USD 261.05 billion
Global Flexible Packaging Market Size, Share, Growth Analysis, By Type(Pouches and Bags), By End-User(Food and Beverage and Pharmaceuticals) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2190 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
59 |
Figures:
75
Global 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 the flexible packaging market is driven by the increasing demand for packaged food, which offers convenience and cost-effectiveness. Flexible packaging provides the advantages of plastic, paper, and aluminum foil without compromising printability, durability, barrier protection, freshness, or ease of use. In addition, flexible packaging has gained popularity due to its environmental benefits, as it uses less material, energy, and water during manufacturing and takes up less space in landfills. The demand for compact packaging has boosted the pouch and flexible bag segment, attracting new market entrants. The rise in sustainable packaging solutions due to regulatory pressures has also contributed to the surge in demand for flexible packaging. The US market is a significant player in the flexible packaging industry, driven by major application industry players and the high market penetration of ready-to-eat meals due to busy lifestyles. Flexible packaging is widely used in food product packaging, such as snacks, dairy, and smoothies. The increase in packaged food consumption globally, driven by consumer lifestyle changes and food processing innovations, has propelled the demand for flexible packaging. The adoption of flexible packaging formats such as pouches has significantly reduced material and transportation costs, improving profit margins for application industry players. Moreover, stand-up pouches serve as a marketing tool in supermarkets, with more space for graphics to entice consumers, attracting application industries such as food and beverage and cosmetics. The flexible packaging market is driven by the advantages it offers, such as sustainability, convenience, and cost-effectiveness, making it an attractive option for packaging solutions.
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 2021-2028 ($ Bn)
Country Share for Asia Pasific Region- 2021 (%)
Global Flexible Packaging Market Size By Product Type 2021-2028 ($ Bn)
Global Flexible Packaging Market Size By Product Type 2021-2028 (%)
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Global Flexible Packaging Market Segmental Analysis
The Global Flexible Packaging market is segmented by type, end-user, and region. Based on type, the market can be segmented into pouches, and bags. Based on end-user, the market is segmented into food and beverage, and pharmaceuticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Flexible Packaging Market Analysis by Type
By type the market can be segmented into pouches and bags. The pouches segment dominated the market due to its versatility, convenience, and ease of use. Pouches are widely used in the packaging of various products, including food, beverages, and personal care items. Stand-up pouches are becoming increasingly popular due to their ability to stand upright on shelves, providing a better product visibility and more attractive packaging. The growth of the pouches segment is attributed to the increasing demand for lightweight and flexible packaging, which is cost-effective and environmentally friendly.
The bags segment is the fastest-growing segment in the flexible packaging market, driven by the increasing demand for shopping bags and garbage bags. The demand for shopping bags is increasing due to the growth of the e-commerce industry, which requires the use of durable and lightweight packaging materials. The demand for garbage bags is also increasing due to the growing environmental concerns and the need for sustainable waste management practices. The use of biodegradable and compostable materials in the manufacturing of bags is driving the growth of this segment.
Flexible Packaging Market Analysis by End-User
By end-user, the market can be segmented into food and beverage, and pharmaceuticals. The food and beverage segment dominated the flexible packaging market, as it is the largest consumer of flexible packaging materials. Flexible packaging is widely used in the food and beverage industry for packaging products such as snacks, confectionery, bakery, and other products. The growth of this segment is attributed to the increasing demand for convenient and easy-to-use packaging solutions that offer extended shelf life and provide better product visibility. The use of flexible packaging materials in the food and beverage industry is also driven by the trend towards sustainable and eco-friendly packaging options.
The pharmaceuticals segment is the fastest-growing segment in the flexible packaging market. This growth is attributed to the increasing demand for flexible packaging solutions in the pharmaceutical industry due to their ability to provide better product protection and preservation. Flexible packaging materials are used in the packaging of various pharmaceutical products, including tablets, capsules, and medical devices. The use of flexible packaging in the pharmaceutical industry is driven by the increasing demand for convenient and cost-effective packaging options that provide enhanced safety and security for the products.
Global Flexible Packaging Market By Product type 2021 (%), 2023 (%)
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Global Flexible Packaging Market Regional Insights
North America dominated the global flexible packaging market, with the US as the largest market in the region, which is home to some of the largest players in the industry. The high market penetration of ready-to-eat meals and the busy lifestyles of working-class personnel in the US have contributed to the growth of the flexible packaging market in the country. Moreover, the increasing demand for sustainable packaging solutions due to regulatory pressures has led to a surge in demand for flexible packaging in the region. The US market is expected to continue its dominance in the region during the forecast period.
APAC is expected to witness significant growth during the forecast period, owing to the increasing demand for packaged food and the rise of the middle-class population. China is the dominant market in the region, driven by the increasing demand for flexible packaging from the food and beverage industry. Moreover, the growth of the e-commerce industry in the region has increased the demand for flexible packaging solutions, as they provide convenience and cost-effectiveness for shipping and storage.
Global Flexible Packaging Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Flexible Packaging Market Dynamics
Flexible Packaging Market Drivers
Increasing demand for sustainable packaging solutions
- One of the major drivers of the flexible packaging market is the increasing demand for sustainable packaging solutions due to regulatory pressures. The focus on sustainability has led to the development of eco-friendly and biodegradable flexible packaging materials, which use less material, energy, and water during manufacturing and take up less space in landfills. As a result, many companies are shifting towards flexible packaging solutions, as they provide cost-effectiveness, convenience, and environmental benefits, contributing to the growth of the global flexible packaging market.
Flexible Packaging Market Restraints
Availability of raw materials
- One of the major restraints of the flexible packaging market is the availability of raw materials. The production of flexible packaging materials requires a variety of raw materials, such as plastic resins, aluminum, and paper, which are sourced from various suppliers. Any disruption in the supply chain can lead to price fluctuations and affect the production of flexible packaging materials. Moreover, the increasing environmental concerns regarding the disposal of plastic waste have led to the imposition of stricter regulations, which could limit the production and use of plastic-based flexible packaging materials, hindering the growth of the global flexible packaging market.
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Global Flexible Packaging Market Competitive Landscape
The global flexible packaging market is highly fragmented, with a large number of small and medium-sized players competing for market share. The market is characterized by intense competition, with players focusing on product innovation, development of eco-friendly and sustainable packaging solutions, and strategic partnerships and acquisitions. The market players are also investing in expanding their production capacity to cater to the increasing demand for flexible packaging solutions. Moreover, the market players are also leveraging advanced technologies to improve the functionality and performance of their packaging solutions, thereby gaining a competitive edge.
Flexible Packaging Market Top Player’s Company Profiles
- Berry Global Inc. (US)
- Coveris Holdings S.A. (Luxembourg)
- 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)
- Mondi plc (UK)
- Transcontinental Inc. (Canada)
Flexible Packaging Market Recent Developments
- Mondi ramped up production of their line of environmentally friendly paper-based bags (EcoWicketBags) in February 2024. This is in line with the HPC industry's growing need for environmentally friendly packaging, particularly for feminine hygiene and diapers. At its Szada, Hungary, facility, Mondi is producing more environmentally friendly bags in order to capitalize on the group's integrated value chain, which consists of in-house paper manufacture, coating, and converting.
- Cadbury's efforts to decrease its reliance on virgin plastic were accelerated when Amcor and Cadbury inked an agreement in February 2024 for the provision of 1,000 tons of post-consumer recycled plastic for the packaging of Cadbury's core chocolate range.
- Berry Global introduced NordiVent, a high-performance form-fill-seal film with 50% recycled content, in July 2023 to help customers meet their sustainability objectives. For items that are powdered, the film offers dust and moisture resistance and is waterproof.
Global Flexible Packaging Key Market Trends
- One of the key trends in the global flexible packaging market is the adoption of digital printing technology. Digital printing offers various benefits, such as high-quality printing, cost-effectiveness, and the ability to customize packaging designs according to customer preferences. Additionally, it allows for shorter lead times and reduces waste, as it eliminates the need for printing plates. With the increasing demand for customized and personalized packaging solutions, many companies are adopting digital printing technology, which is expected to drive the growth of the global flexible packaging market during the forecast period.
Global 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 robust Secondary Desk research.
According to our global flexible packaging market analysis, the market is a highly competitive and rapidly growing industry, driven by the increasing demand for sustainable and eco-friendly packaging solutions across various end-user industries such as food and beverage, pharmaceuticals, and personal care. The market is dominated by a few major players such as Amcor, Berry Global, Constantia Flexibles, Coveris Holdings, and Huhtamaki, who have significant market share due to their extensive product offerings, global reach, and focus on product innovation. However, the market is also characterized by the presence of a large number of small and medium-sized players, who compete for market share by focusing on niche markets, cost competitiveness, and strategic partnerships and acquisitions. The market is expected to continue its growth trajectory in the coming years, driven by advancements in technology and a shift towards sustainable and eco-friendly packaging solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 261.05 billion |
| Market size value in 2031 | USD 398.08 billion |
| Growth Rate | 4.8% |
| 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 Global 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 Global 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 Global 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 Global 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 Global Flexible Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Global Flexible Packaging Market Report Snapshots
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