligent storage. The personal
care sector, including healthcare products and cosmetic items, is a
significant market for flexible packaging, with formats ranging
from stand-up pouches to films and wraps. The production volume for
flexible packaging is projected to reach millions of tonnes, with a
focus on reducing carbon emissions and energy consumption. Flexible
metal packaging and rigid metal packaging have their unique
applications, with flexible metal packaging offering advantages in
terms of product protection and ease of transportation. The food
industry, including baked goods, snack foods, and beverages, is a
major consumer of flexible packaging due to its convenience,
resealability, and ability to extend product shelf life, thereby
reducing food wastage. Eco-friendly solutions, such as natural
colors and recycling, are becoming increasingly important
considerations in the industry, with environmental concerns
surrounding plastic contamination, marine life, and ecosystems
driving the need for sustainable practices. Kraft paper mills and
the e-commerce sector are also significant markets for flexible
packaging.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Material
-
- Flexible Plastic
- Flexible Paper
- Flexible Foil
- Product
-
- Pouches
- Bags
- Films And Wraps
- Others
- Geography
-
- APAC
- North America
- Europe
- 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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