USD 261.05 billion
Flexible Packaging Market Size, Share, Growth Analysis, By Material (Plastic, Paper, Metal, Others), Packaging Type(Pouches, Roll stock, Bags, Films & Wraps, Others), Technology(Flexography, Rotogravure, Digital Printing, Others), Application, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2190 |
Region:
Global |
Published Date: June, 2024
Pages:
184
|Tables:
59
|Figures:
75
Flexible Packaging Market Insights
Global Flexible Packaging Market size was valued at USD 261.05 billion in 2022 and is poised to grow from USD 273.58 billion in 2023 to USD 398.08 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).
The growth of flexible packaging is driven by increasing employment of the flexible packaging as a substitute for rigid packaging materials, increased customer preference for convenience products, and the growth of the cosmetics industry globally are some of the most significant and remarkable facts. Rising packaged food demand, changing customer preferences due to busy lifestyles and smaller household units, increasing usage of the product as a substitute for rigid packaging materials, and growing inclination of consumers toward convenience products are some of the major important facts. In comparison, rising consumer demand for items with longer shelf life and increased use of biodegradable plastics because of increased awareness of eco-friendly products will further contribute by creating enormous opportunities that will fuel the expansion of the flexible packaging market over the period.
In the above predicted timeframe, market restraining factors for the growth of flexible packaging are likely to be the volatility of raw material prices and the rising number of environmental and recycling issues. Growing processing costs will provide the biggest and most significant barrier to the market's growth. The demand for flexible packaging is also expected to rise during the projected period as more application industries adopt sustainable packaging solutions because of regulatory pressures. Because of the significant presence of major businesses working in the application industry.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Printed Roll stock
Fastest Growth
Printed Roll stock
Growth Rate
4.8% CAGR
Global Flexible Packaging Market ($ Bn)
Country Share for Asia Pacific Region(%)
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Flexible Packaging Market Segmental Analysis
Flexible packaging market is segmented into Material, Packaging Type, Technology, Application, and region. Based on Material, the market is segmented into Plastic, Paper, Metal, and Others. Based on Packaging Type, the market is segmented into Pouches, Roll Stock, Bags, Films & Wraps, and Others. Based on Technology, the market is segmented into Flexography, Rotogravure, Digital Printing, and Others. Based on Application, the market is segmented into Food & Beverages, Pharmaceutical & Healthcare, Personal & Cosmetics, and Others. By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America according to region.
Analysis by Material
The paper segment has emerged as the dominant segment in the flexible packaging market due to its eco-friendly and sustainable characteristics. As consumers and producers are realizing the implications of the environment and the need for packaging that can be recycled or is eco-degradable. Paper-based packaging satisfies the above requirements, which means that it is suitable for various industries. Furthermore, technology in paper production has led to the production of stronger and more versatile papers to be used in different products. According to Skyquest-in depth analysis, paper-based packaging stood at USD 398 billion. The emergence of environmental consciousness is therefore fuelling growth in the paper segment and consolidating its leadership in the market.
The plastic segment is expected to be the fastest-growing segment and expected to hold the highest market share in terms of revenue. Since there is a growing tendency towards the use of pouches and flexing times in the storage and transportation of liquid food products. As plastic is the best material that can prevent the spilling of liquid and semisolid products, the plastic market will grow. It is used in transporting perishable food items. It is used in carriage of meat and fruits also in the dairy sector. The plastic segment will experience significant growth during the projection period because this segment has recorded the highest consumption of such perishable items globally.
Analysis by Application
The food & beverage sector held a market share of roughly 56% based on application. Flexible packaging has been extensively used to store and transport food and drinks; hence this market sector is anticipated to expand significantly throughout the projection period. Flexible packaging's nonfragile and light weight are contributing to the market's expansion. Comparing rigid packaging to flexible packaging, you can see that the former is the more affordable choice. Families and busy lifestyles have transformed people's consumption habits throughout time in both developed and developing countries. The lifestyle of the population in emerging countries has altered because of rapid industrialisation and urbanisation. It has caused changes in eating habits and a standstill in the demand for flexible packaging because of rising restaurant, package, and processed food consumption.
The pharmaceutical & healthcare sector has grown to become the largest application for flexible packaging as it is crucial in the delivery of products within this sector because of the need to provide security, hygiene and tamper evidence in packaging. Versatility of packaging assures enhanced barrier properties against moisture, oxygen and contaminants that are essential in enhancing the efficacy of the drugs. According to Skyquest in-depth analysis, flexible packaging is currently used by 20-30% in the pharmaceutical and healthcare sector, which is anticipated to rise as improvements in performance and environmental impact are made to the flexible packaging material.
Global Flexible Packaging Market By Material type (%)
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Flexible Packaging Market Regional Insights
The flexible packaging market in 2023 was led by Asia-Pacific with the highest revenue share of 38.30%. Owing to organized retail and e-commerce markets, more availability of raw material, and other factors, Asia Pacific countries like China and India are also expected to offer potential opportunities for market stakeholders. Also, increased population in these countries presents a large market for the consumption of FMCG products and food & beverages. High consumer spending in China, India, and Indonesia is expected to drive demand for packaged food products, which will drive market growth.
The market for flexible packaging in North America has the second-largest market share and fastest growing region because of the customer preference for flexible packaging and the region's increasing packaging technology advancements. Along with minimising product wastes and maintaining the safety and health of the food, it is also a financially viable solution to storage problems. Customizability, safety assurance, reusability, transparency, and dependability are further elements influencing market expansion. Additionally, the US flexible packaging market had the biggest market share, while the North American region's fastest expanding market for flexible packaging was in Canada.
Global Flexible Packaging Market By Geography
- Largest
- Fastest
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Flexible Packaging Market Dynamics
Flexible Packaging Market Drivers
Growing Demand for Flexible Packaging in Product Primary Packaging
- It is anticipated that increased demand will speed market expansion for flexible packaging used in primary product packaging. Primary packaging's main job is to safeguard the product from harm and contamination. Flexible packaging provides a variety of qualities that precisely match the needs of primary packaging, including light weight, low contamination, high barrier, and comprehensive environmental protection for the product. Global demand for flexible packaging is thus expected to accelerate market growth.
Consumer Preference Shift from Rigid to Flexible Packaging Due to Sustainability Benefits
- The market for flexible packaging is expected to grow because consumers prefer flexible packaging over rigid packaging due to its advantages in sustainability. In contrast with traditional packaging formats, flexible packaging has several sustainability advantages, such as less raw material consumption, reduced energy use, fewer emissions of greenhouse gases and lower waste production. Due to this, it is a great ion for the packaging industry and is highly favoured.
Restraints
High Cost of Raw Materials for Flexible Packaging
- Raw materials, such plastic paper and rentals, whose costs are utilised to make a variety of flexible packaging items are currently on the higher side. Additionally, the price of polypropylene, which is used in resins, batteries, and packaging films, has gone higher because of a lack of supply. The situation has had an impact on how competitive the Teal packaging market remains.
Environmental Concerns Over Plastic Waste
- Despite its advantages, the flexible packaging market faces significant challenges due to environmental concerns over plastic waste. There is awareness and regulation when it comes to contamination caused by plastics to the environment thus limiting the usage and encouraging the use of recyclable products. For instance, in 2022, the Plastic Waste Management (Amendment) Rules under the Indian Government has put rules over the EPR for plastics particularly the packaging one. This pressure to reduce plastic use and improve recording processes is a challenge for the market.
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Flexible Packaging Market Competitive Landscape
The flexible packaging market is clearly defined and very competitive at the same time there are several companies that are in the leading position trying to capture the largest market share by introducing new innovation and launching new strategies. The market continues to experience pressures due to growth and diversification from industry influencers like Amcor, Sealed Air Corporation, and the Mondi Group. They are concentrating on establishing practical packaging solutions that are environmentally friendly as the consumers increase their consciousness on environmentally friendly products. Furthermore, strategic partnership, joint venture, merger, acquisition are some of key approaches used for increasing market position and improving technological features. The further investment in expenditures on research and development and the progress of packaging materials make the competition constant and the growth of the market more forceful.
Flexible Packaging Market Top Player’s Company Profiles
- Amcor Limited (Australia)
- Berry Global Inc. (US)
- Constantia Flexibles Group GmbH (Austria)
- Coveris Holdings S.A. (Luxembourg)
- Huhtamaki Oyj (Finland)
- Sealed Air Corporation (US)
- Mondi Group (Austria)
- UFlex Limited (India)
- ProAmpac Holdings Inc. (US)
- Sigma Plastics Group Inc. (US)
- Novolex Holdings, LLC (US)
- Winpak Ltd. (Canada)
- Glenroy, Inc. (US)
- Gualapack S.p.A. (Italy)
- Bemis Company, Inc. (US)
- Wipak Group (Finland)
- Bischof & Klein SE & Co. KG (Germany)
- Schur Flexibles Group (Austria)
- Dow Chemical Company (US)
- Transcontinental Inc. (Canada)
Flexible Packaging Market Recent Developments
- In February 2024, Mondi has expanded its production capabilities for environmentally friendly paper-based bags (EcoWicketBags) to meet the growing demand for sustainable packaging in the HPC industry, particularly for feminine hygiene and diapers. This expansion at their Szada, Hungary facility leverages Mondi's integrated value chain, which includes in-house paper manufacturing, coating, and converting, to enhance production efficiency and market responsiveness.
- In February 2024, Cadbury's initiative to reduce its dependence on virgin plastic gained momentum through a collaboration with Amcor. The agreement entails the supply of 1,000 tons of post-consumer recycled plastic by Amcor for packaging Cadbury's core chocolate range. This partnership marks a significant step towards Cadbury's commitment to sustainable packaging practices, aligning with the global effort to minimize environmental impact.
- In July 2023, Berry Global unveils NordiVent, a groundbreaking form-fill-seal film boasting 50% recycled content, catering to the sustainability goals of its clientele. Designed especially for powdered products, the film provides unparalleled resistance to dust and moisture while offering waterproof properties. This innovation underscores Berry Global's commitment to environmentally conscious solutions, meeting the evolving demands of the packaging industry.
Flexible Packaging Key Market Trends
- Adoption of Smart Packaging Solutions: Another recent tendency that has been observed within the flexible packaging market is the development of smart packaging. Practical elements of these packaging technologies include hard-to-forge codes like the QR and RFID and sensors which help convey information to the consumer regarding the freshness, authenticity and usage of the food in question. Thus, the application of smart packaging also had the effects of the function of brand management on the flow of the products and anti-counterfeiting measures. This is typical of the overall trend in the industry, particularly in the direction of computerization of service provision and improvement in the quality of services offered.
Flexible Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Based on our analysis, flexible packaging market is progressively becoming essential for various applications. These are trends which could unlock market growth and development prospects such as e-commerce, digital printing, and sustainable services. Consumers are increasingly willing to spend a premium for formulating drivers that are made possible by flexible packaging. The industry may be able to incur the additional cost of retooling towards sustainable packaging if consumers will patronize packed products sustainably. In the food industry some of the important concerns such as sustainability, transparency, food safety, and reduction in food waste are also playing crucial role in choosing the flexible packaging of meat, poultry and seafood. As one would expect, sustainability being one of the top priorities today, there has been a growing interest in the use of flexible packaging materials that incorporate recycle and recycled materials.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 261.05 billion |
| Market size value in 2031 | USD 398.08 billion |
| Growth Rate | 4.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flexible Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flexible Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flexible Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flexible Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flexible Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flexible Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Flexible Packaging Market Report Snapshots
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