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Flexible Packaging Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: July 2024 || SKU: PAC589
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Global Flexible Packaging Market is segmented By Material (Polymer, Aluminum, Paper, Plastic, Cellulosic, Others), By Product (Pouches, Films & Wraps, Bags, Others) By Printing Technology (Digital Printing, Flexography, Others), By End-User (Food & Beverages, Personal Care, Pharmaceutical, Others), By Region (North America, South America, Europe, Asia Pacific, Middle East & Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

 

Flexible Packaging Market Size

The Global Flexible Packaging Market reached USD 231 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 301 billion by 2031. The market is growing at a CAGR of 4.1% during the forecast period 2024-2031.

The Global Flexible Packaging Market refers to producing and using packaging materials that can easily adapt and conform to the product’s packaging shape. It includes materials such as plastic films, aluminium foils, and paper, commonly used in various industries such as food and beverages, pharmaceuticals, personal care, etc.

China produces nearly 33.3% of global plastic production, which drives the global flexible packaging market. China accounts for approximately 45.2% of the global flexible packaging market shares and is expected to grow at the highest CAGR during the forecasted period. North America holds more than 30.1% of the global flexible packaging market share and is expected to retain its domination during the forecast period.

 

Flexible Packaging Market Scope

Metrics

Details

CAGR

4.1%

Size Available for Years

2021-2030

Forecast Period

2023-2030

Data Availability

Value (USD ) 

Segments Covered

Material, Product, Printing Technology, End-User  and Region

Regions Covered

North America, Europe, Asia-Pacific, South America and Middle East & Africa

Fastest Growing Region

Asia-Pacific

Largest Region

Asia-Pacific

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights.

 

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Flexible Packaging Market Dynamics

A Rising Focus On Sustainable Packaging Alternatives 

The rising focus on sustainability has indeed had a significant impact on the global flexible packaging market. Growing environmental awareness and concerns about the impact of traditional packaging materials, such as rigid plastics and metal, have prompted a shift towards more sustainable alternatives. Flexible packaging is considered more environmentally friendly due to its lower carbon footprint, reduced material usage, and improved recyclability compared to conventional packaging formats.

Regulatory Challenges And Infrastructure Limitations

Regulatory challenges and infrastructure limitations can indeed pose significant obstacles to the growth of the global flexible packaging market. Regulatory requirements regarding packaging materials, product safety, environmental impact, and labeling can vary across different countries and regions. Compliance with diverse and complex regulations challenges manufacturers operating in multiple markets. Adhering to these regulations often requires substantial research, testing, and certification investments, which can increase costs and hinder market entry or expansion.

Flexible Packaging Market Segment Analysis

The Global Flexible Packaging Market is segmented based on material, product, printing technology, end-user and region.

Growing Demand For Prepared Foods, Including Ready-To-Eat Meals, Frozen Meals, Snack Foods, And Cake Mixes

The growing demand for prepared foods, including ready-to-eat meals, frozen meals, snack foods, and cake mixes, has indeed been a significant driver for increasing production capacity in the food and beverage industry. This increased production capacity, in turn, leads to a higher demand for food and beverage goods over the forecast period. 

Busier lifestyles, urbanization, and a rise in dual-income households have increased demand for convenient food options. Consumers are seeking quick and easy meal solutions that require minimal preparation time. 

Ready-to-eat meals, frozen meals, and snack foods fulfill this need, offering convenience, time-saving benefits, and various choices. The food & beverages end-user segment contributes approximately 50% of the global market share and is expected to hold the majority of the market shares in the forecasted period as well.

Globalization has led to the adoption of diverse cuisines and a demand for international flavors and food experiences. Prepared foods such as ready-to-eat meals and snack foods allow consumers to explore different cuisines conveniently. Manufacturers expand their production capacity to cater to these changing food habits and offer a broader range of options.

 

Source: DataM Intelligence Analysis (2023)

 

Global Flexible Packaging Market Geographical Share

Growing Asia-Pacific’s demand for packaged food, combined with the increasingly flourishing food & beverage industry, 

The growing demand for packaged food, coupled with the flourishing food and beverage industry in the Asia-Pacific, is expected to drive the demand for flexible packaging over the forecast period.  The Asia-Pacific has witnessed a significant increase in the consumption of packaged food products. Factors such as urbanization, changing lifestyles, and increasing disposable incomes have led to a shift in dietary habits, with consumers opting for convenient, pre-packaged food options. 

The rapid growth of e-commerce in the Asia-Pacific has significantly impacted the packaging industry. The need for secure and efficient packaging solutions for online delivery has increased. Flexible packaging, with its lightweight nature and ability to protect products during transit, aligns well with the requirements of the e-commerce sector. As online food and beverage sales continue to surge, the demand for flexible packaging is expected to witness further growth.

This surge in demand for packaged food drives the need for flexible packaging solutions that offer convenience, portability, and extended shelf life. Asia-Pacific holds over 45% of the global market share and is expected to retain its dominance by the end of 2030. China and India are the major contributor in the region, both account for more than 65% of the regional flexible packaging market share.

 

Source: DataM Intelligence Analysis (2023)

 

Flexible Packaging Market Players

The major global players include Mondi Group, CLONDALKIN GROUP, Berry Global Inc, Amcor, Reynolds, Bemis Company, Inc, Sonoco, Constantia Flexibles Group GmbH, and Huhtamaki Group and Coveris Holdings S.A.

 

Key Developments

  • On May 15, 2023, Fujifilm used the Interpack event in Dusseldorf, Germany, to officially launch its Jet Press FP790 inkjet press, designed to print flexible film for packaging.
  • On March 24, 2023, To encourage more converters of flexible packaging to enter the digital market, HP has launched its new Indigo 200K digital press. The new Series 5 HP Indigo 200K digital press is designed to increase productivity for short runs of flexible digital packaging with high margins that can be produced in a limited number of days. It prints at rates of up to 56 m/min (183 ft/min).
  • On July 20, 2022, Hosokawa Alpine, an Augsburg, Germany-based equipment manufacturer, provided multilayer, blown line technology with machine direction orientation (MDO) to Ineos Olefins & Polymers Europe. The company claims that the technology will allow it to collaborate with converters, brands, and retailers to make flexible packaging film that is simple and more recyclable.  

Why Purchase the Report?

  • To visualize the global flexible packaging market segmentation based on material, product, printing technology, end-user and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development. 
  • Excel data sheet with numerous data points of flexible packaging market level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as Excel consisting of key products of all the major players.

The Global Flexible Packaging Market Report Would Provide Approximately 69 Tables, 70 Figures And 204 Pages.

Target Audience 2024

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
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FAQ’s

  • The Global flexible Packaging Market is expected to grow at a CAGR of 4.1% in the forecast period 2024-2031.

  • CLONDALKIN GROUP, Berry Global Inc, Amcor, Reynolds, Bemis Company, Inc, Sonoco, Mondi Group, Constantia Flexibles Group GmbH, Huhtamaki Group, Coveris Holdings S.A., and others.
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