The global flexible packaging market size was valued at USD 201.18 billion in 2022 and is expected to hit around USD 348.54 billion by 2032 and is poised to grow at a compound annual growth rate (CAGR) of 5.7% during the forecast period 2023 to 2032.
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Flexible packaging makes use of materials that are not of the Richard form and they happen to be more economical and easily customized according to the need of the customers either as this method of packaging is cost effective and also provides better efficiency as compared to the different forms of packaging used in different industries the market for the flexible packaging is expected you grow well during the forecast period. Flexible packaging is usually used in the pharmaceutical market. This type of packaging is also used in the packaging of various personal care products. There is a good amount of growth in the usage of flexible packaging in various food and beverages items.
During the pandemic as the demand for various electronic products as well as the grooming and personal products went down the demand for flexible packaging has also declined. Due to the lockdown imposed across many countries in the globe during the COVID-19 pandemic the production of flexible packaging add also hampered to a great extent. The largest supplier of the raw material used in the manufacturing of flexible packaging is China as China was hit the worst during the pandemic the market activities had slowed down to a great extent. Even though many industries led to a decline in the consumption of these packages the demand for these products was still good during the pandemic as there was a growth in the consumption of different types of food products across the globe. As there was a demand for ready to cook food or ready to eat food and various ingredients used for cooking the market had grown well. Even though the pandemic had a negative impact on the market as many industries were shut down, but the food and beverages industry created a good amount of demand for the flexible packaging market.
Report Scope of the Flexible Packaging Market
|Market Size in 2023||USD 211.64 Billion
|Market Size by 2032||
USD 348.54 Billion
|Growth Rate from 2023 to 2032||CAGR of 5.7%|
|Forecast Period||2023 to 2032|
|Segments Covered||Raw Material, Packaging Type, Printing Technology, Application, Geography|
Sealed Air Corporation (US), Coveris (Austria), Transcontinental Inc. (Canada), Amcor (Australia), Sonoco (US), Huhtamaki (Finland), Berry Global Inc. (US), Mondi (South Africa), Clondalkin Group.
The various manufacturing companies that produce flexible packaging for various products offer a large range of options. Due to the increased efficiency of this type of packaging used in various industry the market is expected to grow well during the forecast period. In order to manufacture the material which goes in the making of a flexible package the base used is less which helps in reducing the consumption of energy for the production of this packaging. As the packaging does not make use of any rigid material the production time of such packaging is also lowered. All of these factors provide an upper hand and increase efficiency.
The consumption of energy is less in the manufacturing of flexible packaging as compared to that of the rigid packaging and this happens should be and environment friendly option. Flexible packaging also happens to be offer reusable format. Flexible packaging can also be recycled for using it again. Unlike the rigid materials used packaging of various materials flexible packaging provides innovative designs depending upon the shape of the product.
The packaging material also comes in various designs and prints that provide customization. The quality of the products packed in a flexible package is intact. When it comes to the portability of this type of packaging it is far better than the rigid packaging options. Flexible packaging happens to be lighter as compared to the other options. This type of packaging is also not bulky so it is easier for the consumers to store various products in this type of packages. When it comes to the transportation of various goods that make use of flexible packaging it becomes simpler. The transport of such products is easy as they do not occupy a lot of space and they also happen to be light in terms of weight as compared to the other products that are packed in rigid packaging. There are many different types of flexible packages like the stock banks, printed pouches, sachets, sample pouches etc. When it comes to the use of pouches for the storage of different products the amount of material which is used in the manufacturing of these pouches is very less. This type of packaging also provides better profits to the organization.
Due to an increase in the revenue, there is a growing demand for flexible packaging in the market. Due to a hectic lifestyle and growing preference for ready to eat meals there is a great demand for flexible packaging in the developed as well as the developing economies. There is a maximum usage of this type of packaging due to the working-class people. There has been an increase in the use of flexible packaging in the food industry. As it has been and improvement in the techniques that are used for the processing of food along with the lifestyle changes the demand for flexible packaging is expected to grow during the forecast period.
Flexible packaging is also expected to have a great demand in the coming years as it consumes very less energy and it happens to be a sustainable way. Laws and adoption of strict regulations by the government that ensure maximum use of sustainable solutions even for the packaging of various products will ensure positive contribution to the growth of the market.
Flexible Packaging Market Share, By Raw Material, 2022 (%)
|Raw Material||Revenue Share in 2022 (%)|
Raw Material Insights
Based on raw materials, the plastic segment had the largest market share in the recent years. The plastic segment is expected to dominate the market during the forecast period and it is expected to have the largest market share in terms of revenue. In the recent years this segment had the largest share of about 70%. As there is a growing demand for the use of flexible packaging in the form of pouches or the flexing times which are used in the storage as well as the transportation of liquid food products.
The market for plastic segment is expected to grow as this material happens to be the most effective in preventing the spilling of beverages as well as semisolid products. Due to the various qualities associated with the use of this raw material like that of common stability as well as structural stability the market for the plastic segment will grow well during the forecast period. It is used for the transportation of perishable food products. It is used in the dairy industry as well as in the transportation of fruits and meat. As that has been or maximum consumption of these perishable items across the globe the plastic segment will grow well during the forecast period.
Apart from the plastic based packaging the metal based flexible packaging is also expected to have a good market share in the coming years. As it has been a growth in the activities that help in recycling the metals used for packaging of various products the market will grow well. There are many benefits offered by the use of metal based packaging. The use of metal based packaging shall we helpful in the preserving our various products by either heating or cooling then. These external stimulus do not affect or metal packaging. Another form of packaging which has the same qualities of plastics is the bioplastics segment. The bio plastic material happens to be a sustainable option. This product is degradable and hence it complies with various regulations of the government.
Based on application, the food and beverages segment accounted for about 56% of the market share in the past. As there has been a maximum use of flexible packaging in storage and transport of food and beverages this segment is expected to grow well during the forecast period. As the flexible packaging is nonfragile and lightweight it is leading to the growth of the market. Flexible packaging also happens to be your cost effective option as compared to the rigid packaging.
During come households and hectic lifestyles have changed the consumption patterns of the population in the developing as well as the developed nations. There has been no maximum consumption of ready to eat food or ready to cook meals in the developed nations due to dual income households which leads to a great demand for flexible packaging. Rapid industrialization and urbanization have changed the lifestyle of the population in the developing nations. Which has led to the changes in the consumption patterns and there has been no growth in the demand for flexible packaging due to increased consumption of food from the restaurants, packed food and processed food.
Growing demand for different types of snacks which at times replace the meal of the day there shall be a growth in the consumption of flexible packaging. There shall be an increased use of pouches for packing various food products. Nitrogen which is used for preserving the quality of the product or maintaining the texture and the color of the product pouches happen to be a good packaging option. There will also be an increased use of packaging in pharmaceutical industry. In order to effectively communicate the brand name of various organization yeah companies are focusing on providing packaging that helps the consumers to differentiate between the companies.
Flexible Packaging Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
The Asia Pacific region is expected to have the largest market share in the coming years. This region dominated the market in the past with about 38% of the market share in terms of revenue. As they show Pacific region provides great amount of opportunities for the growth of the market due to the growing population they shall be a good amount of growth in this region. The presence of the organized retail sector and the developing ecommerce sectors will provide better opportunities for the growth of the market. The availability of low cost labor and the easily available raw materials in this region will drive the market growth. Growing popularity of snacks and beverages in the developing nations of the Asia Pacific region will drive the market growth in the coming year period
Key market developments in the flexible packaging market
Key market players
Segments covered in the report
By Raw Material
By Packaging Type
By Printing Technology
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