The Flexible Packaging market is expected to grow at a CAGR of 5 % to reach 33.6 million tons in 2031.
Packaging is defined as the economical method to provide identification at the same time make it presentable for display and protection while storage and transportation. Flexible packaging is packaging done with flexible and yielding materials, such that when filled or closed can easily take desired shape. Flexible packaging is made of plastics, metals and papers consisting of materials like foil, laminated paper, paper sheet and plastic layers.
The rise of bio-based and biodegradable films is the main factor that influences growth in the global flexible packaging market size. Flexible packaging for consumer products and services is huge and the profit margin is less. The cost involved in packaging with raw material as plastic is high. To overcome this “down gauging” there are various alternatives being searched which helps and maintains the product property. A small amount preserved goes a long way in preserving environment.
Flexible packaging industry analysis has helped in understanding the importance of easy process of printing has made flexible packaging ideal for display and branding of retail products. The conventional packaging materials like glass, plate, tin, and jute are rapidly being replaced by tetra packs, aluminum foils, and so on. This is mainly due to the increased need for ensuring the quality and safety of products and at the same time to ensure that the product doesn’t get contaminated and damage. These are few of the factors that influence the flexible packaging market share. However, doubts related to usage of specific applications and recyclability issues are expected to hamper the growth of flexible packaging market share.
The flexible packaging market share is dominated by its features like retention of aroma, insulation for healing and sealing, prevent moisture and strengthens the product packaging. Owing to these features it is preferred in food and beverage industry to package pre-cooked, processed and packed foods. The flexible packaging trend is replacing the traditional atmosphere packaging and vacuum packaging.
The global flexible packaging market size is divided as material type, product type, application, printing technology and region. Segmentation on the basis of material type is done as plastics, paper, aluminum foil and paperboard. Plastics is further segmented as polyvinyl chloride, polyethylene, polyethylene terephthalate, polypropylene, polystyrene, and ethylene vinyl alcohol. Segmentation on the basis of type is done as stand-up pouches, retort pouches and gusseted bags, vacuum pouches and bags, wicketed bags and many others.
The global flexible packaging market size is segmented on the basis of application as food and beverage packaging, pharmaceutical products, tobacco products, personal care products, agricultural products, and others. The others category makes up of sporting goods and agricultural products. Geographically, the flexible packaging market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key market of flexible packaging market share are Mondi group, Amcor Limited, Sonoco Products Company, Bemis Company Incorporation, Huhtamaki Group, Goglio SpA and many others.
Flexible Packaging Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||33.6 million tons|
|Growth Rate||CAGR of 5% during 2021-2030|
|Segment Covered||Design Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Amcor plc; Mondi; Sealed Air; CONSTANTIA; Coveris; Goglio SpA; ProAmpac; GUALAPACK S.P.A; Huhtamaki Group; Smurfit Kappa|
Various segments of flexible packaging market share are,
By material type:
- Plastics (polyvinyl chloride, polyethylene, polyethylene terephthalate, polypropylene, polystyrene, and ethylene vinyl alcohol)
- Aluminum foil
- Food and beverage packaging
- Pharmaceutical products
- Tobacco products
- Personal care products
- Agricultural products
- North America