Flexible Packaging Market to be Worth $348.92 Billion by 2030

 

 
Meticulous Research®—a leading global market research company, published a research report titled, ‘Flexible Packaging Market by Material Type (Plastics {Polyethylene, Polypropylene}, Paper, Bioplastics), Design Type (Rollstocks, Blisters), End-use Industry (Food & Beverages, Pharmaceuticals & Healthcare, Home & Personal Care) - Global Forecast to 2030.’

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The flexible packaging market is expected to reach $348.92 billion by 2030, at a CAGR of 3.9% from 2023 to 2030. The growth of this market is driven by the increasing demand for fast-moving consumer goods (FMCG), growing E-commerce activities and food delivery services, rising consumer focus on convenience and sustainability, rising food losses and waste, and the need for downsizing packaging material usage.

Furthermore, the shifting focus toward renewable & innovative packaging solutions and the rising demand from emerging markets are expected to provide significant growth opportunities for players operating in this market. However, stringent government regulations and increasing raw material prices hinder the growth of this market. In addition, an inefficient filling system and recyclability of plastics pose a major challenge to players operating in this market.

The flexible packaging market is segmented by material type, design type, end-use industry, and geography.

Based on material type, the flexible packaging market is segmented into plastics, paper, aluminum foil, bioplastics, recycled cellulose fiber, and other material types. In 2023, the plastics segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is due to the increasing usage of biodegradable plastics for flexible packaging and the growing adoption of different types of plastics, such as polypropylene, polyethylene terephthalate, polyvinyl chloride, and polystyrene, which are sustainable, lightweight, and easy to reuse and recycle. Additionally, they are highly economical and can be used by all industries, regardless of their scale of operations. Furthermore, the increasing consumption of packaged consumer goods such as beverages and processed foods, driven by rising income levels and a growing middle-class population, is expected to fuel the demand for flexible plastic packaging.

Based on design type, the flexible packaging market is segmented into pouches, bags & trays, rollstocks, squeezable bottles, blisters, wraps, and other design types. In 2023, the pouches segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is attributed to the rising demand for pouches across various applications in food & beverages, pharmaceuticals & healthcare, and home & personal care industries. In addition, the rising demand for lightweight and convenient packaging solutions increases the demand for pouches.

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Based on end-use industry, the flexible packaging market is segmented into food & beverages, pharmaceuticals & healthcare, home & personal care, tobacco products, industrial & chemical products, oil & lubricants, and other end-use industries. In 2023, the food & beverages segment is expected to account for the largest share of the flexible packaging market. The large market share of this segment is the increasing demand for advanced packaging solutions in emerging nations, driven by the rising consumption of packaged food items. Additionally, the growing popularity of e-commerce and online channels for ordering daily staples and fresh foods, coupled with increasing concerns about health and nutrition, further boosts the demand for advanced packaging in the food and beverage industry.

The food & beverages segment is also expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly driven by the rising number of automated food manufacturing plants, which demand modern packaging systems for barrier-free packaging of finished products.

Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the flexible packaging market. Asia-Pacific’s major market share is attributed to several factors, including the region's large population base, rising per capita income, increasing consumption of packaged food, growing organized retail and e-commerce sectors, and the presence of numerous manufacturing industries. These factors are expected to maintain China and India's dominant position in the market in the coming years.

Key Players

The key players operating in the flexible packaging market are Constantia Flexibles Group GmbH (Austria), Sonoco Products Company (U.S.), Berry Global Group, Inc. (U.S.), Mondi Group (U.K.), Reynolds Group Ltd. (New Zealand), Clondalkin Group Holdings B.V. (Netherlands), Amcor plc (U.K.), Huhtamäki Oyj (Finland), Coveris Management GmbH (Austria), and Sealed Air Corporation (U.S.).

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Key Questions Answered in the Report:

·  Which are the high-growth market segments in terms of material type, design type, end-use industry, and geography?

·  What is the historical market size for flexible packaging across the globe?

·  What are the market forecasts and estimates for the period 2023–2030?

·  What are the major drivers, restraints, opportunities, and challenges in the flexible packaging market?

·  Who are the major players in the market, and what are their market shares?

·  Who are the major players in various countries, and what are their market shares?

·  How is the competitive landscape for the flexible packaging market?

·  What are the different strategies adopted by the major players in the flexible packaging market?

·  What are the key geographic trends, and which are the high-growth countries?

·  Who are the local emerging players in the flexible packaging market, and how do they compete with other players?

 

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