Key Market Overview:
Flexible Packaging Market size was valued at USD 251.9 Billion in 2022, accounting for a CAGR growth of 4.9% during the forecast period (2023-2030), and the market is projected to be valued at USD 373.7 Billion by 2030.
Flexible packaging is a type of packaging that is made from flexible and lightweight materials such as plastic, paper, film, aluminum foil, and bioplastics. It can be easily molded into different shapes and sizes to fit a wide range of products, such as food and beverage packaging, personal care packaging, pharmaceutical packaging, and industrial packaging. Flexible packaging products include pouches, bags, wraps, sachets, and films, which offer a range of benefits over traditional rigid packaging, such as reduced material usage, lower transportation costs, and improved product freshness and shelf life. Flexible packaging is widely used in the packaging industry because of its versatility, convenience, and sustainability.
Key manufacturers operating in the flexible packaging market are investing in research and development in order to improve their products and processes and to develop innovative and sustainable packaging solutions. For instance, in August 2022, Amcor plc introduced a Global Innovation Center, which focuses on developing new and innovative packaging solutions that are sustainable, and cost-effective. Moreover, Latin America is expected to be the fastest-growing region in the flexible packaging market due to the growing demand for packaged food and beverages. Flexible packaging is ideal for these products, as it is lightweight, durable, and offers superior barrier properties that help to preserve the quality and freshness of the products.
Market Dynamics:
Driver:
- Shifting consumer preference towards the adoption of convenience or packed food products led to a growing demand for sustainable packaging solutions such as flexible packaging. Flexible packaging is considered a more sustainable option than traditional packaging materials such as glass, metal, and paper, as it requires less energy to manufacture and transport, which reduces greenhouse gas emissions, and fossil fuel usage.
- The growth of e-commerce and home delivery services led to an increase in demand for flexible packaging solutions that offer convenience, portability, and ease of use for both the consumer and the retailer.
Restraint:
The specific design and structure of flexible packaging make it particularly suitable for packaging liquids and semi-liquids which limits their application in industries that require different types of packaging. For instance, flexible packaging is not ideal for packaging products such as powders, grains, or fragile items, which require more rigid and protective packaging to prevent breakage or damage during handling and transportation. Thus, the market growth is restricted due to its limited application.
Opportunities:
The investment in research and development to create flexible packaging with unique features and benefits will present ample opportunities for manufacturers to innovate and develop new flexible packaging solutions. This will further help manufacturers to differentiate themselves from their competitors and attract customers who value innovative and high-quality packaging solutions. For instance, the development of flexible packaging with improved barrier properties or better dispensing systems. This will potentially offer longer shelf life for products and better dispensing performance, which is expected to provide higher customer satisfaction and increased sales.
Flexible Packaging Report Coverage
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 373.7 Billion |
| CAGR (2023-2030) | 4.9% |
| By Product Type | Bags and Sacks, Pouches (Pre-Made Stand-Up Pouches), Sleeves, Tubes & Lids, Paper-Based Consumer Bags & Reels, Aseptic Cartons, and Flexible Films (Wrapping and Lamination and Lidding Films) |
| By Material Type | Plastic (Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polyamide (PA), Ethyl Vinyl Alcohol (EVOH), and Others), Paper and Paperboard, Aluminum Foil, and Bioplastics. |
| By Application | Food Packaging (Pet Food (Dry Pet Food, Wet Pet Food, and Snacks & Treats), Fresh Food (Fresh & Processed Cheese, Fresh & Processed Meat, Fish & Poultry, and Fresh Produce), Dry & Frozen Food (Crisps & Snacks, Sugar & Confectionaryrs), Others), Beverages Packaging (Alcoholic Beverages and Non-Alcoholic Beverages), Home & Personal Care (Cleaning Products, Detergents, Hygiene, and Others), and Others. |
| By Geography | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Players | Amcor plc, Sealed Air Corporation, Berry Global Inc., Huhtamaki Oyj, Mondi Group, Coveris Holdings S.A., Sonoco Products Company, Constantia Flexibles Group GmbH, ProAmpac Holdings, Inc., and Novolex Holdings, Inc. |
Market Segmentation:
By Product Type
The product type segment is categorized into bags and sacks, pouches (pre-made stand-up pouches), sleeves, tubes & lids, paper-based consumer bags & reels, aseptic cartons, and flexible films (wrapping and lamination and lidding films). In 2022, the pouches segment accounted for the highest market share as pouches, particularly pre-made stand-up pouches, have gained popularity in various industries such as food, beverage, personal care, and pharmaceuticals. This is due to their lightweight, convenient, and customizable features. The stand-up pouches offer excellent shelf appeal, branding opportunities, and product protection, which make them a preferred choice for many manufacturers and retailers. These factors contribute to the dominance of the segment.
Flexible films provide excellent barrier properties, heat-sealability, and customization options, which make them suitable for various packaging applications. Further, they are used in wrapping, lamination, and lidding. Hence, flexible films are expected to be the fastest-growing segment in the flexible packaging market.
By Material Type
The material segment is divided into plastic (Polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyamide (PA), ethyl vinyl alcohol (EVOH), and others), paper and paperboard, aluminum foil, and bioplastics. The plastic segment accounted for the highest share of the flexible packaging market in 2022. Plastics, such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyamide (PA), and ethyl vinyl alcohol (EVOH) have excellent barrier properties, durability, lightweight, and cost-effectiveness. Therefore, they are widely used in flexible packaging which is contributing to the dominance of the segment.
Bioplastics are derived from renewable sources such as corn starch, sugarcane, and potato starch, and they are biodegradable or compostable, which makes them more environmentally friendly than traditional plastics. Furthermore, the increasing demand for sustainable and eco-friendly packaging solutions is driving the demand for bioplastics. Hence, bioplastics are expected to be the fastest-growing segment in the market over the forecast period.
By Application
The application segment is categorized into food packaging (pet food (dry pet food, wet pet food, and snacks & treats), fresh food (fresh & processed cheese, fresh & processed meat, fish & poultry, and fresh produce), dry & frozen food (crisps & snacks, sugar & confectionary, and others)), beverages packaging (alcoholic beverages and non-alcoholic beverages), home & personal care (cleaning products, detergents, hygiene, and others), and others. Food packaging accounted for the highest market share in 2022. This is driven by factors such as the increasing demand for convenience foods, changing lifestyles, and the growing need for extended shelf life and product protection.
However, flexible packaging offers benefits such as lightweight, durability, and cost-effectiveness, which make it suitable for packaging a wide range of home & personal care products such as cleaning products, detergents, and hygiene products. Hence, home & personal care is expected to be the fastest-growing segment in the flexible packaging market during the forecast period.
By Region
Based on the region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, Asia Pacific accounted for the highest market share due to changing lifestyles and increasing demand for convenience foods and consumer goods. Additionally, the increasing adoption of e-commerce and home delivery services further boosted the demand for flexible packaging in the region.
However, Latin America is expected to be the fastest-growing region in the market due to the growing demand for packaged food and beverages coupled with the increasing focus on sustainability and eco-friendliness property of flexible packaging.
Flexible Packaging Market Competitive Landscape:
The flexible packaging market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Amcor plc
- Sealed Air Corporation
- Berry Global Inc.
- Huhtamaki Oyj
- Mondi Group
- Coveris Holdings S.A.
- Sonoco Products Company
- Constantia Flexibles Group GmbH
- ProAmpac Holdings, Inc.
- Novolex Holdings, Inc.
Recent Developments:
- In October 2022, Mondi Group, a sustainable packaging and paper industry, approved a USD 400 million investment for a new paper machine at its Steti mill in the Czech Republic. This is part of the company’s USD 1 billion capital investment program to boost sustainable packaging growth and enhance its market leadership.
- In August 2022, Mondi and Essity introduced packaging for feminine care range manufactured from post-consumer recycled and biomass balanced materials. Essity collaborated with Mondi and Dow to progress the carbon footprint of its global feminine care packaging.
- In August 2022, Amcor plc, a producer of sustainable packaging solutions, completed the acquisition of a high-quality flexible packaging plant situated in the Czech Republic. This strategic move strengthens Amcor’s ability to meet growing customer demand across its European flexible packaging network.
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